Jurnal Ilmiah Multidisiplin (JUKIM)
Vol. 5 No. 04 (2026): Juli: Jurnal Ilmiah Multidisiplin

Determinants of Firm Value in Consumer Goods Industry Companies for the 2019–2025 Period

Dionysia Kowanda (Universitas Gunadarma)
Kartika Sukmawati (Universitas Gunadarma)
Endang Setyaningsih (Universitas Gunadarma)



Article Info

Publish Date
22 Jul 2026

Abstract

This study aims to analyze the effects of risk management disclosure, investment decisions, dividend policy, and profitability on firm value. The research objects consist of consumer goods industry companies listed on the Indonesia Stock Exchange during the 2019–2025 period. The research data were collected through documentation from financial statements, annual reports, and sustainability reports. The sampling technique employed purposive sampling with the following criteria: (1) the companies consistently published financial statements, annual reports, and sustainability reports throughout the research period; and (2) the companies did not experience losses or delisting, consistently distributed dividends, and did not undertake mergers or significant restructuring during the research period. Based on these criteria, 11 companies were selected as the research sample, resulting in 77 observations. Hypothesis testing was conducted using panel data regression analysis. Based on the Chow and Hausman test results, the Fixed Effect Model was selected as the most appropriate estimation model. The results indicate that investment decisions and profitability partially affect firm value, whereas risk management disclosure and dividend policy do not have a significant effect on the firm value of consumer goods industry companies during the 2019–2025 period. Simultaneously, risk management disclosure, investment decisions, dividend policy, and profitability affect firm value.

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Journal Info

Abbrev

JUKIM

Publisher

Subject

Computer Science & IT Economics, Econometrics & Finance Social Sciences

Description

Jurnal Ilmiah Multidisiplin adalah jurnal yang ditujukan untuk publikasi artikel ilmiah yang diterbitkan oleh Asosiasi Dosen Muda Indonesia dan di payungi Oleh Yayasan Dosen Muda Indonesia dan di terbitkan 6 kali dalam setahun yautu Januari, Maret, Mei, Juli, September, November. Jurnal Ilmiah ...