Pengaruh Struktur Modal Dan Growth Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi Pada FBM KLCI Yang Terdaftar Di Bursa Malaysia Periode 2019-2023

Abstract

This study aims to examine the influence of capital structure and growth on firm value, with dividend policy serving as a moderating variable, in companies listed on the FBM KLCI for the 2019–2023 period. The research was conducted using information obtained from Bursa Malaysia. This study employs a quantitative research design. The sampling technique used is purposive sampling. The study population consists of 37 FBM KLCI companies listed on Bursa Malaysia during the 2019–2023 period, from which 16 companies were selected as the restarch sample. The data used in this study are secondary data, and the analytical methods employed include panel data regression and Moderated Regression Analysis (MRA) using the EViews 13 statistical software. The findings indicate that capital structure has a positive and significant effect on firm value. Growth also has a positive and significant effect on firm value. Furthermore, dividend policy does not moderate the relationship between capital structure and firm value, nor does it moderate the relationship between growth and firm value.