The Effect of Capital Structure, Growth, and Firm Size on Firm Value
Case Study on Infrastructure Industry Companies Stated on the IDX 2019 - 2023
DOI:
https://doi.org/10.21009/japa.0501.15Keywords:
Capital Structure, Growth, Firm Size, Firm ValueAbstract
This research aims to determine the impact of capital structure, growth, and firm size affect the infrastructure industry companies stated on the Indonesia Stock Exchange (IDX) from 2019 and 2023 in terms of their firm value. The sample size was determined using purposive sampling. The research employed secondary data, which was sourced from the 2019 until 2023 financial statements of infrastructure companies. The multiple linear regression analysis method was applied in this investigation. Version 26 of SPSS was used to an analyze the data. The findings of this research indicated that a firm's value is influenced by its capital structure, growth, and size.
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Rahayu, N. T., & Darim, A. (2020). Analysis of Influence of Capital Structure, Firm Size, Firm Growth and Profitability on Corporate Value. International Journal of Global Accounting, Management, Education, and Entrepreneurship, 1(1), 10–27. https://doi.org/10.48024/ijgame2.v1i1.11
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Suwardika, I. N. A., & Mustanda, I. K. (2017). Pengaruh Leverage, Ukuran Perusahaan, Pertumbuhan Perusahaan, dan Profitabilitas Terhadap Nilai Perusahaan pada Perusahaan Properti. 6(3), 1248–1277.
Syardiana, G., Rodoni, A., & Putri, Z. E. (2016). Pengaruh Investment Opportunity Set, Struktur Modal, Pertumbuhan Perusahaan, dan Return on Asset Terhadap Nilai Perusahaan. Akuntabilitas, 8(1), 39–46. https://doi.org/10.15408/akt.v8i1.2760
Tusolihah, N., & Hunein, H. (2022). Pengaruh Pertumbuhan Perusahaan, Struktur Modal dan Agresivitas Pajak Terhadap Nilai Perusahaan. SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business, 5(2), 262–270. https://doi.org/10.37481/sjr.v5i2.461
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Wulandari, S., Masitoh W, E., & Siddi, P. (2021). Pengaruh Profitabilitas, Struktur Modal, Ukuran Perusahaan, Pertumbuhan Perusahaan dan Struktur Aset Terhadap nilai perusahaan. Akuntabel: Jurnal Ekonomi dan Keuangan, 18(4), 753–761. https://doi.org/10.30872/jakt.v18i4.9941
Anggraini, D., & Siska, A. (2021). Pengaruh Struktur Modal, Profitabilitas dan Ukuran Perusahaan terhadap Nilai Perusahaan. Management & Accounting Expose, 2(1), 1–9. https://doi.org/10.36441/mae.v2i1.92
Antoro, W., Sanusi, A., & Asih, P. (2020). The Effect of Profitability, Firm Size, Firm Growth on Firm Value Through Capital Structure in Food and Beverage Companies on the Indonesia Stock Exchange 2014-2018 Period. International Journal of Advances in Scientific Research and Engineering, 06(09), 36–43. https://doi.org/10.31695/IJASRE.2020.33876
Audina, M., & Sasongko, N. (2023). The Influence of Capital Structure, Firm Growth, and Firm Size on Firm Value in Infrastructure Companies Listed on the Indonesia Stock Exchange (IDX) Period 2017-202. American Journal of Sciences and Engineering Research, 6(2), 280–286.
Boenyamin, A. W., & Santioso, L. (2023). The Effect of Profitability, Capital Structure, Firm Size, and Asset Growth on Firm Value. International Journal of Application on Economics and Business, 1(3), 1097–1107. https://doi.org/10.24912/ijaeb.v1i3.1097-1107
Chandra, J., & Hastuti, R. T. (2023). Pengaruh Profitabilitas dan Pertumbuhan Perusahaan Terhadap Nilai Perusahaan dengan Moderasi Struktur Modal. Jurnal Multiparadigma Akuntansi, 5(3), 1336–1344. https://doi.org/10.24912/jpa.v5i3.25248
Dewi, P. Y. S., Yuniarta, G. A., & Atmadja, A. T. (2014). Pengaruh Struktur Modal, Pertumbuhan Perusahaan dan Profitabilitas Terhadap Nilai Perusahaan pada Perusahaan LQ 45 Di BEI Periode 2008-2012. Jurnal Ilmiah Mahasiswa Akuntansi, 2(1), 1–10.
Diana, W., & Munandar, A. (2024). The Effect of Firm Size, Capital Structure, and Profitability on Firm Value Moderated by Dividend Policy. International Journal of Economics Development Research, 5(1), 50–67.
