The Effects of Profitability, Growth, and Size on Company Value With Capital Structure as Control Variable

Dharma, Robby and Dalimunthe, Letnan and Hakim Harahap, Arbiuddin Syahputra and Susriyanti, Susriyanti and Rahayu, Sartika Putri (2019) The Effects of Profitability, Growth, and Size on Company Value With Capital Structure as Control Variable. Advances in Economics, Business and Management Research, 145. pp. 439-445.

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Abstract

This study intended to reveal the effects of profitability, growth, and company size on company value, with capital structure as control variable, among manufacturing companies listed on the Indonesia Stock Exchange (IDX). This study used 165 manufacturing companies listed on IDX from 2013 to 2017 as samples. These samples were determined by using the purposive sampling method, in order to obtain 51 companies and 255 number of sample data. Data analysis technique used was the multiple regression analysis of data panels using Eviews 9. The selection of data panel model used in this study was the Fixed-Effect Model (FEM). The partial results of this study show that the profitability had a positive and significant effect on Company Value. Growth had a negative but not significant effect on Company Value. Company Size had a negative and significant effect on Company Value. Meanwhile, Profitability, Growth, and Size, with Capital Structure as Control Variable, simultaneously had a positive and significant effect on Company Value. Keywords: Profitability, Growth, Size, Capital Structure, Company Value

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