Escalate : Economics and Business Journal
Vol. 4 No. 3 (2026): Escalate : Economics and Business Journal

The Influence of Capital Structure, Profitability, and Asset Growth on Company Value at PT Mayora Indah TBK from 2016 to 2025 in Tangerang

Rika Amelia Putri (Pamulang University)
Ayu Puspa Lestiyadi (Pamulang University)



Article Info

Publish Date
25 Sep 2026

Abstract

This study aims to analyze the relationship of Capital Structure, Profitability, and Asset Growth with Firm Value at PT Mayora Indah Tbk in Tangerang for the 2016–2025 period. This quantitative study used saturated sampling of the company's annual financial reports for ten years. Data were analyzed using classical assumption tests, simple and multiple linear regression, correlation analysis, coefficient of determination, and hypothesis testing using t-test and F-test with SPSS version 27. The results show that Capital Structure measured by Debt to Equity Ratio (DER) has a significant relationship with Firm Value (t=2.752; p=0.025), with an individual R² of 48.6%. Profitability measured by Gross Profit Margin (GPM) does not have a significant relationship with Firm Value (t=1.337; p=0.218), with an individual R² of 18.3%. Asset Growth also does not have a significant relationship with Firm Value (t=0.741; p=0.480), with an individual R² of 6.4%. Simultaneously, Capital Structure, Profitability, and Asset Growth have an R² of 57%, but the overall regression model is not statistically significant (F=2.648; p=0.143). Thus, only Capital Structure shows a statistically significant relationship with Firm Value in the individual regression model.

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Journal Info

Abbrev

escalate

Publisher

Subject

Economics, Econometrics & Finance

Description

Escalate invites both empirical and theoretical articles that explore micro and macro phenomena. The journals publication scope encompasses a wide array of domains, including macro and micro economics, business strategy and policy, entrepreneurship, finance and accounting studies, human resource ...