Financial Factors Affecting Fixed Asset Revaluation with Liquidity as a Moderating Variable

Aprilia Kurnia Saputri; Kholilah Kholilah

doi:10.24843/EJA.2025.v35.i12.p20

Authors

Aprilia Kurnia Saputri Faculty of Economics and Business, Universitas Islam Negeri Maulana Malik Ibrahim Malang, Indonesia
Kholilah Kholilah Faculty of Economics and Business, Universitas Islam Negeri Maulana Malik Ibrahim Malang, Indonesia

DOI:

https://doi.org/10.24843/EJA.2025.v35.i12.p20

Keywords:

Fixed Asset Intensity, Firm Size, Leverage, Market to Book Ratio, Liquidity, Fixed Asset Revaluation

Abstract

This study aims to examine financial factors on fixed asset revaluation decisions, with liquidity as a moderating variable. Implementing secondary data from 122 BEI studies from 2020–2023, 488 observations were analyzed using logistic regression. The results indicate both positive and negative impacts. Leverage does not show a significant effect. Furthermore, liquidity strengthens the influence of fixed asset intensity and the market-to-book ratio, but does not moderate firm size or leverage. These findings demonstrate two theories: signaling and positive accounting, and confirm that financial characteristics and liquidity play a significant role in revaluation decisions.

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