scholarly journals Analisis Pengaruh Investment Opportunity Set, Kebijakan Hutang, Profitabilitas dan Kepemilikan Manajerial Terhadap Kebijakan Dividen dan Nilai Perusahaan (Studi Pada Perusahaan yang Terdaftar Dalam Indeks Papan Utama BEI Tahun 2009 – 2016)

2019 ◽  
Vol 28 (1) ◽  
pp. 29-44
Author(s):  
Yuliastanti Nugrahandini ◽  
Irene Rini Demi Pangestuti ◽  
Soegiono Soegiono
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Investment Opportunity ◽  
Tobin's Q ◽  
Investment Opportunity Set ◽  
Negative Effect

To obtain maximum returns, prospective investors must have knowledge of the fundamental aspects to be able to place their investments appropriately in the issuer's companies in the capital market. This study aims to examine whether the investment opportunity set, debt policy, profitability and managerial ownership influence the firm value by using dividend policy as an intervening variable. The sample used in this study consisted of 20 companies listed on the Main Board of IDX in the period from 2009-2016. The analysis technique used is Partial Least Square Structural Equation Modeling (PLS-SEM). The results of the study show that IOS has a negative effect on DPR and ROA has a positive effect on the DPR. While other variables did not significantly influence the DPR. The influence of IOS, ROA, and manajerial ownership significantly positive on Tobin's Q while DAR, Size and DPR had a significantly negative effect on Tobin's Q. Based on the VAF test, the DPR mediated IOS by 17.17% and mediated ROA by -4.46% or less than 20 % so that it can be concluded that there is almost no mediating role of the DPR on the relationship of IOS and ROA to the firm value.

scholarly journals Bagaimana Good Corporate Governance (GCG) dalam Keberlanjutan Perusahaan?

2020 ◽  
Vol 3 (2) ◽  
pp. 225
Author(s):  
K. Kurniyati ◽  
K. Khairiyani
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Stock Price ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Good Corporate Governance

<p>This research aimed to examine the effect of Good Corporate Governance (GCG) on firm value. Good Corporate Governance (GCG) was measured by the Corporate Governance Perception Index (CGPI). CGPI was assessed by the Indonesian Institute of Corporate Governance (IICG), an independent institute that was conducting the development of Good Corporate Governance in Indonesia. The firm value was reflected by the stock price, PBV (Price to Book Value), and Tobin’s Q. This study used ten firms as a sample consistently listed in the Indonesian Stock Exchange and followed the CGPI program during 2014-2019. The sample was determined by using purposive sampling. Analysis of data in this study used Structural Equation Modeling-Partial Least Square (SEM-PLS) with SmartPLS 3rd version. The result showed that CGPI reflected Good Corporate Governance affected firm value (stock price, PBV, and Tobin’s Q).</p>

scholarly journals Peran Kebijakan Dividen Dalam Memediasi Profitabilitas dan Kebijakan Pendanaan Terhadap Nilai Perusahaan

2021 ◽  
Vol 10 (2) ◽  
pp. 161-172
Author(s):  
Desire Nur Addin Afeeanti ◽  
Indah Yuliana
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Dividend Policy ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Public Companies ◽  
Independent Variables ◽  
Negative Effect

This study examines the role of dividend policy in mediating profitability and leverage on firm value. The method used in this research is Structural Equation Modeling-Partial Least Square (SEM-PLS) to test the relationship between variables. This study uses data on annual report of go-public companies in 2014-2018 period. ROE and ROA are independent variables (X1), DER and DAR are independent variables (X2). While PER and PBV are the dependent variables and DPR and DY are intervening variables. This study resulted in profitability and leverage has positive and significant effect, but the dividend policy negative and no significant effect on firm value. Profitability has positive and significant effect, but leverage has a significant negative effect on dividend policy. Dividend policy has not been able to mediate between profitability and leverage on firm value.

