THE EFFECT OF DEBT POLICY AND COMPANY SIZE ON COMPANY VALUE WITH PROFITABILITY AS AN INTERVENING VARIABLE IN MANUFACTURING COMPANIES IN THE FOOD AND BEVERAGE SUB-SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE IN THE 2020-2025 PERIOD
Keywords:
Debt Policy, Firm Size, Profitability, and Firm ValueAbstract
The objective of this study is to examine and analyze the influence of debt policy , firm size , and profitability on firm value ; to analyze and determine the influence of debt policy and firm size on profitability ; to examine and analyze the influence of debt policy on firm value mediated by profitability ; and to examine and analyze the influence of firm size on firm value mediated by profitability within food and beverage sub- sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2025. The population consists of 24 food and beverage companies listed on the IDX; the study sample comprises 8 companies observed over a 6-year period , resulting in a total of 48 data points . Data collection was conducted using documentation techniques , and analysis was performed using the SmartPLS application . The research results indicate a significant influence of debt policy on firm value , firm size on firm value , profitability on firm value , debt policy on profitability , and firm size on profitability . Furthermore , significant influences were found regarding the impact of debt policy on firm value mediated by profitability and the impact of firm size on firm value mediated by profitability among food and beverage sub- sector manufacturing companies listed on the Indonesian Stock Exchange for the 2020–2025 period .
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