Main Article Content
Abstract
The consumer goods industry in Indonesia constitutes a significant component of the national economy. The sector is confronted with significant challenges posed by the forces of globalization and digital disruption, which necessitate a continuous process of adaptation and innovation on the part of companies. The objective of this study is to examine the impact of profitability, company size, social responsibility (CSR), and capital structure on firm value. This study employs descriptive statistical analysis and multiple regression analysis to assess the interrelationships between the independent and dependent variables. The results demonstrate that profitability exerts a positive influence on firm value, while company size and social responsibility exert negative influences on firm value. Capital structure, on the other hand, exerts a positive influence on firm value. Collectively, these variables account for 93.8% of the variation in firm value, indicating a significant interdependence among them. The study concludes with practical implications for stakeholders in the consumer goods sector, suggesting that increasing profitability and reviewing capital structure can improve firm valuation
Keywords
Article Details
References
- Agustin, D. P. (2024). The Effect of Profitability, Company Size, Social Responsibility and Capital Structure on firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange (Bei) in 2010-2014. Musytari: Balance Sheet of Management, Accounting, and Economics, 3(3), 11-20.https://ejournal.warunayama.org/index.php/musytarineraca/article/view/1674
- Antoro, W., Sanusi, A., & Asih, P. (2020). The effect of profitability, company size, company growth on firm value through capital structure in food and beverage companies on the Indonesia stock exchange 2014-2018 period. International Journal of Advances in Scientific Research and Engineering, 6(09), 36-43. https://ijasre.net/index.php/ijasre/article/view/1077/1658
- Bariyyah, K. (2019). The Effect of Capital Structure, Company Growth, Company Size and Profitability on Frim Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange for the 2015-2017 Period. https://jkm.itbwigalumajang.ac.id/index.php/jra/article/download/191/150/477
- Gulo, A.A., Halawa, S., Gori, R. and Bulolo, A. (2020). The Effect of Financial Performance on Firm Value in Manufacturing Companies Listed on the Indonesia Stock Exchange. Jurnal Neraca Agung, 10(2), pp.13-20. https://ejurnal.darmaagung.ac.id/index.php/neraca/article/view/997
- Hidayat, I., & Khotimah, K. (2022). The Effect of Profitability and Company Size on Firm Value in the chemical sub-sector. Scientific Journal of Unitary Accounting, 10(1), 1-8. https://jurnal.ibik.ac.id/index.php/jiakes/article/view/1175
- Khofifah, D. N., Meiriasari, V., & Pebriani, R. A. (2022). The Effect of Corporate Social Responsibility (CSR), Company Size and Profitability on Firm Value (Study of Consumer Goods Manufacturing Companies Listed on the Indonesia Stock Exchange 2017-2019). Journal of Business, Management, and Economics, 3(1), 17-25. https://journal.jis-institute.org/index.php/jbme/article/view/620
- Kolamban, D. V., Murni, S., & Baramuli, D. N. (2020). Analysis of the effect of leverage, profitability and company size on firm value in the banking industry listed on Bei. EMBA Journal: Journal of Economic Research, Management, Business and Accounting, 8 (3). https://ejournal.unsrat.ac.id/index.php/emba/article/view/29862
- Kowawin, Y. (2022). The Effect of Profitability, Capital Structure, Corporate Social Responsibility, and Company Size, on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange for the 2015-2019 Period (Doctoral dissertation, STIE YKPN). http://repositorybaru.stieykpn.ac.id/985/1/Ringkasan%20Skripsi%20Yoseph%20Kowawin%20111628844.pdf
- Krisnando, K., & Novitasari, R. (2021). The effect of capital structure, company growth, and company size on firm value in consumer goods companies listed on the Indonesia Stock Exchange (IDX) 2017-2020 period. Journal of Accounting and Management, 18(2), 71-81. https://www.stei.ac.id/ojsstei/index.php/JAM/article/view/436
