PENGARUH ENTITAS BERELASI TERHADAP NILAI PERUSAHAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING: STUDI PADA PERUSAHAAN SEKTOR KESEHATAN YANG TERDAFTAR DI BEI

Abstract

The study aims to examine the effect of related party entities on firm value, with profitability as an intervening variable. Related party entities are measured through related party payables and receivables transactions. The research object consists of healthcare sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022-2024 period. Using purposive sampling, 21 companies were selected as the research sample. The collected data were analyzed using Partial Least Square – Structural Equation Modeling (PLS-SEM) with SmartPLS version 4.0 software. The result indicates that related party transactions, both upstream and downstream related entities, do not have a significant effect on profitability, while profitability has a positive and significant effect on firm value. Furthermore, related party transactions have a significant effect on firm value; however, profitability does not mediate the relationship between related party entities and firm value. The main findings of this study that both upstream and downstream related party entities transactions, along with profitability, directly function as a signals that influencing market reactions to firm value.