Pengaruh Return on Equity dan Current Ratio terhadap Nilai Perusahaan dengan Struktur Modal sebagai Variabel Intervening pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia 2019-2023 The Influence of Return on Equity and Current Ratio on Firm Value with Capital Structure as an Intervening Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange (2019-2023)
Article Sidebar
Page Numbers:
633-646
Digital Object Identifier:
10.58578/arzusin.v5i2.5238
Viewed: 112 times
Downloaded: 72 times
We cordially invite qualified professionals to join LYAS Publisher as Editors or Reviewers. Your expertise will contribute significantly to maintaining the quality of our publications. If you are interested, please complete the following form: Call for Editors & Reviewers
Please feel free to contact us if you need more information about the submission process or have any further questions.
Authors:
Magribi Ramadhani1, Lusiana Lusiana2, Yosi Pupita Sari3 
Copyright :
Authors retain copyright and grant the journal right of first publication.
Main Article Content
Abstract
This study aims to analyze the Effect of Return On Equity (ROE) and Current Ratio (CR) on Company Value with Capital Structure as an intervening variable in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2019-2023. This Quantitative Research uses secondary data obtained from the company's financial statements published by the IDX. The population used in this study were all manufacturing companies listed on the IDX during 2019 to 2023 and the Sample was collected using the purposive sampling technique and obtained data from 32 companies for 5 years which were used as research samples. The data analysis technique uses SPSS 26 software and the data analysis method used is multiple linear regression. The results of the analysis show that (1) ROE has a positive and significant effect on Capital Structure. (2) CR has a negative and significant effect on Capital Structure. (3) ROE has a negative and significant effect on Company Value. (4) CR has a negative and significant effect on Company Value. (6) The intervening variable Capital Structure does not mediate the ROE variable on Company Value. (7) The intervening variable Capital Structure does not mediate CR on Company Value. This study contributes to the understanding of the factors that influence the Company Value of manufacturing companies in Indonesia and the importance of Capital Structure in optimizing company value.
Downloads
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
References
Andriani, S. D., Kusumastuti, R., & Hernando, R. (2022). Pengaruh Return On Equity (ROE), Earning Per Share (EPS) dan Debt To Equity Ratio (DER) Terhadap Harga Saham (Studi Empiris Pada Perusahaan Industri Makanan Olahan yang Terdaftar di Bursa Efek Indonesia Tahun 2018 – 2020). Owner, 7(1), 333–345. https://doi.org/10.33395/owner.v7i1.1268
Arini, S. S., & Fenty, F. (2020). Analisis Pengaruh Return On Equity dan Ukuran Perusahaan terhadap Struktur Modal pada Bank Syariah di Indonesia Periode 2010 - 2017. Borneo Student Research (BSR), 1(Vol 1 No 3 (2020): Borneo Student Research), 1383–1393. https://journals.umkt.ac.id/index.php/bsr/article/view/1165/476
Ayem, S., & Syahri, M. (2023). Likuiditas Sebagai Pemoderasi Pada Pengaruh Profitabilitas Dan Tax Planning Terhadap Nilai Perusahaan. Jurnal E-Bis, 7(2), 537–549. https://doi.org/10.37339/e-bis.v7i2.1268
Batubara, H. C., & Putri, A. A. (2021). Pengaruh Ratio Profitabilitas dan Ratio Aktivitas Terhadap Current Ratio pada Perusahaan Sub Sektor Pulp dan Kertas yang Terdaftar di Bursa Efek Indonesia. Maneggio : Jurnal Ilmiah Magister Manajemen, 4(1), 51–61.
Damayanti, A., & Rianto, R. (2020). Pengaruh Current Ratio, Debt To Equity Ratio Dan Return on Equity Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur. Journal Competency of Business, 4(2), 53–67. https://doi.org/10.47200/jcob.v4i2.700
Detama, G. R., & Laily, N. (2021). Pengaruh Profitabilitas, Likuiditas, Dan Leverage Terhadap Nilai Perusahaan (Pada Perusahaan Farmasi Yang Terdaftar Di Bei). Jurnal Ilmu Dan Riset Manajemen, 10(1), 1–16.
