Capital Structure, Profitability, Hedging Policy, Firm Size, and Firm Value: Mediation and Moderation Analysis

Authors

  • Erik Syawal Alghifari Program Doktor Manajemen, Sekolah Pascasarjana, Universitas Pendidikan Indonesia, Bandung, Indonesia
  • Ikin Solikin Program Doktor Manajemen, Sekolah Pascasarjana, Universitas Pendidikan Indonesia, Bandung, Indonesia
  • Nugraha Program Doktor Manajemen, Sekolah Pascasarjana, Universitas Pendidikan Indonesia, Bandung, Indonesia
  • Ika Waspada Program Doktor Manajemen, Sekolah Pascasarjana, Universitas Pendidikan Indonesia, Bandung, Indonesia
  • Lilis Puspitawati Program Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia, Bandung, Indonesia

DOI:

https://doi.org/10.34010/icobest.v3i.204

Abstract

The purpose of this research is to determine the impact of the capital structure on firm
value through profitability moderated by hedging policies and firm size. Verification analysis is
used in this study, with data analysis techniques through conditional process analysis. For the
2016-2020 period, the research population consists of a variety of industrial sector
manufacturing companies listed on the Indonesia Stock Exchange. The results show that: capital
structure has an impact on profitability; capital structure and profitability have an impact on firm
value; profitability does not mediate the effect of capital structure on firm value, which is
moderated by hedging policies and firm size; hedging policies and firm size moderate the direct
effect of capital structure on firm value; and hedging policies and firm size do not moderate the
indirect effect of profitability on firm value.

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Published

2023-03-10

Issue

Vol. 5 (2022): Proceeding of The 5th International Conference on Business, Economics, Social Sciences, and Humanities (ICOBEST)

Section

Articles

How to Cite

Erik Syawal Alghifari, Ikin Solikin, Nugraha, Ika Waspada, & Lilis Puspitawati. (2023). Capital Structure, Profitability, Hedging Policy, Firm Size, and Firm Value: Mediation and Moderation Analysis. Proceeding of International Conference on Business, Economics, Social Sciences, and Humanities, 5, 702-715. https://doi.org/10.34010/icobest.v3i.204