The Influence of Profitability and Price Earning Ratio on Company Value through Capital Structure in the Banking Industry Sector on the Idx
1Leonardo Sihombing, 2Ismail Razak, 3Harry Indratjahyo
1,2,3Faculty of Economics,Universitas Krisnadwipayana Jakarta
https://doi.org/10.47191/jefms/v5-i10-25ABSTRACT:
The purpose of this study was to examine and analyze the effect of profitability and price earning ratio on company value through capital structure in the banking industry sector on the IDX. This research is explanatory through hypothesis testing to test the causal relationship between the variables of profitability, price earning ratio, company value and capital structure. The data used in this research is secondary data from annual report data and financial report data of banking companies. The sampling method used purposive sampling. Hypothesis testing in this study uses path analysis.
The results showed that profitability did not support the increase in the capital structure of the banking industry sector on the Indonesia Stock Exchange, and the price earning ratio did not support the capital structure of the banking industry sector on the Indonesia Stock Exchange. Then, profitability supports an increase in the value of the banking industry sector company on the Indonesia Stock Exchange and the price earning ratio does not support an increase in the value of the banking industry sector company on the Indonesia Stock Exchange, the capital structure does not support an increase in the value of the banking industry sector company on the Indonesia Stock Exchange, and there is no support mediation between profitability and price earning ratio to company value through capital structure, so that capital structure cannot be an intermediary from profitability and price earning ratio to company value.
KEYWORDS:
Profitability, Price Earning Ratio, Company value, Capital Structure.
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