Vol 9, No 1 (2021): EQUILIBRIUM

The Determinants of Firm Value and Financial Performance in Islamic Stocks

Arribaat, Salma Khoirunnisaa (Unknown)
Yahya, Imam (Unknown)
Agriyanto, Ratno (Unknown)

Article Info

Publish Date
04 Jun 2021


One of the company's long-term goals is to maximize the firm value. It is the present value of the company, which can be a prospect in the future. Therefore, the problem in this study is the factors that affect the company's value in the Jakarta Islamic Index for 2015-2019. This study analyzes the influence of Intellectual Capital, Good Corporate Governance, and Debt to Equity Ratio on Firm Value directly and indirectly through Financial Performance. The data used in this study is panel data using purposive sampling, and there are 17 stocks listed on the Jakarta Islamic Index for 2015-2019 period. The analysis technique of this research is Partial Least Square. The test results of the direct effect show that Intellectual Capital, Debt to Equity Ratio, and Financial Performance have a significant impact on Firm Value on the Jakarta Islamic Index. Corporate governance has a substantial effect on Financial Performance. Meanwhile, indirect testing proves that the Financial Performance variable can only mediate the impact of Corporate Governance on Firm Value. However, it cannot mediate between the relationship between the variable intellectual capital and debt ratio to equity.

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Journal Info




Economics, Econometrics & Finance


Equilibrium journal issued by the Department of Islamic Economics, Pascasarjana, STAIN Kudus, periodically (every 6 months) in June and December with the aim of disseminating information about the study of knowledge islamic economics in the form of conceptual studies and research ...