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INDONESIA
Jurnal Riset Perbankan, Manajemen dan Akuntansi
ISSN : -     EISSN : 25416669     DOI : https://doi.org/10.56174/jrpma.v5i1.123
Core Subject : Economy, Science,
The Journal of Research on Banking, Management and Accounting is focused on publishing original research articles, reviewing contributor articles and current issues related to banking, management and accounting. The main objective of this journal is to provide a platform for national scientists, academics, and researchers to share contemporary view in banking, management and accounting. It also aims to promote interdisciplinary studies in banking, management and accounting. Thus, it becomes a leading national journal in banking, management and accounting. This journal, published 2 times a year, publishes research papers in all areas of banking, management and accounting.
Articles 111 Documents
Pengaruh Leverage, Risiko Bisnis, dan Profitabilitas Terhadap Nilai Perusahaan dengan Keputusan Investasi sebagai Variabel Moderasi (Studi pada Perusahaan Sub-Sektor Properti dan Real Estat yang Terdaftar Di Bursa Efek Indonesia Periode 2020–2024) Ria Antonia Pattiasina; Atik Djayanti
Jurnal Riset Perbankan Manajemen dan Akuntansi Vol 10 No 1 (2026): Jurnal Riset Perbankan, Manajemen dan Akuntansi
Publisher : Institut Keuangan-Perbankan Dan Informatika Asia Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56174/jrpma.v10i1.290

Abstract

The Effect of Leverage, Business Risk, and Profitability on Firm Value with Investment Decision as a Moderating Variable (Study on Property and Real Estate Sub-Sector Companies Listed on The Indonesia Stock Exchange (IDX) 2020-2024 Period) Ria Antonia Pattiasina ABSTRACT This study aims to analyze the effect of leverage, business risk, and profitability on firm value with investment decisions as a moderating variable in property and real estate sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This research is motivated by the importance of firm value as an indicator of investor confidence in the company’s performance and future prospects, as well as the inconsistency of previous research findings regarding the factors affecting firm value. The independent variables in this study consist of leverage proxied by Debt to Equity Ratio (DER), business risk proxied by Degree of Operating Leverage (DOL), and profitability proxied by Return on Assets (ROA). The dependent variable, firm value, is proxied by Price to Book Value (PBV), while the moderating variable, investment decision, is proxied using the Investment Opportunity Set (IOS) through the Price Earnings Ratio (PER). This study employs a quantitative approach with a causal-comparative research design. The data used are secondary data obtained from annual reports and audited financial statements of property and real estate sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The sampling technique used in this study is purposive sampling based on criteria relevant to the research objectives. Data analysis is conducted using panel data regression with Moderated Regression Analysis (MRA). The results of this study are expected to provide theoretical contributions to the development of financial management studies, particularly regarding the effects of leverage, business risk, profitability, and investment decisions on firm value. In addition, this study is also expected to serve as a consideration for investors, company management, and capital market regulators in making decisions related to enhancing firm value. Keywords: leverage, business risk, profitability, investment decision, firm value, panel data regression.Top of Form

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