<![CDATA[This study aims to examine the effect of intellectual capital, capital intensity, and institutional ownership on firm value, with profitability as a moderating variable in pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The population of this study consisted of 15 pharmaceutical companies listed on the IDX. The sampling technique used was purposive sampling, resulting in 9 companies with a total of 45 observations. This research employed a quantitative approach with causal associative research design using secondary data obtained from annual reports, financial statements, and stock price data. The data were analyzed using panel data regression and Moderated Regression Analysis (MRA) with the assistance of EViews 13 software. The results indicate that intellectual capital, capital intensity, and institutional ownership do not have a significant effect on firm value. However, profitability is proven to strengthen the relationship between intellectual capital and firm value. Meanwhile, profitability is unable to moderate the relationship between capital intensity and firm value as well as institutional ownership and firm value. Simultaneously, all independent variables, profitability, and interaction variables significantly influence firm value. The study concludes that profitability plays an important role in strengthening the effectiveness of intellectual capital in increasing firm value in pharmaceutical companies, while capital intensity and institutional ownership have not optimally contributed to improving firm value during the research period.]]>
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