PENGARUH STRUKTUR MODAL DAN KEMAMPUAN MANAJERIAL TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI

Fina Khilyah Khasanah, . (2026) PENGARUH STRUKTUR MODAL DAN KEMAMPUAN MANAJERIAL TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI. Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.

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Abstract

This study aims to examine the effect of capital structure and managerial ability on firm value, with managerial ownership serving as a moderating variable. The study employs data from non-primary consumer sector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Based on the predetermined sampling criteria, a total of 144 observations were obtained. Firm value is measured using Tobin’s Q, while capital structure is proxied by the Debt-to-Equity Ratio (DER). Managerial ability is measured using the two-stage Demerjian approach. Managerial ownership is incorporated as a moderating variable, whereas profitability and firm age are included as control variables. The data were analyzed using panel data regression with the Random Effect Model approach. The findings indicate that neither capital structure nor managerial ability has a significant effect on firm value, either directly or when moderated by managerial ownership. In contrast, profitability and firm age are found to have a significant effect on firm value. These results suggest that investors continue to regard profitability as a primary consideration in evaluating firms, while relatively younger firms or those more recently listed in the capital market tend to receive more favorable market valuations.

Item Type: Thesis (Skripsi)
Additional Information: [No. Panggil: 2210112135] [Pembimbing: Munasiron Miftah] [Penguji 1: Murdhaningsih] [Ketua Penguji: Satria Yudhia Wijaya]
Uncontrolled Keywords: Firm Value, Capital Structure, Managerial Ability, Managerial Ownership, Profitability, Firm Age
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
H Social Sciences > HG Finance
Divisions: Fakultas Ekonomi dan Bisnis > Program Studi Akuntansi (S1)
Depositing User: FINA KHILYAH KHASANAH
Date Deposited: 04 Sep 2026 09:13
Last Modified: 04 Sep 2026 09:13
URI: http://repository.upnvj.ac.id/id/eprint/52129

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