The Influence of Managerial Ownership and Profitability on Firm Value: The Mediating Role of Earnings Management
Published:
2026-11-14Downloads
Abstract
This study aims to analyze the effect of managerial ownership and profitability on firm value, with earnings management as an intervening variable, in banking subsector companies listed on the Indonesia Stock Exchange during 2021–2024. A quantitative approach was employed using purposive sampling, resulting in 64 observations from 16 banking companies. Secondary data were obtained from the companies' annual financial statements. Managerial ownership was measured by the proportion of shares held by management, profitability was proxied by Return on Assets (ROA), firm value was measured using Price to Book Value (PBV), and earnings management was proxied by discretionary accruals using the Modified Jones Model. The data were analyzed using path analysis with the assistance of SPSS version 26. The results indicate that managerial ownership and profitability have negative effects on firm value but positive effects on earnings management. Earnings management has a positive effect on firm value. In addition, earnings management mediates the relationship of managerial ownership and profitability with firm value through positive indirect effects. These findings highlight the importance of considering earnings management practices when examining the relationship between firm characteristics and firm value in the banking sector.
Keywords:
Profitability Managerial Ownership Firm Value Earnings Management BankingReferences
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Copyright (c) 2026 Anissa Dwi Wahyuningtyas , Nur Fadjrih Asyik
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