Catalysts of corporate value: exploring the interplay between capital structure, company traits, and profitability in the indonesian consumer goods industry (BEI, 2021-2023)
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Abstract
This study investigates the interplay between capital structure, company traits, and profitability in the Indonesian Consumer Goods Industry from 2021 to 2023. Through quantitative exploration, 52 companies listed on the Indonesian Stock Exchange were analyzed. The research assesses the impact of capital structure and company characteristics on company value, considering factors like debt usage, profitability, and stock prices. Findings reveal varying influences on company valuation, with implications for financial decision-making and market positioning. The study contributes to understanding the dynamics of corporate value drivers in a specific industry context, offering insights for strategic management and financial planning in the consumer goods sector
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How to Cite
Sarumpaet, T. L., Bayunitri, B. I., & Lestari, I. S. (2024). Catalysts of corporate value: exploring the interplay between capital structure, company traits, and profitability in the indonesian consumer goods industry (BEI, 2021-2023). Enrichment : Journal of Management, 14(1), 108-117. https://doi.org/10.35335/enrichment.v14i1.1879
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Vargo, R., & Tobing, C. L. (2022). Enrichment : Journal of Management Characteristics Of Sustainibility Report Publications On Companies. 12(4).
Artanti, R. A., & Rahmiyati, N. (2022). Pengaruh Likuiditas, Leverage Dan Struktur Modal Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Mediasi. Prima Ekonomika, 13(2), 76. https://doi.org/10.37330/prima.v13i2.152
Bambang, S., Elen, P., Titiek, S., & Muhammad, A. M. (2020). Determinants of Firm Value and Profitability: Evidence from Indonesia. The Journal of Asian Finance, Economics and Business, 7(11), 769–778. https://doi.org/10.13106/JAFEB.2020.VOL7.NO11.769
Bhandari, A., Evans, D., Golosov, M., & Sargent, T. J. (2017). Fiscal Policy and Debt Management with Incomplete Markets*. The Quarterly Journal of Economics, 132(2), 617–663. https://doi.org/10.1093/qje/qjw041
Chabachib, M., Hersugondo, H., Ardiana, E., & Pamungkas, I. D. (2019). Analysis of Company Characteristics of Firm Values: Profitability as Intervening Variables. International Journal of Financial Research, 11(1), 60. https://doi.org/10.5430/ijfr.v11n1p60
Eli Safrida. (2017). PENGARUH STRUKTUR MODAL, PERTUMBUHAN PERUSAHAAN, PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (Studi pada Perusahaan Manufaktur Di Indonesia). Jumal Akuntansi Riset, 3.
Ghozali, I. (2020). Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.0 Untuk Penelitian Empiris. Semarang.
Goso, G. (2022). The Influence of Capital Structure, Liquidity, and Company Size on Sulselbar Bank’s Profitability. Enrichment : Journal of Management, 12(4), 2847–2853. https://doi.org/10.35335/enrichment.v12i4.745
Hair et al. (2017). A primer on partial least squares structural equation modeling (PLS-SEM). In International Journal of Research & Method in Education (Vol. 38, Issue 2). https://doi.org/10.1080/1743727x.2015.1005806
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203
Herciu, M., & Ogrean, C. (2017). Does Capital Structure Influence Company Profitability? Studies in Business and Economics, 12(3), 50–62. https://doi.org/10.1515/sbe-2017-0036
Hirdinis, M. (2019). Capital structure and firm size on firm value moderated by profitability. International Journal of Economics and Business Administration, 7(1), 174–191. https://doi.org/10.35808/ijeba/204
Hult, J. F. H. J. • G. T. M., Sarstedt, C. M. R. • M., & Ray, N. P. D. • S. (2021). Review of Partial Least Squares Structural Equation Modeling (PLS-SEM) Using R: A Workbook. In Springer. https://doi.org/10.1080/10705511.2022.2108813
Kasasbeh, F. I. (2021). Impact of financing decisions ratios on firm accounting-based performance: evidence from Jordan listed companies. Future Business Journal, 7(1), 1–10. https://doi.org/10.1186/s43093-021-00061-0
Manoppo, H., & Arie, F. (2016). Pengaruh Struktur Modal, Ukuran Perusahaan Dan Profitabilitas Terhadap Nilai Perusahaan Otomotif Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2014. Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 4(2), 485–497.
Mishra, R. K., & Kapil, S. (2018). Board characteristics and firm value for Indian companies. Journal of Indian Business Research, 10(1), 2–32. https://doi.org/10.1108/JIBR-07-2016-0074
Noviani, A. V., Atahau, A. D. R., & Robiyanto, R. (2019). Struktur modal, profitabilitas, dan nilai perusahaan: Efek moderasi Good Corporate Governance. Jurnal Ekonomi Dan Bisnis, 22(2), 391–415. https://doi.org/10.24914/jeb.v22i2.2601
Nur, E. D. P. (2021). The Impact of Social Media on Firm Value: A Case Study of Oil and Gas Firms in Indonesia. Journal of Asian Finance, Economics and Business, 8(3), 0987–0996. https://doi.org/10.13106/jafeb.2021.vol8.no3.0987
Prabowo, B., Rochmatulaili, E., Rusdiyanto, & Sulistyowati, E. (2020). Corporate governance and its impact in company’s stock price: case study. Utopia y Praxis Latinoamericana, 25(Extra10), 187–196. https://doi.org/10.5281/zenodo.4155459
Purbawangsa, I. B. A., Solimun, S., Fernandes, A. A. R., & Mangesti Rahayu, S. (2020). Corporate governance, corporate profitability toward corporate social responsibility disclosure and corporate value (comparative study in Indonesia, China and India stock exchange in 2013-2016). Social Responsibility Journal, 16(7), 983–999. https://doi.org/10.1108/SRJ-08-2017-0160
Purbawangsa, I., & Suana, I. (2019). Karakteristik Perusahaan dan Struktur Kepemilikan Sebagai Determinan Struktur Modal, Kinerja Keuangan, serta Nilai Perusahaan. Matrik : Jurnal Manajemen, Strategi Bisnis Dan Kewirausahaan, 184. https://doi.org/10.24843/MATRIK:JMBK.2019.v13.i02.p06
Putro, D. C., & Risman, A. (2021). the Effect of Capital Structure and Liquidity on Firm Value Mediated By Profitability. The EUrASEANs: Journal on Global Socio-Economic Dynamics, 2(2(27)), 26–34. https://doi.org/10.35678/2539-5645.2(27).2021.26-34
Rts dheby dwi thamara, Hizazi, A., & Ridwan, M. (2023). The Influence of Capital Structure and Company Characteristics on Company Value as Mediated by Profitability. Asian Journal of Natural Sciences, 2(4), 235–238. https://doi.org/10.55927/ajns.v2i4.6496
Ruiz-Blanco, S., Romero, S., & Fernandez-Feijoo, B. (2022). Green, blue or black, but washing–What company characteristics determine greenwashing? Environment, Development and Sustainability, 24(3), 4024–4045. https://doi.org/10.1007/s10668-021-01602-x
Vargo, R., & Tobing, C. L. (2022). Enrichment : Journal of Management Characteristics Of Sustainibility Report Publications On Companies. 12(4).