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This study aims to determine the effect of liquidity, asset structure, and capital structure on firm value with profitability and good corporate governance (GCG) as intervening variables in non-cyclical consumer companies listed on the Indonesia Stock Exchange (IDX). The data collection technique used in this study is annual report documentation for 6 years starting from 2015- 2021 from Personal Care Product companies listed on the IDX, with a total sample of 5 companies selected through purposive sampling. The collected data were analyzed using Partial Least Squares (PLS) analysis, and the findings were interpreted using a path analysis approach. In conclusion, liquidity and asset structure have a negative relationship with profitability and firm value but have a positive relationship with GCG. On the other hand, capital structure has a negative relationship with profitability and GCG but has a positive relationship with firm value. Profitability has a positive relationship with firm value, while GCG has a negative relationship. Profitability and GCG have a negative relationship as intervening variables in the effect of liquidity and asset structure on firm value but have a positive relationship as intervening variables in the effect of capital structure on firm value. |