Irma, Puspitasari, D., Rachamawati, D. W., Husnatarina, F., Suriani, Evi, T., Aprih, S., Anas, M., Muliadi, S., & Sari, D. C. (2021). Manajemen Keuangan. Nuta Media, Yogyakarta, 19, 1–105.
Jusmansyah, M. (2022). Pengaruh Current Ratio, Return On Equity, Total Asset Turn Over, Dan Ukuran Perusahaan Terhadap Struktur Modal (Studi Empiris pada Perusahaan Otomotif yang Terdaftar di Bursa Efek IndonesiaPeriode 2016 – 2020). Jurnal Ekonomika Dan Manajemen, 11(1), 40. https://doi.org/10.36080/jem.v11i1.1752
Khoirunnisa, & Mahroji. (2024). Pengaruh Debt to Equity Ratio (DER), Return On Equity (ROE) danCurrent Ratio (CR)Terhadap Harga Saham (Studi Empiris pada Perusahaan Food & Beverages yang Terdaftar di Bursa Efek Indonesia Periode 2016-2021). Jurnal Ilmiah Wahana Pendidikan, 10(June), 400–413.
Lase, L. P. D., Telaumbanua, A., & Harefa, A. R. (2022). Analisis Kinerja Keuangan Dengan Pendekatan Rasio Profitabilitas. Jurnal Akuntansi, Manajemen, Dan Ekonomi (JAMANE), 1(2), 254–260.
Listyawati, I., & Kristiana, I. (2021). Pengaruh Return on Equity, Current Ratio, Size Company dan Debt to Equity Ratio Terhadap Nilai Perusahaan. Maksimum, 10(2), 47. https://doi.org/10.26714/mki.10.2.2020.47-57
Mahayati, F., Fatonah, S., & Meilisa, R. (2021). Pengaruh Return on Equity (Roe) Dan Debt To Equity Ratio (Der) Terhadap Nilai Perusahaan (Pbv) Pada Perusahaan Manufaktur Sub Sektor Logam Dan Sejenisnya Yang Terdaftar Di Bei. Jurnal Valuasi: Jurnal Ilmiah Ilmu Manajemen Dan Kewirausahaan, 1(1), 258–267. https://doi.org/10.46306/vls.v1i1.26
Mudjijah, S., Khalid, Z., & Astuti, D. A. S. (2019). Pengaruh kinerja keuangan dan struktur modal terhadap nilai perusahaan yang dimoderasi variabel ukuran perusahaan. Jurnal Akuntansi Dan Keuangan, 8(1), 41–56. https://journal.budiluhur.ac.id/index.php/akeu/article/view/839
Nirawati, L., Samsudin, A., Stifanie, A., Setianingrum, M. D., RyanSyahputra, M., Khrisnawati, N., & Saputri, Y. (2022). Profitabilitas dalam Perusahaan. Jurnal Manajemen Dan Bisnis, 5(1), 60–68.
Nur Avita Mahdhiyatul Aeni, N. F. A. (2019). Pengaruh Profitabilitas , Pertumbuhan Perusahaan , Struktur.
Prasetyo, Y., Ernawati, N., Hakim, A. M. R. S., & Sugianto, D. (2021). Pengaruh Solvabilitas, Likuiditas, dan Profitabilitas terhadap Nilai Perusahaan. Jurnal Akuntansi Dan Audit Syariah (JAAiS), 2(2), 186–197. https://doi.org/10.28918/jaais.v2i2.4838
Profitabilitas, P., Growth, D. A. N., Kasus, S., Perusahaan, P., Yang, B., Di, T., & Efek, B. (2017). Dengan Good Corporate Governance Sebagai. 205–211.
