<![CDATA[Firm value reflects investors' assessment of a company's performance and future prospects. Therefore, this study investigates whether capital structure and profitability influence firm value and examines the moderating role of firm size in this relationship. The research focuses on consumer non-cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. A quantitative research design was employed using secondary data derived from the companies' published financial statements. The sample was determined through purposive sampling based on predetermined selection criteria. Firm value was measured using Price to Book Value (PBV), capital structure was represented by Debt to Equity Ratio (DER), profitability was measured by Return on Assets (ROA), and firm size was calculated using the natural logarithm of total assets. The data were analyzed using panel data regression and Moderated Regression Analysis (MRA). The empirical findings reveal that profitability significantly affects firm value, whereas capital structure does not demonstrate a significant influence. In addition, firm size fails to moderate both the relationship between capital structure and firm value and the relationship between profitability and firm value. These results indicate that, within consumer non-cyclicals companies during the observation period, profitability contributes more substantially to enhancing firm value than capital structure.]]>
Copyrights © 2026
