KAPITAL : Jurnal Akutansi & Pasar Modal

PERAN LIKUIDITAS MEMODERASI PENGARUH PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Annisa Sholikhatun Nur Rahmawati — 2026-07-20

Purpose― This study aims to examine the role of

liquidity in moderating the effect of profitability and

dividend policy on firm value.

Method— This study uses a quantitative approach with

the population and research samples using manufacturing

companies in the food & beverage sub-sector listed on the

Indonesia Stock Exchange during the 2018-2022 period.

Finding— The first finding explains that the higher the company's profit has an effect on increasing company value. The second finding explains that the higher the dividend policy distributed has an effect on increasing the value of the company. The third finding results explain the profitability and dividend policy variables simultaneously on firm value, The fourth finding result explains that liquidity cannot moderate profitability on firm value, The fifth finding result explains that liquidity cannot moderate dividend policy on firm value.

Implikasi—Theoretical practical implications are supported by agency theory and signal theory which explain profitability has an influence on firm value, dividend policy has an influence on firm value, and liquidity cannot moderate the relationship between profitability and firm value.

Originality— Throughout the observation until now, we have not found the same research with the topic of the role of liquidity moderating the effect of profitability and dividend policy on firm value.

PENGARUH LIKUIDITAS, SOLVABILITAS, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Eka Ayu Firnanda — 2026-07-20

Purpose― The aim of this research is to determine and prove the effect of financial ratios on company value in food and beverage companies listed on the Indonesia Stock Exchange for the 2018-2022 period.

Method— This research uses a quantitative approach. Where the population of this study is food and beverage companies listed on the Indonesian stock exchange in 2018-2022. The analytical method used is multiple linear regression analysis calculated using the SPSS version 25 application.

Finding— The population of this research is 84 food and beverage companies listed on the Indonesia Stock Exchange for the 2018-2022 period. Based on the sampling method using purposive sampling, a sample of 10 companies was obtained.

Implikasi— practical application of this research can help universities, future researchers and companies. Theoretical implications are supported by agency theory and signaling theory.

Originality— Based on the test results, hypothesis testing shows that Liquidity (CR) has no and insignificant effect on company value, Solvency (DER) has a significant negative effect on company value, Profitability (ROE) has a positive and significant effect on company value . Simultaneously, liquidity, solvency and profitability have a significant effect on company value.

PERAN GOOD CORPORATE GOVERNANCE PEMODERASI GROWTH OPPORTUNITIES DAN SOLVABILITAS TERHADAP KONSERVATISME AKUNTANSI

Nunik Puji Rahayu — 2026-07-20

Purpose: This study aims to obtain empirical evidence of the role of Good Corporate Governance Moderating Growth Opportunities and Solvency on Accounting Conservatism.

Methodology: This study uses a quantitative approach with the population and research samples using manufacturing companies in the Property and Real Estate sub-sector listed on the Indonesia Stock Exchange during the 2018-2022 period.

Findings: The first finding explains that higher growth opportunities have an effect on increasing accounting conservatism. The second finding results the higher the level of solvency has an effect on increasing accounting conservatism. The third finding result explains that growth opportunities and solvency variables simultaneously affect accounting conservatism. The results of the fourth finding explain that good corporate governance is not able to moderate growth opportunities on accounting conservatism. The fifth finding result explains that good corporate governance is not able to moderate solvency on accounting conservatism.

Research implications: The practical implications of the results of this study can help universities, further researchers and companies. The theoretical implications of the results of this study can explain agency theory as a grand theory and signaling theory as a supporting theory. The implications of the research results prove that the higher the level of growth opportunities and solvency affects accounting conservatism.

Originality: As far as the researcher's observation so far, we have not found the same research with the topic of the role of Good Corporate Governance in moderating the effect of Growth Opportunities and Solvency on Accounting Conservatism.