Fasridon, F., & Angraini, Y. (2021). Pengaruh Struktur Kepemilikan, Profitabilitas, dan Struktur Modal Terhadap Nilai Perusahaan pada Perusahaan Property and Real Estate yang Terdaftar di Bursa Efek Indonesia. Kompak :Jurnal Ilmiah Komputerisasi Akuntansi, 14(1), 205–218. https://doi.org/10.51903/kompak.v14i1.271
Hamam, M. D., Layyinaturrobaniyah, L., & Herwany, A. (2020). Capital Structure and Firm’s Growth in Relations to Firm Value at Oil and Gas Companies Stated in Indonesia Stock Exchange. Journal of Accounting Auditing and Business, 3(1), 14. https://doi.org/10.24198/jaab.v3i1.24760
Husaeni, U. A. (2018). Determinants of Capital Structure in Companies Stated in The Jakarta Islamic Index. International Journal of Economics, Management and Accounting, 26(2), 443–456.
Ikhsani, K. & Muliana. (2019). The Effect of Capital Structure and Firm Growth on the Value of Infrastructure Industrys in the IDX. Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019). Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019), Ulsan, South Korea. https://doi.org/10.2991/icoi-19.2019.14
Irawati, D. M., Hermuningsih, S., & Maulida, A. (2021). Analisis Pengaruh Struktur Modal, Ukuran Perusahaan, dan Pertumbuhan Perusahaan terhadap Nilai Perusahaan. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 4(3), 813–827. https://doi.org/10.47467/alkharaj.v4i3.741
Irsad, M., Sudarsi, S., & Kartika, A. (2023). The Impact of Capital Structure, Firm Size, Growth, and Profitability on Firm Value. EconBank: Journal of Economics and Banking, 5(2), 202–213. https://doi.org/10.35829/econbank.v5i2.336
Karimah, R., Rahayu, S. M., & Damayanti, C. R. (2024). The Influence of Corporate Governance, Capital Structure, Firm Growth on Dividend Policy and Firm Value in Consumer Goods Industry. PROFIT: Jurnal Administrasi Bisnis, 18(1), 30–45. https://doi.org/10.21776/ub.profit.2024.018.01
Krisnando, K., & Novitasari, R. (2021). Pengaruh Struktur Modal, Pertumbuhan Perusahaan, dan Firm Size Terhadap Nilai Perusahaan pada Perusahaan Consumer Goods yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2017-2020. Jurnal Akuntansi dan Manajemen, 18(02), 71–81. https://doi.org/10.36406/jam.v18i02.436
Kurniawan, K., Bangun, N., Wijaya, H., & Rahardjo, T. (2019). Pengaruh Ukuran Perusahaan, Struktur Modal, dan Pertumbuhan Perusahaan terhadap Nilai Perusahaan. STATERA: Jurnal Akuntansi dan Keuangan, 1(1), 1–15. https://doi.org/10.33510/statera.2019.1.1.1-15
Liow, K. H. (2010). Firm Value, Growth, Profitability and Capital Structure of Stated Real Estate Companies: An International Perspective. Journal of Property Research, 27(2), 119–146. https://doi.org/10.1080/09599916.2010.500459
Mawardi, A. (2020). Analisis Pertumbuhan Perusahaan, Struktur Modal dan Kebijakan Dividen Terhadap Nilai Perusahaan Sektor Properti, Real Estate dan Konstruksi Bangunan. Eqien - Jurnal Ekonomi dan Bisnis, 7(2), 62–70. https://doi.org/10.34308/eqien.v7i2.140
Mercyana, C., Hamidah, & Kurnianti, D. (2022). Pengaruh Struktur Modal, Profitabilitas, Ukuran Perusahaan dan Likuiditas Terhadap Nilai Perusahaan Infrastruktur yang Terdaftar di BEI Periode 2016–2020. Jurnal Bisnis, Manajemen, Dan Keuangan, 3(1), 101–113. https://doi.org/10.21009/jbmk.0301.08
Pramono, A., Tama, T. J. L., & Waluyo, T. (2021). Analisis Arus Tiga Fasa Daya 197 Kva dengan Menggunakan Metode Uji Normalitas Kolmogorov-Smirnov. Jurnal Resistor (Rekayasa Sistem Komputer), 4(2), 213–216. https://doi.org/10.31598/jurnalresistor.v4i2.696
Pratiwi, R. D. (2020). Do Capital Structure, Profitability, and Firm Size Affect Firm Value? Jurnal Penelitan Ekonomi Dan Bisnis, 5(2), 194–202. https://doi.org/10.33633/jpeb.v5i2.3717
Purwohedi, U. (2022). Metode Penelitian: Prinsip dan Praktik (ii ed.). Raih Asa Sukses.
