JURNAL MANAJEMEN MOTIVASI
Vol 21 No 2 (2025): Jurnal Manajemen Motivasi

The Role of Ownership Structure in Moderating the Effect of Profitability, Debt Policy and Asset Growth on Firm Value: Empirical Study in the Energy Sector on the Indonesia Stock Exchange

Gerri Sarwo Edi, Akhmad (Unknown)
Hermuningsih, Sri (Unknown)
Suyanto, Suyanto (Unknown)

Article Info

Publish Date
05 Jul 2025

Abstract

This study examines the effect of profitability, debt policy, and asset growth on firm value in Indonesia's energy sector and the moderating role of ownership structure. Using secondary data from 2015–2023 and purposive sampling, data were analyzed with SEM-PLS (WarpPLS 7.0). Results show profitability, debt policy, and asset growth positively affect firm value. Institutional ownership moderates the effect of debt policy but not profitability or asset growth. The findings provide strategic insights for managers, investors, and policymakers to enhance firm value through ownership structure and financial factors.

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...