PENGARUH FIRM SIZE, COMPANY GROWTH DAN SALES GROWTH TERHADAP FIRM VALUE DENGAN CAPITAL STRUCTURE SEBAGAI VARIABEL MODERASI (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2017-2018)

Abstract

The current economic condition creates a tight competition between companies. This motivates the company to increase firm value in order to maintain the company's economic position. This study aims to provide empirical evidence regarding the influence of firm size, company growth, and sales growth on firm value with capital structure as moderating variables, and profitability and leverage as control variables. The data used is secondary data in the form of annual financial reports downloaded from the official IDX website, namely www.idx.co.id. The population of this research is manufacturing companies listed on the IDX in 2017-2018. The sample selection technique used purposive sampling method in order to obtain 90 companies that match the criteria. The analysis technique uses multiple linear regression and Moderated Regression Analysis (MRA) which is tested with the SPSS version 20 application. The results show that firm size and profitability have a significant effect on firm value. Meanwhile, company growth, sales growth and leverage have no significant effect on firm value. Capital structure is able to moderate the relationship between firm size and firm value but is unable to moderate the relationship between company growth and sales growth on firm value.
Keywords: firm size, company growth, sales growth, firm value, and capital structure