Published: 2026-04-01

Inflasi Memoderasi Hubungan Capital Intensity, Firm Growth dan Exchange Rate dengan Firm Value Pada Perusahaan Sektor Energi yang Terdaftar dalam Bursa Malaysia Tahun 2019-2023

DOI: 10.35870/jemsi.v12i2.5427

Vicky Haeru Putera, Holiawati Holiawati, Zulfitra Zulfitra
  • Vicky Haeru Putera: Universitas Pamulang
  • Holiawati Holiawati: Universitas Pamulang
  • Zulfitra Zulfitra: Universitas Pamulang
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Abstract

The purpose of this study is to examine and empirically demonstrate how inflation moderates the link between firm value, exchange rate, capital intensity, and company growth. This study employs an associative quantitative research design. The secondary data utilized was gathered from the www.bursamalaysia.com website. Companies in the energy sector that are listed on Bursa Malaysia between 2019 and 2023 make up the study's population. Purposive sampling using preset criteria was employed to carry out the sampling procedure, yielding 140 observations in total. Moderated regression analysis (MRA), and multiple linear regression techniques were used to test the data, hypothesis test (statistical t-test and coefficient of determination test) using the Eviews 12 program. The study's findings show that while business expansion and exchange rates have little bearing on firm value, capital intensity does. Capital intensity, firm growth, and the exchange rate with firm value cannot be moderated by inflation.

Keywords

Capital Intensity; Exchange Rate; Firm Growth; Firm Value; Inflation

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Putera, V. H., Holiawati, H., & Zulfitra, Z. (2026). Inflasi Memoderasi Hubungan Capital Intensity, Firm Growth dan Exchange Rate dengan Firm Value Pada Perusahaan Sektor Energi yang Terdaftar dalam Bursa Malaysia Tahun 2019-2023. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 12(2), 1094-1111. https://doi.org/10.35870/jemsi.v12i2.5427
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This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 12 No. 2 (2026)

  • Section: Articles

  • Published: 2026-04-01

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Author Biographies
Vicky Haeru Putera, Universitas Pamulang
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Program Studi Magister Manajemen, Universitas Pamulang, Tangerang Selatan, Indonesia.

Holiawati Holiawati, Universitas Pamulang
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Program Studi Magister Manajemen, Universitas Pamulang, Tangerang Selatan, Indonesia.

Zulfitra Zulfitra, Universitas Pamulang
Google Scholar ResearchGate ORCID

Program Studi Magister Manajemen, Universitas Pamulang, Tangerang Selatan, Indonesia.

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