The Effect of Capital Intensity, Firm Size, and Institutional Ownership Structure on the Company Value

Abstract

This study aims to analyze the influence of capital intensity, firm size, and institutional ownership structure on the value of companies in the food and beverage subsector manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2022-2024. Variable capital intensity is measured using the capital intensity ratio, firm size is measured using the natural logarithm of total assets, ownership structure is measured by institutional ownership, and the value of the company is measured by the ratio of Tobin's Q. This study uses quantitative methods with secondary data obtained from the annual report and financial statements of food and beverage subsector companies. The research sample was selected using purposive sampling technique which was then obtained 62 sample companies, observation period for three years so that observation data was obtained amounting to 186 data. Data analysis was done by multiple linear regression analysis using SPSS application. The results showed that the first variable capital intensity has no effect on the value of the company with the direction of the relationship that tends to be negative, while the results of the second variable research firm size has no effect on the value of the company with a positive direction of the relationship, and the results of the third variable research institutional ownership structure has an effect on the value of the company with the direction of the relationship that tends to be negative