KINERJA LINGKUNGAN TERHADAP KINERJA KEUANGAN SERTA IMPLIKASINYA TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 3 (1) ◽  
pp. 41
Author(s):  
Khairiyani Khairiyani ◽  
Novi Mubyarto ◽  
Agustina Mutia ◽  
Anzu Elvia Zahara ◽  
G.W.I. Awal Habibah
Keyword(s):  
Structural Equation Modeling ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Purposive Sampling

Penelitian ini bertujuan untuk menguji pengaruh kinerja lingkungan terhadap kinerja keuangan serta implikasinya terhadap nilai perusahaan. Kinerja lingkungan diproksikan oleh PROPER yang dinilai oleh Kementerian Lingkungan dalam melakukan pengembangan kinerja lingkungan di Indonesia. Kinerja keuangan direfleksikan oleh ROA dan ROE. Nilai perusahaan direfleksikan oleh harga saham, PBV dan Tobin’s Q. Penelitian ini menggunakan 12 perusahaan sampel yang listing di BEI dan mengikuti program PROPER selama 2015-2017. Sampel ditentukan dengan purposive sampling. Metode analisis data yang digunakan adalah Structural Equation Modeling-Partial Least Square (SEM-PLS) dengan Smart-PLS versi 3. Hasil menunjukkan bahwa kinerja lingkungan yang direfleksikan oleh PROPER berpengaruh terhadap kinerja keuangan yang direfleksikan oleh ROA dan ROE. Kinerja lingkungan (PROPER) berpengaruh terhadap nilai perusahaan yang direfleksikan oleh PBV dan Tobin’s Q. Kinerja keuangan (ROA dan ROE) berpengaruh terhadap nilai perusahaan (PBV dan Tobin’s Q). Hal ini mengindikasikan bahwa kinerja keuangan mampu memediasi pengaruh kinerja lingkungan terhadap nilai perusahaan pertambangan yang mengikuti program PROPER selama tahun 2015-2017.

scholarly journals MEDIATION OF PROFITABILITY ON CORPORATE SOCIAL RESPONSIBILITY TO FIRM VALUE

2021 ◽  
Vol 13 (2) ◽  
pp. 51-58
Author(s):  
Siti Nurul Faizah ◽  
Dharma Tintri Ediraras
Keyword(s):  
Economic Performance ◽  
Environmental Performance ◽  
Firm Value ◽  
Agricultural Sector ◽  
Social Performance ◽  
Partial Least Square ◽  
Least Square ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Return On Equity

The study aims to test and analyze the influence of CSR as measured by Economic Performance, Environmental Performance, and Social Performance on Firm Value measured using Tobin’s Q with profitability as a mediation variable. The object of this research is the information communication sector, health sector, agricultural sector, electricity sector, and real estate sector, and they were analyzed with statistical methods used is Partial Least Square (PLS). The results of this study showed that Economic Performance, Environmental Performance, and Social Performance had no effect on Return on Equity (ROE) and Tobin’s Q, while Return on Equity (ROE) had an effect on Tobin’s Q either.

scholarly journals Keputusan Investasi, Leverage, Profitabilitas, dan Ukuran Perusahaan Sebagai Faktor Penentu Nilai Perusahaan Manufaktur

2020 ◽  
Vol 19 (1) ◽  
pp. 10-23
Author(s):  
I Made Purba Astakoni ◽  
I Wayan Wardita
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Hypothesis Test ◽  
Investment Decisions ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Test Results ◽  
Significant Positive Effect ◽  
Positive Effect

