Research Paper
Year: 2023 | Month: March | Volume: 10 | Issue: 3 | Pages: 184-195
DOI: https://doi.org/10.52403/ijrr.20230322
The Influence of Profitability, Firm Size, Dividend Policy, and Intellectual Capital on Firm Value with Good Corporate Governance as a Moderating Variable in the Food and Beverage Sub-Sector of Manufacturing Companies Listed on the Indonesia Stock Exchange Period 2011 – 2020
Taufiq Kamil KN1, Abdillah Arif Nasution2, Sirojuzilam3
1,2,3Department of Accounting, Faculty of Economics and Business Universitas Sumatera Utara, Indonesia
Corresponding Author: Taufiq Kamil KN
ABSTRACT
The purpose of this study was to determine and test the effect of profitability, firm size, dividend policy, and intellectual capital on the value of manufacturing companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange and to test whether good corporate governance can moderate the relationship between the independent variables and the dependent variable. This research is causal research using secondary data. The population of this study is companies that are members of the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange from 2011 to 2020. The method of determining the sample using purposive sampling was to obtain ten company samples multiplied by ten years of study so that 100 observational data were obtained. The analysis technique used in this study uses panel data regression analysis and moderating test with the EViews 10 software tool. The results of this study partially show that profitability has a negative and significant effect on firm value, firm size has a positive and significant impact on firm value, dividend on policy has a positive effect and significant to firm value, and intellectual capital has a negative and insignificant influence on firm value. A good corporate governance variable moderates the impact of dividend policy and intellectual capital on firm value and does not moderate the effect of profitability and firm size on firm value.
Keywords: Profitability, Firm Size, Dividend Policy, Intellectual Capital, Good Corporate Governance, and Firm Value.
[PDF Full Text]