Determinants of Firm Value: The Role of Capital Intensity and Leverage
DOI:
https://doi.org/10.59890/ijsas.v4i3.386Keywords:
Capital Intensity, Leverage, Firm Value, SizeAbstract
The energy sector faces increasing pressure due to the global energy transition, economic uncertainty, and the high demand for long-term investment. These conditions encourage companies to increase investment in fixed assets and utilize debt-based financing to maintain business sustainability. However, poorly managed investment and financing decisions may increase financial risk and reduce firm value. This study aims to analyze the effect of capital intensity and leverage on firm value in energy sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This research employs a quantitative approach with a sample of 42 companies selected from the population of energy sector firms listed on the exchange. The data used are secondary data obtained from annual financial reports, which are analyzed using descriptive statistics and panel data regression with the assistance of EViews software. The results show that capital intensity and leverage have a positive and significant effect on firm value in energy sector companies
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