The Moderating Effect of Company Value on the Dominant Factors of Corporate Debt Policy

Rochanda Wiradinata, Arie Indra Gunawan, Roatinah, Nurul Senja Wiraning Fury, Budi Supriatono Purnomo, Imas Purnamasari


This article explains the company’s debt policy influenced by ROA, company size, and growth moderated by company value. Based on the literature and research results, this variable is generally interrelated and influences the debt policy decisions. However, given the current circumstances brought on by the COVID influence and the worldwide recession, this condition can be revisited, particularly in mining businesses. This research was conducted using secondary data, which was then analyzed by multiple linear regression methods, descriptive statistical tests, and classic assumption tests. The results showed that only the company’s growth and value could influence the company’s debt policy. Research also did not find the effect of moderation on company value. The results of this study complement factual and theoretical evidence that policymakers can use to consider debt policy in global crisis conditions.


Keywords: debt policy, profitability, company size, company growth, company value.




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