Proceedings of the 8th International Research Conference on Economic and Business (IRCEB 2024)

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Profitability and Firm Value of Manufacturing Companies: Internationalization Moderations

Authors
R. Salsabila Nisaa Azzukhruf1, Yuli Soesetio1, *
1Universitas Negeri Malang, Malang, East Java, Indonesia
*Corresponding author. Email: yuli.soesetio.fe@um.ac.id
Corresponding Author
Yuli Soesetio
Available Online 21 May 2025.
DOI
10.2991/978-94-6463-722-9_4How to use a DOI?
Keywords
Profitability; Firm Value; Internationalization
Abstract

The purpose of the following study is to propose and test whether internationalization moderates the profitability-firm value relationship based on a sample of 110 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2009 to 2020. This study uses sub-group moderation analysis, moderated regression analysis, and pure moderation approaches in testing the effects of profitability, leverage, asset growth, and dividend payout ratio on firm value. The findings suggest that profitability and leverage predict firm value inversely while asset growth, and dividend payout positively affect it. In addition, the results imply that internationalization magnifies the negative effect of profitability on firm value. The findings of this study provide important contributions to understanding the intricacies between profitability, internationalization, and firm value with implications for manufacturing managers and investors.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 8th International Research Conference on Economic and Business (IRCEB 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
21 May 2025
ISBN
978-94-6463-722-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-722-9_4How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - R. Salsabila Nisaa Azzukhruf
AU  - Yuli Soesetio
PY  - 2025
DA  - 2025/05/21
TI  - Profitability and Firm Value of Manufacturing Companies: Internationalization Moderations
BT  - Proceedings of the  8th International Research Conference on Economic and Business (IRCEB 2024)
PB  - Atlantis Press
SP  - 26
EP  - 35
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-722-9_4
DO  - 10.2991/978-94-6463-722-9_4
ID  - Azzukhruf2025
ER  -