- Mahanani, H. T., & Kartika, A. (2022). The effect of capital structure, liquidity, company size, and profitability on firm value. Fair Value: Scientific Journal of Accounting and Finance, 5(1), 360-372. http://journal.ikopin.ac.id/index.php/fairvalue/article/view/2280
- Maharani, S. P. (2019). The effect of company growth, profitability and company size on firm value with capital structure as an intervening variable: Study on food and beverage subsector companies listed on the IDX in 2014-2018 (Doctoral dissertation, Maulana Malik Ibrahim State Islamic University). http://etheses.uin-malang.ac.id/14726/
- Marbun, K. E., & Mesrawati, M. (2022). The Effect of Provitability, Company Size, Social Responsibility and Capital Structure on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange in 2017-2020. Innovative: Journal Of Social Science Research, 2 (1), 765-777. http://journal.universitaspahlawan.ac.id/index.php/Innovative/article/view/4939
- Mujiyati, M., Aris, M. A., & Zulfikar, Z. (2022). Tax amnesty and firm value: Testing tax avoidance as an intervening variable. Investment Management and Financial Innovations, 19(3), 176-188. https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/16894/IMFI_2022_03_Mujiyat.pdf
- Munzir, M., Andriyan, Y., & Hidayat, R. (2023). Consumer goods: The effect of profitability and leverage on firm value mediated by corporate social responsibility. Journal of Accounting and Governance, 3(2), 153-165. https://jurnal.umj.ac.id/index.php/JAGo/article/view/14907
- Noor, H. Z. Z. (2020). Qualitative and quantitative research methodologies: practical guidelines for the preparation of theses, theses, and dissertations: 2015. Deepublish. https://books.google.com/books?hl=en&lr=&id=v37LEAAAQBAJ&oi=fnd&pg=PA2&dq=Noor,+H.Z.Z.,+2020.+Metodologi+penelitian+kualitatif+dan+kuantitatif:+petunjuk+praktis+untuk+penyusunan+skripsi,+tesis,+dan+disertasi:+tahun+2015.+Deepublish.&ots=JnkWVvsuvhw&sig=B1TjzE1UA0tlBI4w1dUO1nlGkpU
- Purba, N., Purba, D. H., & Sitorus, P. J. (2023). The Effect of Profitability, Corporate Social Responsibility and Capital Structure on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange. Journal of Accounting Thesis, 1(1), 130-139. https://ejournal.warunayama.org/index.php/musytarineraca/article/view/1674
- Putranto, P., Maulidhika, I., & Scorita, K. B. (2022). The impact of good corporate governance and profitability on firm value. Online Journal of Accountants, 7(1), 61-74. http://101.255.92.196/index.php/JOIA/article/view/1734
- Rizaldi, I. P. A., Mendra, N. P. Y., & Novitasari, L. G. (2019). The Effect of Corporate Social Responsibility, Profitability, and Capital Structure on Firm Value on the Indonesia Stock Exchange. Champion: Journal of Accounting Research, 9(2). https://e-journal.unmas.ac.id/index.php/juara/article/view/610
- Santoso, I., & Madiistriyatno, H. (2021). Metodologi penelitian kuantitatif. Indigo Media. https://scholar.google.com/scholar?hl=id&as_sdt=0%2C5&q=%28Santoso+%26+Madiistriyatno%2C+2021%29.+&btnG=
- Supeno, A. (2022). Determination of Firm Value and Capital Structure: Profitability and Liquidity in Plantation Companies in Indonesia. Journal of Economics Management Information Systems, 3(3), 240-256. https://dinastirev.org/JEMSI/article/view/743
- Umar, L. S., Mawardi, M. C., & Hariri, H. (2023). The Effect of Profitability, Company Size, Social Responsibility and Capital Structure on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the IDX for the 2018-2021 Period. e_Journal of Scientific Accounting Research, 12 (02), 264-276. https://jim.unisma.ac.id/index.php/jra/article/view/20540
- Wardhani, W. K., Titisari, K. H., & Suhendro, S. (2021). The Effect of Profitability, Capital Structure, Company Size, and Good Corporate Governance on Firm Value. Economist: Journal of Economics and Business, 5(1), 37-45. http://ekonomis.unbari.ac.id/index.php/ojsekonomis/article/view/264
