The Influence of Profitability, Ownership Structure, and Macroeconomics on Company Value with Capital Structure as an Intervening Variable on Company Construction in Indonesia Stock Exchange Before and After the 2014 Government Era
DOI:
https://doi.org/10.55927/esa.v4i3.72Keywords:
Profitability, Ownership Structure, Macroeconomics, Firm Value, Capital StructureAbstract
A study has been conducted with the title The Effect of Profitability, Ownership Structure, and Macroeconomics on Company Value with Capital Structure as an Intervening Variable in Construction Companies on the Indonesia Stock Exchange Before and After the 2014 Government Era. The method includes purposive sampling, obtaining 9 samples from the population of construction companies actively listed on the Indonesia Stock Exchange for the period 2007-2023. The results of the study indicate that Profitability has a positive effect on capital structure in the period 2007-2023, as well as in the period before and after the 2014 government. Institutional ownership has a negative effect on capital structure in the period 2007-2023, as well as in the period before and after the 2014 government. Inflation has no effect on capital structure in the period 2007-2023, as well as in the period before and after the 2014 government. Exchange rates have a negative effect on capital structure, as well as in the period before and after the 2014 government. Inflation has no effect on company value in the period 2007-2023, as well as in the period before and after the 2014 government. Capital structure is able to mediate the effect of profitability, but has not been able to mediate in the period after the 2014 government. Capital structure is able to mediate the effect of institutional ownership on the value of the company, but has not been able to mediate in the period after the 2014 government. Capital structure has not been able to mediate the effect of inflation on the value of the company. Capital structure is able to mediate the influence of exchange rates on firm value in the period 2007-2023 and in the period before the 2014 government, but has not been able to mediate in the period after the 2014 government.
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