The Determinant Energy Firms Value through Coal Prices, Capital Structure, Sales Growth, and Profitability-Case Study of Coal Company
Mohammad Yasin and Asep Risman

Universitas Mercu Buana

Abstract

This research aims to find empirical evidence of the influence of reference coal prices, capital structure, and sales growth on a firm^s value, mediated by profitability. The study employs a quantitative causal method using a path analysis model. The population consists of all coal companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022, totaling 18 companies, and the data is processed using Eviews. Our findings indicate that reference coal prices and sales growth do not significantly affect a firm^s value, while capital structure and profitability have a significant positive impact. Reference coal prices, capital structure, and sales growth significantly and positively affect profitability. Profitability mediates the influence of reference coal prices and capital structure on a firm^s value- however, it does not mediate the effect of sales growth on a firm^s value.

Keywords: Firm^s Value, Coal Company, Coal Prices, Capital Structure, Sales Growth, ProfitabilityPlease Just Try to Submit This Sample Abstract

Topic: Financial Modeling for Energy Investment Analysis