Puspitaningtyas, Z. (2017). Efek Moderasi Kebijakan Dividen Dalam Pengaruh Profitabilitas Terhadap Nilai Perusahaan. JURNAL AKUNTANSI, EKONOMI Dan MANAJEMEN BISNIS, 5(2), 173. https://doi.org/10.30871/jaemb.v5i2.538
Robiyanto, R., Nafiah, I., Harijono, H., & Inggarwati, K. (2020). Pengaruh Profitabilitas Terhadap Nilai Perusahaan Perhotelan Dan Pariwisata Dengan Struktur Modal Sebagai Variabel Intervening. Jurnal Ilmiah Bisnis Dan Ekonomi Asia, 14(1), 46–57. https://doi.org/10.32812/jibeka.v14i1.153
Safira, S., & Suci, N. M. (2021). Pengaruh Current Ratio, Debt To Equity Ratio, Return On Equity Terhadap Nilai Perusahaan Pada Perusahaan Sub Sektor Perdagangan Besar Barang Produksi yang Terdaftar di Bursa Efek Indonesia Tahun 2017-2018. Jurnal Ilmiah Akuntansi Dan Humaniora, 11(2), 322–328.
Sahir, S. H. (2022). Metodologi Penelitian.
Savitri, D. A. M., Kurniasari, D., & Mbiliyora, A. (2021). Pengaruh Profitabilitas dan Ukuran Perusahaan terhadap Nilai Perusahaan dengan Struktur Modal sebagai Variabel Intervening (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun 2017-2019). Jurnal Akuntansi Dan Pajak, 21(02), 500–507. https://doi.org/10.29040/jap.v21i02.1825
Siahaan, D. B., & Herijawati, E. (2023). 1742-1751. Journal Of Social Science Research, 3(4), 1742–1751.
Tambahani, G. D., Sumual, T. E. M., & Kewo, C. (2021). Pengaruh Perencanaan Pajak (Tax Planning) dan Penghindaran Pajak (Tax Avoidance) Terhadap Nilai Perusahaan. Jurnal Akuntansi Manado (JAIM), 2(2), 142–154. https://doi.org/10.53682/jaim.v2i2.1359
Trafalgar, J., & Africa, L. A. (2019). The effect of capital structure, institutional ownership, managerial ownership, and profitability on company value in manufacturing companies. The Indonesian Accounting Review, 9(1), 27–38. https://doi.org/10.14414/tiar.v9i1.1619
Wulandari, B., Albert, A., Harianto, F., & Sovi, S. (2021). Pengaruh DER, ROE, SG, NPM, CR, DPR terhadap Nilai Perusahaan Sektor Industri yang terdaftar di BEI. Owner, 5(1), 96–106. https://doi.org/10.33395/owner.v5i1.326
Zulfa, A., Novietta, L., & Azhar, M. K. S. (2022). Pengaruh Profitabiltias, Likuiditas, Ukuran Perusahaan terhadap Nilai Perusahaan dengan Struktur Modal Sebagai Variabel Moderasi. Jurnal Ekonomi, Manajemen, Akuntansi, Bisnis Digital Dan Kewirausahaan, 1(No. 4), 335–352. https://journal.sinergicendikia.com/index.php/inov
Find the perfect home for your research! If this journal isn't the right fit, don't worry—we offer a wide range of journals covering diverse fields of study. Explore our other journals to discover the ideal platform for your work and maximize its impact. Browse now and take the next step in publishing your research:
| HOME | Yasin | AlSys | Anwarul | Masaliq | Arzusin | Tsaqofah | Ahkam | AlDyas | Mikailalsys | Edumalsys | Alsystech | AJSTEA | AJECEE | AJISD | IJHESS | IJEMT | IJECS | MJMS | MJAEI | AMJSAI | AJBMBR | AJSTM | AJCMPR | AJMSPHR | KIJST | KIJEIT | KIJAHRS |