INFLUENCE THE EFFECT OF INSTITUTIONAL OWNERSHIP ON FIRM VALUE WITH DEBT POLICY AS A MODERATING VARIABLE

Priasmita Putri Wardanti, Abd. Rohman Taufiq, Muhamad Agus Sudrajat

Abstract


This study aims to examine the effect of institutional ownership on firm value and to determine the moderating role of debt policy in food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. A quantitative approach was employed using multiple linear regression and Moderated Regression Analysis (MRA). The sample consists of 55 companies selected through purposive sampling based on specific criteria. The results indicate that institutional ownership has a positive and significant effect on firm value. However, debt policy does not significantly moderate the relationship between institutional ownership and firm value. This finding suggests that the positive effect of institutional ownership on firm value remains consistent regardless of the company's debt policy level. This research contributes to the corporate governance and corporate financing decision literature.

 

 


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References


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