Examining profitability as a mediating factor in the relationship between capital structure, liquidity, and sales growth on firm value

Maulani, Novita Ramadhanfi, Fitriyah, Fitriyah ORCID: https://orcid.org/0009-0000-9402-9370 and Prajawati, Maretha Ika ORCID: https://orcid.org/0000-0002-3084-4031 (2025) Examining profitability as a mediating factor in the relationship between capital structure, liquidity, and sales growth on firm value. Jurnal Ekonomi, Bisnis & Entrepreneurship (e-Journal), 19 (1). pp. 26-41. ISSN 24432121

Text 24865.pdf - Published Version Available under License Creative Commons Attribution Share Alike. Download (414kB)

Abstract

The objective of this study is to analyze and assess the role of profitability as an intervening variable in the connection between capital structure, liquidity, and sales growth on the firm value. This research uses a purposive sampling methodology to choose a sample of 13 companies within the healthcare sector. The analysis is executed through path analysis employing the EViews version 12 application. Research findings, shows that capital structure does not influence profitability, while liquidity and sales growth indeed influence profitability. Capital structure, liquidity, and sales growth do not affect firm value, but profitability does. Additionally, profitability does not serve as an intermediary in the connection between capital structure, liquidity, and sales growth in affecting firm value. This research provides a theoretical contribution by examining how profitability acts as an intermediary variable within the framework of the connection between capital structure, liquidity, and the role of salesgrowth in affecting the firm value in the healthcare sector during the period 2020-2023. This provides a new understanding of the specific internal financial mechanisms in the healthcare sector, especially in pandemic-affected conditions, which have not been studied in depth in the financial literature.

Item Type:	Journal Article
Keywords:	Profitability; Capital Structure; Liquidity; Sales Growth; Firm Value
Subjects:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150201 Finance
Divisions:	Faculty of Economics > Department of Management
Depositing User:	Fitriyah Fitriyah
Date Deposited:	21 Nov 2025 19:41

Downloads

Origin of downloads

Actions (login required)

View Item