Capital Structure (CS), Profitability (P), and Firm Age (FA): Impact on Firm Value (FA)

Authors

  • Putu Sri Arta Jaya Kusuma Universitas Pendidikan Nasional, Denpasar, Bali, Indonesia
  • Putri Ayu Permata Dewi Universitas Pendidikan Nasional, Denpasar, Bali, Indonesia

Keywords:

Capital Structure (CS), Profitability (P), Capitalization, Firm Age (FA), Firm Value (FV)

Abstract

Firm value (FV) is an important metric for describing the current state of the firm, but the variable declined because of the COVID-19. Therefore, this research objective is to measure the impact of capital structure (CS), profitability (P), and firm age (FA) value of property and real estate firms registered in Indonesia Stock Exchange (IDX) in 2018-2021. Secondary data was used, presented as annual financial reports between 2018-2021 and sourced from the IDX web. The population were 83 firms and a purposive sampling method was employed to obtain 16 firms in line with the criteria, while multiple linear regression (MLR) analysis, coefficient of determination (R2) and F-test, as well as t-test were calculated using SPSS software. The results exhibited that CS, P and FA had a positive and significant impact on FV with a 0.960 coefficient of determination (R2). In this context, 96.0% of the price to book value (PBV) was impacted by debt to equity ratio (DER), return on equity (ROE) and FA, while 4.0% was impacted by external factors.

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Published

2024-12-18

How to Cite

Kusuma, P. S. A. J., & Dewi, P. A. P. (2024). Capital Structure (CS), Profitability (P), and Firm Age (FA): Impact on Firm Value (FA). Tennessee Research International of Social Sciences, 6(2), 264–273. Retrieved from http://triss.org/index.php/journal/article/view/74

Issue

Vol. 6 No. 2: July-December 2024

Section

Research Articles

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