Investment Opportunity Set Analysis as a Mediation of Influence of Capital Structure on Company Value with Economic Growth as a Moderating Variable

DOI

10.2991/aebmr.k.210717.014How to use a DOI?

Keywords

investment opportunity set, capital structure, firm value and economic growth

Abstract

This study aims to examine and analyze (1) the indirect effect of capital structure on firm value through the investment opportunity set mediation, (2) the direct effect of capital structure on firm value which is moderated by economic growth. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange (IDX) with data from 2015 to 2018. The data was collected using purposive sampling technique and the population was based on population criteria. The research sample companies are saturated or census samples and the number of research samples is 15 companies. The data analysis method is Path Analysis and Sobel Test which are used to test the investment opportunity set mediation variable. The results showed that the effect of capital structure on firm value was mediated significantly by IOS. Meanwhile, economic growth significantly moderates the effect of capital structure on firm value.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yusna
AU  - Sugeng Sulistiono
PY  - 2021
DA  - 2021/07/19
TI  - Investment Opportunity Set Analysis as a Mediation of Influence of Capital Structure on Company Value with Economic Growth as a Moderating Variable
BT  - Proceedings of 2nd Annual Management, Business and Economic Conference (AMBEC 2020)
PB  - Atlantis Press
SP  - 65
EP  - 69
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210717.014
DO  - 10.2991/aebmr.k.210717.014
ID  - 2021
ER  -