Profitabilitas, Struktur Modal, dan Nilai Perusahaan: Bukti Empiris pada Perusahaan Infrastruktur yang Terdaftar di Bursa Efek Indonesia Periode 2021–2024
Abstract
This study aims to examine the effect of profitability and capital structure on firm value in infrastructure companies listed on the Indonesia Stock Exchange during the 2021–2024 period. This study employed a quantitative research method using secondary data obtained from the companies' annual reports. The sample was selected using a purposive sampling method, resulting in 32 companies with a total of 128 observations. Data were analyzed using multiple linear regression with the assistance of SPSS version 31.
The results show that profitability has a significant effect on firm value, indicating that companies with higher profitability tend to have higher firm value. Meanwhile, capital structure has no significant effect on firm value. Simultaneously, profitability and capital structure have a significant effect on firm value. These findings indicate that profitability plays a more important role than capital structure in increasing the firm value of infrastructure companies listed on the Indonesia Stock Exchange during the 2021–2024 period.
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