Analysis of Liquidity, Profitability and Company Size Ratios to Coal Company Value on the Indonesia Stock Exchange 2017-2022 with Capital Structure as an Intervening Factor

The paper aims to investigate the role of
liquidity Ratio, Profitability, and Company Size on Coal
Company Value by using Capital Structure as an
intervening factor during the 2017-2022 period. The
population of this study are coal mining sub-sector
companies listed on the Indonesia Stock Exchange during
the 2017-2022 period. A total of 8 national coal companies
were selected based on criteria using a purposive sample
technique. The findings indicated that Size, Profitability,
and Liquidity all had a detrimental impact on Capital
Structure. The second finding is that Profitability and
Capital Structure have a favourable impact on firm value
whereas Liquidity and Size have a negative impact. In the
coal sub-sector companies listed on the IDX in 2017–2022,
the factors of liquidity, profitability, and size have an
overall influence on company value through capital
structure as an intervening variable.