The Impact of Research and Development on Corporate Market Value with Profit Growth as Intervening Variable

Every establishment of a corporate has clear objectives, one of which is to maximize the wealth or value of the corporate because in the concept of the theory of the firm the higher the value of the corporate describes the higher the wealth of the owner. Signaling theory has the concept that the existence of information released by the corporate on all decisions will show the market how management views prospects. This research aims to determine the relationship between research and development (R&D) costs on the corporate's market value with profit growth as an intervening variable. The research was carried out by quantitative methods at manufacturing companies listed on the IDX in the 2015- 2019 observation year. The results of this research are research and development (R&D) costs have a positive and significant effect on the corporate's market value, research and development costs have a positive and significant effect on profit growth, profit growth has a positive and significant effect on the corporate's market value, research and development costs have a positive and significant effect on the corporate's market value through profit growth as an intervening variable