The Effect of Liquidity, Asset Structure, Capital Structure on Firm Value with Profitability and GCG as Intervening Variables on Non-Cyclical Consumer Listed on the Indonesia Stock Exchange
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 07
Abstract
This study aims to determine the effect of liquidity, asset structure, and capital structure on firm value with profitability and good corporate governance (GCG) as intervening variables in non-cyclical consumer companies listed on the Indonesia Stock Exchange (IDX). The data collection technique used in this study is annual report documentation for 6 years starting from 2015- 2021 from Personal Care Product companies listed on the IDX, with a total sample of 5 companies selected through purposive sampling. The collected data were analyzed using Partial Least Squares (PLS) analysis, and the findings were interpreted using a path analysis approach. In conclusion, liquidity and asset structure have a negative relationship with profitability and firm value but have a positive relationship with GCG. On the other hand, capital structure has a negative relationship with profitability and GCG but has a positive relationship with firm value. Profitability has a positive relationship with firm value, while GCG has a negative relationship. Profitability and GCG have a negative relationship as intervening variables in the effect of liquidity and asset structure on firm value but have a positive relationship as intervening variables in the effect of capital structure on firm value.
Authors and Affiliations
Nur Siti Latipah, Hwihanus, Nekky Rahmiyati
Keywords
Related Articles
- EP ID EP727232
- DOI 10.47191/jefms/v6-i7-39
- Views 38
- Downloads 0
The Impact of Influencer Credibility, Brand Originality Image, and Price Consciousness on Consumer Trust in Local Beauty Products
The main purpose of this study is to examine the effect of influencer credibility, brand originality image, and price consciousness on the consumer trust in local brands of beauty products. The sample in this study was y...
Structural Equation Model on Supply Chain Performance of the Manufacturing Sector: An Explanatory Sequential Mixed Methods Study
Supply Chain Performance (SCP) is affected by factors including supply chain structure, market conditions, among others. SCP will define profitability, growth, and sustainability, but is varied in level among different i...
The Relationship of Socio-Economic Characteristics with the Implementation of the main Tasks of Agricultural Extension Workers
Individual characteristics are personal factors related to all aspects of life that are influenced by behavior, environment, and individual interaction. Socioeconomic characteristics indicate the resources owned by agric...
The Moderating Effect of Perceived Organisational Support on Learning Organisation and Company Reputation of Small and Medium Scale Enterprisesin Nigeria
This work empirically established the moderating effect of perceived organisational support on learning organisation and company reputation in Nigeria’s SMEs. This study employed a quantitative research design with an ad...
The Influence of Motivation and Compensation on Employee Performance at Pt Unisadhuguna with Job Satisfaction Mediation
This study aims to 1) determine the effect of motivation on employee performance, 2) determine the effect of compensation on employee performance, 3) determine the effect of motivation on employee job satisfaction, 4) de...