- Widajantie, T. D. (2021). The Effect of Profitability, Company Size, Leverage, and Csr Disclosure on Firm Value (Empirical Study of Manufacturing Companies Listed on Bei in 2015-2019). E-Business: Scientific Journal of Economics and Business, 14 (1), 103-112. http://ujicoba.stekom.ac.id/index.php/Bisnis/article/view/374
- Yuvianita, M., Ahmar, N., & Mandagie, Y. (2022). The Effect of Corporate Social Responsibility Disclosure and Profitability on Firm Value (Empirical Study of State-Owned Companies Listed on the Indonesia Stock Exchange for the 2017-2020 Period). Pancasila Scientific Journal of Accounting (JIAP), 2(2), 138-150. https://journal.univpancasila.ac.id/index.php/JIAP/article/view/3500
References
Agustin, D. P. (2024). The Effect of Profitability, Company Size, Social Responsibility and Capital Structure on firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange (Bei) in 2010-2014. Musytari: Balance Sheet of Management, Accounting, and Economics, 3(3), 11-20.https://ejournal.warunayama.org/index.php/musytarineraca/article/view/1674
Antoro, W., Sanusi, A., & Asih, P. (2020). The effect of profitability, company size, company growth on firm value through capital structure in food and beverage companies on the Indonesia stock exchange 2014-2018 period. International Journal of Advances in Scientific Research and Engineering, 6(09), 36-43. https://ijasre.net/index.php/ijasre/article/view/1077/1658
Bariyyah, K. (2019). The Effect of Capital Structure, Company Growth, Company Size and Profitability on Frim Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange for the 2015-2017 Period. https://jkm.itbwigalumajang.ac.id/index.php/jra/article/download/191/150/477
Gulo, A.A., Halawa, S., Gori, R. and Bulolo, A. (2020). The Effect of Financial Performance on Firm Value in Manufacturing Companies Listed on the Indonesia Stock Exchange. Jurnal Neraca Agung, 10(2), pp.13-20. https://ejurnal.darmaagung.ac.id/index.php/neraca/article/view/997
Hidayat, I., & Khotimah, K. (2022). The Effect of Profitability and Company Size on Firm Value in the chemical sub-sector. Scientific Journal of Unitary Accounting, 10(1), 1-8. https://jurnal.ibik.ac.id/index.php/jiakes/article/view/1175
Khofifah, D. N., Meiriasari, V., & Pebriani, R. A. (2022). The Effect of Corporate Social Responsibility (CSR), Company Size and Profitability on Firm Value (Study of Consumer Goods Manufacturing Companies Listed on the Indonesia Stock Exchange 2017-2019). Journal of Business, Management, and Economics, 3(1), 17-25. https://journal.jis-institute.org/index.php/jbme/article/view/620
Kolamban, D. V., Murni, S., & Baramuli, D. N. (2020). Analysis of the effect of leverage, profitability and company size on firm value in the banking industry listed on Bei. EMBA Journal: Journal of Economic Research, Management, Business and Accounting, 8 (3). https://ejournal.unsrat.ac.id/index.php/emba/article/view/29862
Kowawin, Y. (2022). The Effect of Profitability, Capital Structure, Corporate Social Responsibility, and Company Size, on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange for the 2015-2019 Period (Doctoral dissertation, STIE YKPN). http://repositorybaru.stieykpn.ac.id/985/1/Ringkasan%20Skripsi%20Yoseph%20Kowawin%20111628844.pdf
Krisnando, K., & Novitasari, R. (2021). The effect of capital structure, company growth, and company size on firm value in consumer goods companies listed on the Indonesia Stock Exchange (IDX) 2017-2020 period. Journal of Accounting and Management, 18(2), 71-81. https://www.stei.ac.id/ojsstei/index.php/JAM/article/view/436
Mahanani, H. T., & Kartika, A. (2022). The effect of capital structure, liquidity, company size, and profitability on firm value. Fair Value: Scientific Journal of Accounting and Finance, 5(1), 360-372. http://journal.ikopin.ac.id/index.php/fairvalue/article/view/2280
Maharani, S. P. (2019). The effect of company growth, profitability and company size on firm value with capital structure as an intervening variable: Study on food and beverage subsector companies listed on the IDX in 2014-2018 (Doctoral dissertation, Maulana Malik Ibrahim State Islamic University). http://etheses.uin-malang.ac.id/14726/