Rahayu, N. T., & Darim, A. (2020). Analysis of Influence of Capital Structure, Firm Size, Firm Growth and Profitability on Corporate Value. International Journal of Global Accounting, Management, Education, and Entrepreneurship, 1(1), 10–27. https://doi.org/10.48024/ijgame2.v1i1.11
Ramdhonah, Z., Solikin, I., & Sari, M. (2019). Pengaruh Struktur Modal, Ukuran Perusahaan, Pertumbuhan Perusahaan, dan Profitabilitas Terhadap Nilai Perusahaan (Studi Empiris pada Perusahaan Sektor Pertambangan yang Terdaftar di Bursa Efek Indonesia Tahun 2011-2017). Jurnal Riset Akuntansi dan Keuangan, 7(1), 67–82. https://doi.org/10.17509/jrak.v7i1.15117
Rezeki, E. S., Budi Santoso, S. E., Wahyuni, S., & Dirgantari, N. (2023). Effect of Capital Structure, Firm Size, Profitability, and Firm Growth on Firm Value. Asian Journal of Applied Business and Management, 2(3), 419–438. https://doi.org/10.55927/ajabm.v2i3.5837
Ruslim, H., & Michael. (2019). The Effect of Financial Ratio on Firm Value with Inflation as a Moderation Variable. Jurnal Akuntansi, 23(1), 33. https://doi.org/10.24912/ja.v23i1.458
Setiawati, P. N., & Wijaya, A. L. (2023). Pengaruh Kinerja Keuangan dan Komite Audit Terhadap Nilai Perusahaan BUMN di Bursa Efek Indonesia. Kompartemen : Jurnal Ilmiah Akuntansi, 20(2), 203. https://doi.org/10.30595/kompartemen.v20i2.13320
Silalahi, E., & Sihotang, V. (2021). Pengaruh Struktur Modal, Pertumbuhan Perusahaan dan Ukuran Perusahaan Terhadap Nilai Perusahaan pada Perusahaan Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia. Jurnal Riset Akuntansi & Keuangan, 7(2), 153–166. https://doi.org/10.54367/jrak.v7i2.1381
Sintia, I., Pasarella, M. D., & Nohe, D. A. (2022). Perbandingan Tingkat Konsistensi Uji Distribusi Normalitas pada Kasus Tingkat Pengangguran di Jawa. Prosiding Seminar Nasional Matematika dan Statistika, 2, 322–333.
Soemarso, S. R. (2018). Etika dalam Bisnis dan Profesi Akuntan dan Tata Kelola Perusahaan (2nd ed.). Salemba Empat.
Susanti, N., & Restiana, N. G. (2018). What’s The Best Factor to Determining Firm Value? Jurnal Keuangan dan Perbankan, 22(2), 301–309.
Suwardika, I. N. A., & Mustanda, I. K. (2017). Pengaruh Leverage, Ukuran Perusahaan, Pertumbuhan Perusahaan, dan Profitabilitas Terhadap Nilai Perusahaan pada Perusahaan Properti. 6(3), 1248–1277.
Syardiana, G., Rodoni, A., & Putri, Z. E. (2016). Pengaruh Investment Opportunity Set, Struktur Modal, Pertumbuhan Perusahaan, dan Return on Asset Terhadap Nilai Perusahaan. Akuntabilitas, 8(1), 39–46. https://doi.org/10.15408/akt.v8i1.2760
Tusolihah, N., & Hunein, H. (2022). Pengaruh Pertumbuhan Perusahaan, Struktur Modal dan Agresivitas Pajak Terhadap Nilai Perusahaan. SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business, 5(2), 262–270. https://doi.org/10.37481/sjr.v5i2.461
Wirianata, H., & Wijoyo, A. (2020). Analisis Faktor-Faktor Struktur Modal dan Nilai Perusahaan. Jurnal Ekonomi, 25(3), 352. https://doi.org/10.24912/je.v25i3.685
Wulandari, S., Masitoh W, E., & Siddi, P. (2021). Pengaruh Profitabilitas, Struktur Modal, Ukuran Perusahaan, Pertumbuhan Perusahaan dan Struktur Aset Terhadap nilai perusahaan. Akuntabel: Jurnal Ekonomi dan Keuangan, 18(4), 753–761. https://doi.org/10.30872/jakt.v18i4.9941
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Published
2024-07-13
How to Cite
Ardelia, S. S., Gurendrawati, E., & Armeliza, D. (2024). The Effect of Capital Structure, Growth, and Firm Size on Firm Value: Case Study on Infrastructure Industry Companies Stated on the IDX 2019 - 2023. Jurnal Akuntansi, Perpajakan Dan Auditing, 5(1), 227–243. https://doi.org/10.21009/japa.0501.15
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