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This study explores the factors influencing firm value in the manufacturing industry in Indonesia, specifically focusing on dividends, investment opportunities, and leverage. The analysis is based on publicly available data from 178 manufacturing companies in Indonesia, spanning the years 2018 to 2023. The primary objective of this research is to identify the key determinants of firm value in Indonesia's manufacturing sector, grounded in capital structure theory, through the development of a theoretical model. The findings indicate that dividend policy, investment decisions, and leverage have a positive impact on firm value within Indonesia's manufacturing industry. This study provides empirical support for both the pecking order theory and agency theory.

This study investigates the role of profit-based tangible assets and sales growth (ProTAPP) in enhancing the relationship between market ratios and financing decisions in property and real estate companies across Southeast Asia from 2019-2023. Using agency theory, pecking order theory, and trade-off theory, the research examines how EPS, TATO, and CR influence DER, with ProTAPP serving as a mediating variable. The analysis, based on panel data from ASEAN countries including Indonesia, Malaysia, Thailand, and Singapore, aims to provide practical insights for investors, corporate managers, and policymakers in optimizing financing strategies within the property and real estate sector. The study emphasizes the significance of tangible assets and sales growth dynamics in financial decision-making for achieving an optimal capital structure. Findings reveal that ProTAPP significantly mediates the relationship between EPS, TATO, CR, and DER in Southeast Asian property and real estate firms. The impact of these independent variables on DER through ProTAPP varies by country, reflecting specific market dynamics and company strategies. These results offer valuable guidance for developing more effective financing strategies in the sector.

This research aims to examine the effect of the Debt to Equity Ratio (DER) on the stock value of PT. Ramayana Lestari Sentosa Tbk during the 2019-2023 period. Using quantitative analysis with dependent data obtained from the Indonesia Stock Exchange, the analysis shows that the company's DER was within a moderate range (35%-42%) throughout the study period. The results indicate a negative correlation between DER and stock prices; however, the effect is not significant when viewed partially. The decline in DER in 2023 reflects the company's efforts to strengthen its capital structure and reduce dependence on debt. These findings are expected to enhance investors' knowledge and support the company's operations in developing future financial and investment strategies.    

This research aims to analyze the sustainability strategy implemented by PT Aspirasi Hidup Indonesia Tbk in the face of evolving market trends and consumer preferences. The main issue raised is the importance of adaptation to market changes and increasing the company's commitment to social responsibility. The main problem studied is the reason why Kawan Lama Group has changed the name of ACE Indonesia to PT Aspirasi Hidup Indonesia Tbk (AHI) (ACES) which was agreed at the Extraordinary General Meeting of Shareholders (EGMS) on June 7, 2024. This study aims to analyze the effect of Debt to Equity Ratio (DER) on Return on Equity (ROE) at PT Aspirasi Hidup Indonesia Tbk for the period 2019-2023. This research method uses a quantitative approach with descriptive research type.  The data was analyzed using Statistical Product and Service Solution (SPSS) Version 25 software. The analysis method includes Normality Test, Autocorrelation Test, and t Test (Partial Test). The results of this study are expected to provide insight into the impact of corporate funding decisions on the resulting profitability. Debt To Equity Ratio partially has no effect and is insignificant to Return On Equity where the tcount < ttable value is 1.802 < 2.30600 and a significant value of 0.169.    

Abstract. This study aims to analyze the effect of ownership structure, profitability, and capital structure on firm value with audit opinion and Good Corporate Governance (GCG) as moderating variables. The object of this research is a food and beverage sub-sector company listed on the Indonesia Stock Exchange (IDX) during the 2018-2022 period, analyzed using the SmartPLS-based Structural Equation Modeling (SEM) method. The results showed that most of the independent variables did not have a significant effect on firm value. GCG is also not proven to moderate the relationship between these variables and firm value. However, ownership structure has a significant effect on audit opinion, while profitability and capital structure have no significant effect on firm value. This finding indicates the influence of external factors or other variables that have not been tested, so a more comprehensive approach is needed in future research.