Marbun, K. E., & Mesrawati, M. (2022). The Effect of Provitability, Company Size, Social Responsibility and Capital Structure on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange in 2017-2020. Innovative: Journal Of Social Science Research, 2 (1), 765-777. http://journal.universitaspahlawan.ac.id/index.php/Innovative/article/view/4939
Mujiyati, M., Aris, M. A., & Zulfikar, Z. (2022). Tax amnesty and firm value: Testing tax avoidance as an intervening variable. Investment Management and Financial Innovations, 19(3), 176-188. https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/16894/IMFI_2022_03_Mujiyat.pdf
Munzir, M., Andriyan, Y., & Hidayat, R. (2023). Consumer goods: The effect of profitability and leverage on firm value mediated by corporate social responsibility. Journal of Accounting and Governance, 3(2), 153-165. https://jurnal.umj.ac.id/index.php/JAGo/article/view/14907
Noor, H. Z. Z. (2020). Qualitative and quantitative research methodologies: practical guidelines for the preparation of theses, theses, and dissertations: 2015. Deepublish. https://books.google.com/books?hl=en&lr=&id=v37LEAAAQBAJ&oi=fnd&pg=PA2&dq=Noor,+H.Z.Z.,+2020.+Metodologi+penelitian+kualitatif+dan+kuantitatif:+petunjuk+praktis+untuk+penyusunan+skripsi,+tesis,+dan+disertasi:+tahun+2015.+Deepublish.&ots=JnkWVvsuvhw&sig=B1TjzE1UA0tlBI4w1dUO1nlGkpU
Purba, N., Purba, D. H., & Sitorus, P. J. (2023). The Effect of Profitability, Corporate Social Responsibility and Capital Structure on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange. Journal of Accounting Thesis, 1(1), 130-139. https://ejournal.warunayama.org/index.php/musytarineraca/article/view/1674
Putranto, P., Maulidhika, I., & Scorita, K. B. (2022). The impact of good corporate governance and profitability on firm value. Online Journal of Accountants, 7(1), 61-74. http://101.255.92.196/index.php/JOIA/article/view/1734
Rizaldi, I. P. A., Mendra, N. P. Y., & Novitasari, L. G. (2019). The Effect of Corporate Social Responsibility, Profitability, and Capital Structure on Firm Value on the Indonesia Stock Exchange. Champion: Journal of Accounting Research, 9(2). https://e-journal.unmas.ac.id/index.php/juara/article/view/610
Santoso, I., & Madiistriyatno, H. (2021). Metodologi penelitian kuantitatif. Indigo Media. https://scholar.google.com/scholar?hl=id&as_sdt=0%2C5&q=%28Santoso+%26+Madiistriyatno%2C+2021%29.+&btnG=
Supeno, A. (2022). Determination of Firm Value and Capital Structure: Profitability and Liquidity in Plantation Companies in Indonesia. Journal of Economics Management Information Systems, 3(3), 240-256. https://dinastirev.org/JEMSI/article/view/743
Umar, L. S., Mawardi, M. C., & Hariri, H. (2023). The Effect of Profitability, Company Size, Social Responsibility and Capital Structure on Firm Value in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the IDX for the 2018-2021 Period. e_Journal of Scientific Accounting Research, 12 (02), 264-276. https://jim.unisma.ac.id/index.php/jra/article/view/20540
Wardhani, W. K., Titisari, K. H., & Suhendro, S. (2021). The Effect of Profitability, Capital Structure, Company Size, and Good Corporate Governance on Firm Value. Economist: Journal of Economics and Business, 5(1), 37-45. http://ekonomis.unbari.ac.id/index.php/ojsekonomis/article/view/264
Widajantie, T. D. (2021). The Effect of Profitability, Company Size, Leverage, and Csr Disclosure on Firm Value (Empirical Study of Manufacturing Companies Listed on Bei in 2015-2019). E-Business: Scientific Journal of Economics and Business, 14 (1), 103-112. http://ujicoba.stekom.ac.id/index.php/Bisnis/article/view/374
Yuvianita, M., Ahmar, N., & Mandagie, Y. (2022). The Effect of Corporate Social Responsibility Disclosure and Profitability on Firm Value (Empirical Study of State-Owned Companies Listed on the Indonesia Stock Exchange for the 2017-2020 Period). Pancasila Scientific Journal of Accounting (JIAP), 2(2), 138-150. https://journal.univpancasila.ac.id/index.php/JIAP/article/view/3500