PENGARUH PERTUMBUHAN PERUSAHAAN DAN RISIKO SISTEMATIS TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN SUBSEKTOR TELEKOMUNIKASI YANG TERDAFTAR DI BEI PERIODE 2021-2024

Abstract

This study aims to analyze the influence of company growth and systematic risk on company value, with profitability as a mediating variable, in telecommunications companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. This study was conducted using a quantitative approach, with data analysis performed via the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method. The research utilized secondary data, and the sample was selected through a purposive sampling technique, which yielded a final sample of 16 companies. The results show that when a company grows, it tends to make more profit, but just growing alone doesn't directly make the company more valuable. Systematic risk significantly influences firm value, but does not significantly influence profitability. Furthermore, profitability significantly influences firm value and acts as a mediator in the relationship between company growth and firm value. However, profitability does not mediate the relationship between systematic risk and company value. These findings indicate that profitability serves as a crucial internal mechanism in mediating the relationship between growth and risk on campany value, highlighting the importance of strengthening operational performance to maintain firm value amid market fluctuations.