THE IMPACT OF INTELLECTUAL CAPITAL AND CAPITAL STRUCTURE ON FIRM VALUE WITH GROWTH OPPORTUNITY AS MODERATING VARIABLE AT THE CONSUMER GOODS INDUSTRY LISTED IN INDONESIAN STOCK EXCHANGE

Abstract

The purpose of this study was to analyze the effect of intellectual capital and capital structure on company value with growth opportunity as a moderating variable on the consumer goods industry listed on the Indonesian stock exchange about 5 years in the 2016-2020 period. The data used is secondary data obtained from the official website, namely www.idx.co.id. The sampling technique used is purposive sampling with a total sample of 32 companies (160 observations). The data analysis method used is moderated regression analysis which is processed using panel data regression using Eviews 9.
The results showed that intellectual capital had a positive and significant effect on firm value, capital structure had a significant negative effect on firm value, while profitability and leverage had a significant positive effect on firm value, while firm size had a significant negative effect on firm value. For the effect of the moderating variable, it is found that growth opportunity can be a moderating between intellectual capital to firm value which has a significant positive effect, while for capital structure to firm value which is moderated by growth opportunity has a significant negative effect.