Open AccessThe Effect of Debt to Equity Ratio, Earning Per Share and Company Size on Market Value of Equity With Intellectual Capital As Moderating Variable
Author(s) -
Senja Milanda,
Edyanus Herman Halim,
Enni Savitri
Publication year - 2022
Publication title -
indonesian journal of economics, social, and humanities
Language(s) - English
Resource type - Journals
eISSN - 2656-355X
pISSN - 2656-0267
DOI - 10.31258/ijesh.4.1.41-54
Subject(s) - equity capital markets , equity ratio , debt to equity ratio , business , equity value , book value , equity risk , return on equity , market value , equity (law) , gearing ratio , price–earnings ratio , monetary economics , earnings per share , earnings , debt , economics , finance , private equity , external debt , demography , debt levels and flows , sociology , stock exchange , political science , law , nonprobability sampling , population
The purpose of this study was to examine the effect of debt-to-equity ratio, earnings per share, and company size on market value of equity. In this study, intellectual capital was used as a moderating variable. The samples in this study are companies listed in manufacturing companies in 2017-2019 periods on the IDX. Data was processed using the method of moderated regression analysis (Rev Mou1). The results of this study found that debt to debt-to-equity ratio and company size affect the market value of equity meanwhile earning per share can’t affect the market value of equity. Intellectual capital can moderate the effect of debt-to-equity ratio and company size on market value of equity. Based on the results, intellectual capital cannot moderate the effect of earnings per share on market value of equity.