Agroindustry plays a crucial role in the economy, particularly in supporting food security and creating business opportunities in rural areas. However, to remain competitive in an increasingly challenging market, a comprehensive evaluation of financial performance is essential. This study aims to analyze the financial performance of the Tahu Bulat Agroindustry in Buniasih Hamlet, Muktisari Village, Cipaku Subdistrict, Ciamis Regency, using the Du Pont System approach over the 2022–2024 period. The analysis focuses on five key indicators: Assets Turnover, Net Profit Margin, Return on Investment (ROI), Equity Multiplier, and Return on Equity (ROE). The results reveal an average Assets Turnover of 1.42 times, indicating effective asset utilization in generating sales. The average Net Profit Margin of 17.80% reflects the company’s ability to generate net profit from sales. The average ROI of 25.55% indicates efficient asset utilization. The Equity Multiplier has an average of 4.77 times, demonstrating the contribution of the capital structure to asset management. Meanwhile, the average ROE of 125.54% highlights high returns on equity, despite significant declines in the final year. The study concludes that the financial performance of the agroindustry is generally good, but declining indicators in the last year require strategies to improve efficiency and asset management. It is recommended that the company reevaluate its capital structure and enhance operational efficiency to ensure business sustainability.

Agro-industry is a strategic sector that supports rural economic growth and food security. Agro-industry, as a strategic sector, often faces challenges in financial management, which have an impact on business stability and sustainability. This research analyzes the financial performance of the Tahu Bulat Putra Mandiri Agroindustry in Ciamis Regency based on liquidity, solvency and profitability ratios. Financial report data for the last three years (2022-2024) was analyzed using the case study method by calculating financial ratios, such as current ratio, quick ratio, debt to asset ratio, debt to equity ratio, return on assets (ROA), and return on equity (ROE). The results show fluctuations in financial performance, where the liquidity ratio is good enough to meet short-term obligations, but solvency reflects high financial risk due to dependence on debt, while profitability experiences a decrease in efficiency in generating profits. This research recommends improving capital structure, increasing operational efficiency, and business diversification to ensure the company's financial sustainability and stability.

This study aims to analyze the effect of company characteristics, audit opinion, capital structure, and ownership structure on company performance with Good Corporate Governance (GCG) as a moderating variable in the textile and garment industry listed on the Indonesia Stock Exchange (IDX) for the period 2018-2022. The results showed that company characteristics have a significant effect on audit opinion, ownership structure, and capital structure, but have no effect on company performance. Audit opinion, capital structure, and ownership structure also have no significant effect on company performance. In addition, GCG cannot moderate the relationship between these variables and company performance. This study emphasizes the importance of internal corporate management and evaluation of GCG implementation to improve the competitiveness of companies in facing global challenges.

The purpose of this study is to analyze the influence of capital structure and liquidity on profitability at PT Matahari Department Store Tbk during the 2019-2023 period. A qualitative approach is used in this study. The data used is secondary data in the form of the company's annual financial statements. According to the results of the T test, it shows that the capital structure has a significant influence on profitability of 0.013 (α < 0.05) while liquidity has no significant effect of 0.5944 (α > 0.05). These findings confirm the importance of optimal capital structure management in encouraging company profitability. On the contrary, high liquidity has not been used productively to increase profits. This study recommends an in-depth evaluation of capital and liquidity management strategies to achieve better financial performance.

Company value can show how it performs in running the business. Company size, profitability, age and capital structure can have an effect on company value as proxied by PBV. This study was carried out in order to find out how company size, profitability, age and capital structure affect the value of Food and Baverage companies listed on the IDX during the 2019-2023 period. This study consists of the dependent variable company value, while the independent variables are company size, profitability, age and capital structure. The population used was 32 food and load businesses that were members of the BEI from 2019 to 2023. In this research, data was collected using a purposive sampling method. In this study sample, the research consisted of eleven companies with a total of fifty-five observations. The samples that have been collected are analyzed and processed using multiple linear regression tests. This study has findings that company size and age have an insignificant negative impact on company value, conversely the profitability variable has an insignificant impact on company value and capital structure has a positive impact on company value. 

