Journal of Economics, Management, Accounting and Computer Applications
Vol. 3 No. 1 (2026)

Profitability Mediation in the Relationship Between Firm Size and Capital Structure with Firm Value: An Empirical Study on Transportation Subsector Companies Listed on the Indonesia Stock Exchange for the 2016–2023 Period

Indah Yuniarti Admarlan (Universitas Sultan Ageng Tirtayasa)
Akhmadi Akhmadi (Universitas Sultan Ageng Tirtayasa)
Intan Purbasari (Universitas Sultan Ageng Tirtayasa)



Article Info

Publish Date
30 Jun 2026

Abstract

This study aims to examine the effect of firm size and capital structure on firm value. Furthermore, profitability is tested as a mediating variable in the relationship between firm size and capital structure with firm value. The population in this study were 38 companies in the Transportation sub-sector listed on the Indonesia Stock Exchange in the 2016-2023 period. Meanwhile, the number of samples in this study was 11 companies, which were determined by purposive sampling technique. Data analysis techniques in this study include descriptive statistics, classical assumption tests, multivariate regression analysis, and hypothesis testing. The results of this study indicate that firm size has a significant negative effect on firm value, contrary to the proposed hypothesis. Capital structure has a significant positive effect on firm value. Firm size has a significant negative effect on profitability, contrary to the proposed hypothesis. Capital structure has a negative and insignificant effect on profitability, contrary to the proposed hypothesis. Profitability has a negative and insignificant effect on firm value. Profitability can mediate the relationship between firm size and firm value. Meanwhile, profitability cannot mediate the relationship between capital structure and firm value.

Copyrights © 2026






Journal Info

Abbrev

jemaca

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering

Description

Journal of Economics, Management, Accounting and Computer Applications (JEMACA) is published by the Institute Of Advanced Knowledge and Science in helping academics, researchers, and practitioners to disseminate their research results. JEMACA is a blind peer-reviewed journal dedicated to publishing ...