以债务政策为调节变量的销售增长和盈利能力对公司价值的影响

Jangasih Situngkir, A. H. Mukti, M. Christiningrum
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引用次数: 0

摘要

财务比率对战略决策具有多种功能。盈利能力或销售增长等几个比率是资本市场最重要的信号。本研究旨在研究以债务政策为调节变量的销售增长和盈利能力对2018-2020年在印度尼西亚证券交易所上市的消费品行业制造业子行业价值的影响。样本共165家公司。研究方法采用定量方法,采用SPSS V23数据处理工具进行多元线性回归检验。根据模型1的检验结果,结果显示销售增长对企业价值没有影响,盈利能力对企业价值有正向影响。模型2检验的结果表明,销售增长对企业价值有正向影响,盈利能力对企业价值有正向影响,债务政策不调节销售增长对企业价值的影响,债务政策不调节盈利能力对企业价值的影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The Effect of Sales Growth and Profitability on Company Value with Debt Policy as Moderating Variables
Financial ratio have several function for strategic decision making. Several ratio such as profitability or sales growth are the most important for capital market signal. This Research aims to examine the effect of sales growth and profitability with debt policy as the moderating variable on the value of the manufacturing industry sub-sector of the consumer goods industry listed on the Indonesia stock exchange in 2018-2020. With a total sample of 165 companies. The research methodology is quantitative with multiple linear regression testing with SPSS V23 data processing tools.  Based on the result of model 1 testing, the result showed that sales growth had no effect on firm value, and profitability has a positive effect on firm value. The result of model 2 testing, the resulting research shows that sales growth has a positive effect on firm value, Profitability has a positive effect on firm value, debt policy does not moderate the effect of sales growth on firm value and debt policy does not moderate the effect of profitability on firm value.
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