This study investigates the role of profit-based tangible assets and sales growth (ProTAPP) in enhancing the relationship between market ratios and financing decisions in property and real estate companies across Southeast Asia from 2019-2023. Using agency theory, pecking order theory, and trade-off theory, the research examines how EPS, TATO, and CR influence DER, with ProTAPP serving as a mediating variable. The analysis, based on panel data from ASEAN countries including Indonesia, Malaysia, Thailand, and Singapore, aims to provide practical insights for investors, corporate managers, and policymakers in optimizing financing strategies within the property and real estate sector. The study emphasizes the significance of tangible assets and sales growth dynamics in financial decision-making for achieving an optimal capital structure. Findings reveal that ProTAPP significantly mediates the relationship between EPS, TATO, CR, and DER in Southeast Asian property and real estate firms. The impact of these independent variables on DER through ProTAPP varies by country, reflecting specific market dynamics and company strategies. These results offer valuable guidance for developing more effective financing strategies in the sector.      

Because interest-bearing deposits are not allowed by Islamic Sharia rules and principles, Islamic banks generally collect deposits in the form of profit-sharing investment accounts. These accounts differ from conventional deposits not only because of the profit-sharing nature of the returns they offer but also because the relationship between the customer and the bank is not a debt contract, so these deposits are not considered 'fixed capital.' (artinya, nasabah dapat menerima hasil negatif atau kerugian). This last characteristic poses serious regulatory issues in jurisdictions where bank deposits are legally required to have a definition of 'certain capital.' In general, the presence of such 'risk-bearing instruments' in the capital structure of Islamic banks complicates the assessment of their capital adequacy. Moreover, the fact that profit-sharing investment account holders are a type of equity investor without the governance rights held by creditors or shareholders poses a significant oversight problem. This article explains these issues in more detail and proposes a solution in the form of a structural distinction between Islamic banks in the narrow sense on one side, and entities managing profit-sharing investment accounts on the other.

This study aims to analyze the effect of asset management efficiency, Return on Equity (ROE), and capital structure on equity growth at PT. Ciputra Development Tbk. Equity growth is an important indicator in assessing a company's ability to increase shareholder value sustainably. This study uses a quantitative approach with a case study method at PT. Ciputra Development Tbk. The data used are secondary data in the form of the company's financial statements for the period 2012-2023. The independent variables include the efficiency of Total Asset Turnover, ROE, and Debt To Equity Ratio, while the dependent variable is equity growth. Data analysis was carried out using multiple linear regression to test the relationship between the independent variables and the dependent variables, Hypothesis Testing, t-test and F-test

This research compares the financial performance of insurance companies in Indonesia using the Du Pont method, identifies the determinants of differences in profitability and efficiency, and provides strategic recommendations. The methodology involves analyzing the 2023 audited financial statements of PT Asuransi Dayin Mitra Tbk and PT Asuransi Bintang Tbk as samples, applying the Du Pont method, financial ratios, and qualitative analysis. The results reveal a significant difference in profitability, with PT Asuransi Dayin Mitra Tbk excelling in net profit margin, asset turnover, and a conservative capital structure, while PT Asuransi Bintang Tbk outperforms in underwriting risk management, claims handling, and aggressive marketing strategies. Strategic recommendations include maintaining strengths, exploring revenue growth, enhancing cost efficiency, and adjusting capital structure. This research contributes to understanding the dynamics of financial performance in the Indonesian insurance industry. 

