The Effect of Profitability, Audit Quality, and Firm Size on Firm Value in Mining Companies Listed on the Indonesia Stock Exchange, 2020–2024
DOI:
https://doi.org/10.65310/1h2ped03Keywords:
Audit Quality, Firm Size, Firm Value, Mining Companies, Profitability.Abstract
This study aims to analyze the effect of profitability, audit quality, and firm size on firm value in mining companies listed on the Indonesia Stock Exchange (IDX) during 2020–2024. Firm value reflects investors’ perceptions of corporate performance and future prospects, making the identification of its determinants particularly relevant in the capital-intensive mining sector. This study employs a quantitative approach using secondary data obtained from annual financial statements and corporate reports. Purposive sampling was applied, resulting in 31 companies and 155 firm-year observations. The data were analyzed using panel data regression with Stata, and the Random Effect Model (REM) was selected based on the Chow, Lagrange Multiplier, and Hausman tests. The results indicate that profitability has a positive and statistically significant effect on firm value, suggesting that stronger asset-based earnings performance is associated with higher PBV. Audit quality has a positive but statistically insignificant effect, indicating that the use of Big Four auditors does not significantly differentiate firm value within the observed sample. Firm size has a negative and statistically significant effect on firm value, showing that greater asset-based scale is associated with lower PBV. Simultaneously, profitability, audit quality, and firm size significantly affect firm value, with an overall R² of 0.2125, indicating that the model explains 21.25% of the variation in firm value.
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