Abstract-The purpose of this study is 1) to find out and analyze the effect of investment decisions on firm value, 2) to find out and analyze the effect of leverage on firm value, 3) to find out and analyze the effect of profitability on firm value; 4) to find out and analyze the effect of company size on company value. The population in this study are cosmetics and household use manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2011-2018. Sampling was done purposively with predetermined criteria. The data analysis of this study uses the Partial Least Square (PLS) approach. PLS is a Structural Equation Modeling (SEM) equation model based on components or variants. Based on the hypothesis test, the first hypothesis is obtained; which states that investment decision variables have a significant positive effect on firm value is acceptable. Second hypothesis test results; which states that leverage has a significant positive effect on firm value is acceptable. Third hypothesis test results; which states profitability has a significant positive effect on firm value is acceptable. The fourth hypothesis test results; which states that company size has a significant positive effect on the value of the company can not be accepted (rejected). The result of the model accuracy test by looking at R Square Adjusted which contributed the model in explaining the structural relationship of the studied variables was 0.604 (or 60.40%). Keywords: Investment Decisions; Leverage; Profitability; Firm Size and Firm Value. Abstrak-Tujuan dari studi ini adalah 1) untuk mengetahui dan menganalisis pengaruh keputusan investasi terhadap nilai perusahaan,2) untuk mengetahui dan menganalisis pengaruh leverage terhadap nilai perusahaan, 3) untuk mengetahui dan menganalisis pengaruh profitabilitas terhadap nilai perusahaan; 4) untuk mengetahui dan menganalisis pengaruh ukuran perusahaan terhadap nilai perusahaan. Populasi dalam studi ini adalah perusahaan manufaktur sektor kosmetik dan keperluan rumah tangga yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2018. Pengambilan sampel dilakukan secara purposive dengan kriteria yang telah ditetapkan sebelumnya. Analisis data studi ini menggunakan pendekatan Partial Least Square (PLS). PLS adalah model persamaan Structural Equation Modeling (SEM) yang berbasis komponen atau varian. Berdasarkan uji hipotesis yang dilakukan didapat hipotesis pertama ; yang menyatakan variabel keputusan investasi berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis kedua ; yang menyatakan leverage berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis ketiga ; yang menyatakan profitabilitas berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis keempat ; yang menyatakan ukuran perusahaan berpengaruh signifikan positif terhadap nilai perusahaan tidak dapat diterima (ditolak). Hasil uji ketepatan model dengan melihat R Square Adjusted yang memberi kontribusi model dalam menjelaskan hubungan struktural variabel yang diteliti adalah sebesar 0,604 (atau 60,40%). Kata kunci: Keputusan Investasi; Leverage; Profitabilitas; Ukuran perusahaan dan Nilai perusahaan

scholarly journals PENGARUH INVESTMENT OPPORTUNITY SET DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DIMEDIASI OLEH HARGA SAHAM SEKTOR PERKEBUNAN

2020 ◽  
Vol 16 (1) ◽  
pp. 26
Author(s):  
Adi Hasan Ragil Saputra
Keyword(s):  
Stock Prices ◽  
Firm Value ◽  
Structural Equation ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Equation Modeling ◽  
Investment Opportunity ◽  
Investment Opportunity Set ◽  
The Government ◽  
Positive Effect

The purpose of this study is to examine the effect of investment opportunity set (IOS), profitability on firm value is intervening by stock prices. This study used 14 plantation sector companies listed on the Indonesia Stock Exchange during 2013-2017 with a sampling technique that was purposive sampling using structural equation modeling (SEM) analysis. The results showed that IOS had no affect stock prices. Profitability has a positive effect on stock prices. IOS has a positive effect on company value. Profitability had no effect the value of the company. Stock prices have a positive effect on firm value. IOS had no effect the value of the company intervening by stock prices. Profitability has a positive effect on firm value intervening by stock prices. The advice given is for company management and the government to carry out domestic and international synergies. Domestic synergy aims to create product downstream, political, legal and economic stability. While international synergy aims to secure the export portion, sustainable plantation socialization and open new markets

scholarly journals PENGARUH KEPERCAYAAN DAN RISIKO TERPERSEPSI TERHADAP KEPUTUSAN PEMBELIAN DARING DENGAN HARGA TERPERSEPSI SEBAGAI VARIABEL PEMODERASI (STUDI KASUS PADA SHOPEE INDONESIA)

2019 ◽  
Vol 14 (2) ◽  
Author(s):  
Tisia Priskila
Keyword(s):  
Risk Perception ◽  
Perceived Risk ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Purchasing Decisions ◽  
Moderator Variable ◽  
Perceived Price ◽  
Negative Effect

This study aims to determine the effect of trust and risk perception on online purchasing decisions and the influence of price perception as a moderator variable on trust, risk perception, and online purchasing decisions. The analysis method used is PLS-SEM (Partial Least Square-Structural Equation Modeling) with a sample of 100 respondents. The results show that trust has a positive effect on online purchasing decisions and perceived risk has a negative effect on online purchasing decisions. Perceived price as a moderating variable weakens the influence of trust on online purchasing decisions but it does not have an influence on the relationship between risk perception and online buying decisions.<br />Keywords: trust, perceived risk, perceived price, purchase decision

