THE EFFECT OF PROFITABILITY, CAPITAL STRUCTURE, LEVERAGE, AND COVID-19 PANDEMIC ON FIRM VALUE WITH INVESTMENT POLICY AS AN INTERVENING VARIABLE (Study on Food and Beverage Companies Listed on the Indonesia Stock Exchange (IDX) 2018-2021 Period)

Authors

  • Candra Novi Rochmadi Faculty of Economy and Businesss, Muhammadiyah Surakarta University, Indonesia
  • Triyono Triyono Faculty of Economy and Businesss, Muhammadiyah Surakarta University, Indonesia

DOI:

https://doi.org/10.29040/jie.v7i2.9964

Abstract

This research aims to analyze the effect of Profitability, Capital Structure, Leverage, Covid-19 pandemic on Firm value with Investment Policy as an Intervening Variable. The analysis was carried out using secondary data from food and beverage companies listed on IDX for the 2018-2021 period. The sampling technique used purposive sampling. The number of samples obtained were 46 food and beverage companies. The analysis used multiple regression analysis, path analysis, and sobel test. The results of the analysis showed that profitability, capital structure, leverage, and covid-19 have a significant effect on investment policy. Profitability has a significant effect on firm value, while capital structure, leverage and covid-19 have no effect on firm value. Investment policy has a significant effect on firm value. The result of z (sobel test) can be concluded that the investment policy variable was able to mediate the profitability, capital structure, and leverage variables Keywords: Profitability; Capital Structure; Leverage; Covid-19 Pandemic; Investment Policy.

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Published

2023-07-21

How to Cite

Rochmadi, C. N., & Triyono, T. (2023). THE EFFECT OF PROFITABILITY, CAPITAL STRUCTURE, LEVERAGE, AND COVID-19 PANDEMIC ON FIRM VALUE WITH INVESTMENT POLICY AS AN INTERVENING VARIABLE (Study on Food and Beverage Companies Listed on the Indonesia Stock Exchange (IDX) 2018-2021 Period). JURNAL ILMIAH EDUNOMIKA, 7(2). https://doi.org/10.29040/jie.v7i2.9964

Issue

Vol. 7 No. 2 (2023): EDUNOMIKA

Section

Articles

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