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Masters Thesis | Management | Indonesia | Volume 12 Issue 7, July 2023

Capital Structures Mediating Role in Profitability, Liquidity, and Firm Value

G. M. Djoko Hanantijo ^[7] | Cytra Lestary Kinasih

Abstract: This study investigates the role of capital structure in mediating the impact of profitability and liquidity on firm value. Using a sample of 25 property and real estate companies from 2020-2022, the study finds that Return On Equity (ROE) and Current Ratio (CR) have no significant effect on Debt to Equity Ratio (DER). Furthermore, ROE and DER do not significantly affect Price to Book Value (PBV), while CR has a significant negative effect on PBV. The study concludes that DER cannot mediate the effect of ROE and CR on PBV.

Keywords: Debt to Equity Ratio, Return On Equity, Current Ratio, Price to Book Value

Edition: Volume 12 Issue 7, July 2023,

Pages: 1163 - 1166