ANALISIS PENGARUH PROFITABILITAS, UKURAN PERUSAHAAN DAN LEVERAGE OPERASI TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING (STUDI KASUS PADA PERUSAHAAN SUBSEKTOR PERKEBUNAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2016)

Fajar, Aulia
Hasan, Amir
Gusnardi, Gusnardi

Jurnal Tepak Manajemen Bisnis
Vol 10, No 4 (2018)

The main purpose of a company is to enhance the wealth of the ownerby maximizing firm’s value. But the failure to formulating a suitable strategyregarding the factors that affecting firm’s value often became the main cause thata company fail to maximizing it’s value. This research was conducted to analyzethe effect of profitability, firm’s size and operating leverage on firm’s value and todetermine wether capital structure is capable to mediate that effect. Thepopulation of this study are the plantation company that listed in Indonesia StockExchange (IDX), 10 samples was choosen with purposive sampling method. Thecriteria for the sampling method was that the company must be listed in IndonesiaStock Exchange during 2012-2016 period. Path analysis was used as the dataanalysis technique and SPSS as the data analysis software. The Researchconcluded that profitability and capital structure significantly affect firm’s value.Meanwhile, firm’s size and operating leverage had negative but insignificanteffect to firm’s value. Profitability and operating leverage showed negative andsignificant effect to capital structure. The mediating effect was shown by capitalstructure to the effect of profitability towards firm’s value but not for the effect offirm’s size and operating leverage for firm’s value.