This study comprehensively investigates the empirical impact of capital structure, profitability, and asset growth on the value of companies in the retail sector on the Indonesia Stock Exchange during the post-pandemic economic recovery phase (2021–2024). Adopting a quantitative methodology with purposive sampling of 12 entities (N=48), parameters were estimated using multiple linear regression after passing a rigorous classical assumption test including normality, multicollinearity, and heteroscedasticity. By proxiesizing the capital structure through Debt to Equity Ratio (DER), profitability through Return on Assets (ROA), and total asset growth to Price to Book Value (PBV), this study reveals the phenomenon of  market undervaluation with an average PBV of 0.17. The results of statistical tests confirm that these financial determinants partially and simultaneously have a significant influence on shaping the firm value. These findings provide a theoretical contribution regarding the relevance of funding policy and operational efficiency as crucial signals for investors in a volatile market landscape. The practical implications emphasize the importance of optimizing financial structure and operational performance to strengthen market confidence during the global economic transition period.

The increasing need for buildings and land has the effect of increasing construction in the housing sector. However, it must be understood that a company is able to regulate the structure of its funds. The maximum fund structure has an effect on the size of the fund and its value. This lesson will explain each variable raised as a study topic. This learning takes a quantitative approach through purposive sampling. The analysis uses classical assumption testing, descriptive statistics, as well as hypotheses using multiple linear regression methods using SPSS 25.0. The total study sample was 110 samples. Personally shows that the scale has a good effect on the fund structure. LiquidityProfitability is bad for the structure of funds. Then, together with the independent variables, they have a significant effect on the structure of the funds.  

The purpose of this research is to analyze the correlation between capital structure, profitability, and stock market value, proxied by the price-to-book ratio. The capital structure variable is measured using DER, while profitability is measured using the ROA. In this study, the data used comes from the financial statements of property and real estate companies listed on the IDX during the period of 2020 to 2023. This study applies multiple linear regression analysis with the help of SPSS to process data obtained from 22 purposively selected companies over four years. The research concludes that capital structure and profitability are crucial factors that can influence stock prices. These results indicate that companies need to focus on improving profitability and maintaining healthy debt management to enhance their value in the eyes of investors. Additionally, investors should not rely solely on the PBV when evaluating investment prospects.

This study aims to test and analyze the effect of risk, company size and sales growth on capital structure in the food and beverage sector on the Indonesia Stock Exchange. The sample in this study was 5 companies that were selected using sample determination criteria. The analysis techniques used were classical assumption tests, hypothesis tests and coefficient of determination. The results showed business risk with a coefficient value of 0.136, company size 0.003, sales growth 0.704 and simultaneously had an effect with a coefficient value of 0.019.

"Capital Structure Analysis of the Financial Performance of Companies Listed on the Indonesian Stock Exchange for the 2018-2022 Period (Case Study of Pt Blue Bird Tbk)". under the guidance of Mrs. Dr. Milka Pasulu, SE., M.Si, and Fausiah, S.E., M.Si. This research aims to determine the effect of capital structure policy on the financial performance of PT Blue Bird Tbk. The research sample is the 31 December financial report regularly for 5 years in accordance with the research period required for the periods 2018, 2019, 2020, 2021 and 2022 (The financial report as of 31 December is a financial report that has been audited). The results of the analysis found that the company PT Blue Bird Tbk for the 2018 – 2022 period, where analysis of capital structure policies to measure financial performance obtained poor results. Regarding this, the values ​​obtained from DER, DAR, ROA and ROE measurements experience fluctuating percentages (rising and falling).

The infrastructure, utilities and transportation sectors play an important role in a country's economy. Profitability is a key indicator in assessing the performance of companies in this sector. However, achieving profitability is faced with various challenges, including large capital investments, high operating costs, strict government regulations, and changes in global economic conditions. This study uses a literature study method to analyze the factors that affect the profitability of companies in the infrastructure, utilities, and transportation sectors. The results of the analysis show that financial factors, operational efficiency, technology, regulations, and external conditions such as market demand and global energy prices play a significant role in determining the level of profitability. Companies that are able to manage their capital structure, utilize technology, and adapt to regulations and dynamic economic conditions have a great opportunity to improve their financial performance. This study provides in-depth insights into how companies can manage internal and external factors to achieve sustainable profitability.