PENGARUH LIKUIDITAS, PROFITABILITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

Abstract

This study aims to analyze the effect of liquidity, profitability, and capital structure on firm value with firm size as a moderating variable in food and beverage subsector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. This study employs a quantitative approach using secondary data obtained from companies’ financial statements and annual reports. The sample was determined using the purposive sampling method with a total of 156 observations. The data analysis techniques include descriptive statistics, classical assumption tests, multiple linear regression analysis, t-test, F-test, and Moderated Regression Analysis. The results indicate that profitability has an effect on firm value, while liquidity and capital structure do not affect firm value. In addition, firm size is unable to moderate the relationship between liquidity, profitability, and capital structure and firm value. These findings indicate that investors tend to place greater emphasis on a company’s ability to generate profits when assessing firm value in the sector.