The Effect of Growth and Systematic Risk on the Firm’s Value: Profitability as a Mediating Variable

2021 ◽  
Vol 23 (3) ◽  
Author(s):  
Mulyanto Nugroho ◽  
Abdul Halik
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Systematic Risk ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Equation Modeling ◽  
Significant Positive Effect ◽  
The Impact ◽  
Positive Effect

This research aimed to examine the impact of growth and systematic risk on company value, mediated by profitability in insurance companies listed on the Indonesia Stock Exchange (IDX). There are 88 companies in the financial sector in the insurance sub-sector listed on the IDX. They were taken as the population by using the purposive sampling technique. The sample of this study consisted of fourteen insurance companies. The data is analyzed using partial least square structural equation modeling (PLS-SEM). It was found that growth has a significant positive effect on profitability, and profitability has a significant positive effect on firm value. It means that profitability fully mediates the effect of growth on firm value. On the contrary, growth does not have a significant direct effect on firm value. Systematic risk has no significant effect on profitability and firm value. These findings are expected to have a good impact on investors and firms’ managers in Indonesia by looking at the growth and its impact on current corporate values.

scholarly journals PENGARUH INTELLECTUAL CAPITAL DAN CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI

2021 ◽  
Vol 4 (1) ◽  
pp. 426-436
Author(s):  
Anisa Hediyanti Muasiri ◽  
◽  
Erna Sulistyowati ◽  
Keyword(s):  
Corporate Governance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Structural Equation ◽  
Secondary Data ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Analysis Technique ◽  
Modeling Data

This study aims to test the influence of intellectual capital and corporate governance on firm value with profitability as a moderating variable. The population of this study is banking companies listed on IDX during 2015 –2019 amounted to 45 companies. Sampling techniques using purposive sampling so that research samples obtained as many as 15 companies. The research data used is secondary data obtained from the annual report and GCG reportof banking companies listed on IDX during 2015 –2019. This study uses structural equation modeling data analysis technique –partial least square (SEM-PLS) with WarpPLS 7.0 software. The result of this study shows that: (1) Intellectual capital positively and significantly affects the firm value, (2) Corporate governance has no effect on the firm value, (3) Profitability can moderate the influence of intellectual capital on the firm value, (4) Profitability can’t moderate the influence of corporate governance on the firm value.Keywords: Intellectual Capital, Corporate Governance, Firm Value, Profitability

scholarly journals PENGARUH PENAYANGAN IKLAN DARING SELAMA PANDEMI COVID-19 TERHADAP KOGNISI KONSUMEN AKAN KEBUTUHAN DAN DAMPAKNYA TERHADAP PERILAKU PEMBELIAN KONSUMEN

Prologia ◽  
2021 ◽  
Vol 5 (2) ◽  
pp. 411
Author(s):  
Cynthia Cynthia ◽  
Sherly Sherly ◽  
Fidelius Marlfel ◽  
Marlyn Marlyn ◽  
Keni Keni
Keyword(s):  
Consumer Behavior ◽  
Structural Equation ◽  
Need For Cognition ◽  
Positive Influence ◽  
Sem Analysis ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Negative Effect ◽  
The Relationship

Online ads which are basically faster, more effective, and more accurate tend to be more engaging than traditional ads. The influence of online ads does not happen instantly, other factors contribute to the changes in consumer behavior to become more impulsive. Consumer need for cognition is the factor that mediates the relationship. Consumers who have need for cognition tend to be more easily influenced by online ads, especially when it's done repeatedly. Therefore, this study was conducted to examine the relationship between repeated online ads and consumer need for cognition for the changes in consumer behavior that was strengthened or weakened by the COVID-19 pandemic. Hypothesis testing was carried out by using Partial Least Square - Structural Equation Modeling (PLS-SEM) analysis with SmartPLS software. The research results showed that repeated online ads and consumers' need for cognition had a positive influence on consumer buying behavior, but the COVID-19 pandemic had a negative effect.

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