![](bg7.png)
that have high profitability will also have high share
prices and this will increase the value of the company.
The hedging decision variable has a positive but
not significant impact on the firm value. So that any
changes that occur to the company's hedging
decisions do not significantly affect the company's
value.
The value of the firm is not significantly affected
by the managerial ownership variable. So that any
changes in managerial ownership do not significantly
affect the company's value.
Based on the probability value of the F-statistic in
this study, it shows that all independent variables,
namely capital structure, profitability, hedging
decisions and managerial ownership, simultaneously
have a significant effect on firm value. Based on the
results of the calculations, it can be concluded that all
independent variables have a simultaneous effect on
the firm value.
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