scholarly journals EFFECT OF INTELLECTUAL CAPITAL, CAPITAL STRUCTURE AND MANAGERIAL OWNERSHIP TOWARD FIRM VALUE OF MANUFACTURING SECTOR COMPANIES LISTED IN INDONESIA STOCK EXCHANGE (IDX) PERIOD 2010-2014

2015 ◽  
Vol 6 (2) ◽  
pp. 558
Author(s):  
Hamidah Hamidah ◽  
Gatot Nazir Ahmad ◽  
Rahma Aulia
Keyword(s):  
Capital Structure ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Panel Data Analysis ◽  
Value Added ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Result Show

The purpose of this study is to know the effect of Intellectual Capital, Capital Structure and Managerial Ownership on Firm Value in Manufacturing Company Listed on Indonesia Stock Exchange in 2010-2014. In this research, intellectual capital can be seen from VACA (Value Added Capital Employed), VAHU (Value Added Human Capital), and STVA (Structural Capital Value Added). The research model in this study employs panel data analysis. The samples are manufacturing companies listed in Indonesian Stock Exchange in 2010-2014 selected by purposive sampling. The result show that VACA and STVA has negative  and not significant effect on firm value (Tobins’Q). Whereas, VAHU have positive and not significant effect on firm value. Capital structure (DAR) have positive and significant effect on firm value. Managerial ownership (MGRL) have negative and significant effect on firm value.    Keywords: Firm Value, Intellectual Capital, VACA, VAHU, STVA, Capital Structure, Managerial Ownership.

scholarly journals How Does Firm Size and Capital Structure Affect Firm Value?

2021 ◽  
Vol 1 (2) ◽  
Author(s):  
Radhika Putri Nursetya ◽  
Lina Nur Hidayati
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Data Gathering ◽  
Value Added ◽  
Company Size ◽  
Corporate Value ◽  
Manufacturing Companies ◽  
Corporate Valuation

Objective: This paper explores whether the firm size and capital structure have an impact on corporate valuation. Then it will raise profitability as an intervening variable on the effect of company size and capital structure on corporate valuation. Research Design & Methods: Data gathering method is finalized by using the documentation method. In this study, data were obtained from published financial reports. Samples from this study were 30 manufacturing companies listed on the Indonesia Stock Exchange. Findings: The results exhibited that firm size affected profitability and firm value. In the meantime, the capital structure has a big influence on performance and does not affect the company's valuation. Profitability has a positive effect on corporate value. This study also concludes that profitability can mediate firm size to firm value. Conversely, profitability cannot mediate capital structure on corporate value.   Implications & Recommendations: This study offers empirical evidence that profitability can be an intervening variable in firm size's effect on firm value. In further research, other variables can be added, which are considered to mediate company size and capital structure on corporate value.  Contribution & Value Added: This study's results contribute to the financial literature, especially those related to public corporations' value in Indonesia. As a practical contribution, stockholders can use this study's outcomes as additional information in investment decisions.

scholarly journals The Influence of Intellectual Capital on Firm Value towards Manufacturing Performance in Indonesia

2015 ◽  
Author(s):  
Euphrasia Susy Suhendra
Keyword(s):  
Firm Performance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Structural Equation ◽  
Stock Exchange ◽  
Value Added ◽  
Secondary Data ◽  
Market Valuation ◽  
Annual Reports ◽  
Manufacturing Companies

The aim of this study is to analyse the influence of intellectual capital on firm value through firm performance (profitability, productivity, market valuation and growth). Intellectual capital is measured by using a Value Added Intellectual Coefficient (VAIC™). Firm value is measured by Tobin's Q. The financial performance consists of Return on assets (ROA), Asset turn over (ATO), Market to Book Value (MB) and Earnings per Share (EPS). Data from this study was obtained from financial statements and annual reports of manufacturing companies that are taken from the Indonesia Stock Exchange. The sample of this study is manufacturing companies listed on the Indonesia Stock Exchange during the year of 2011-2013 for 37 companies. The types of data used are secondary data in the form of annual reports by the manufacturing companies. Empirical analysis is conducted by using Structural Equation Modelling (SEM). The results of this study indicate that Intellectual capital has a significant effect on profitability, market valuation and growth. Intellectual capital does not significantly affect productivity and firm value. Market valuation significantly affects the firm value. Profitability, productivity and growth do not significantly affect firm value. Furthermore, Intellectual capital which is intervened by the firm performance has a positive effect on firm value.

scholarly journals Effect of Growth Opportunity, Corporate Tax, and Profitability toward Value of Firm through Capital Structure (listed Manufacturing Companies of Indonesia)

2019 ◽  
Vol 23 (5) ◽  
pp. 18-29
Author(s):  
. Amarudin ◽  
M. Adam ◽  
U. Hamdan ◽  
A. Hanafi
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Manufacturing Companies ◽  
Corporate Tax ◽  
Growth Opportunity ◽  
Study Results ◽  
Value Of Firm ◽  
Positive Effect

The study aims to determine the Effect of growth opportunity, corporate tax, and profitability on the value of firm through the capital structure as an intervening variable at manufacturing companies in Indonesia Stock Exchange. The sample consists of 32 manufacturing sector companies listed in Indonesia Stock Exchange within 2013–2017. The study results show that growth opportunity and corporate tax have a positive effect on the structure of capital, in contrast to profitability, which affects negatively. Meanwhile, capital structure and profitability have a positive Effect on firm value. On the other hand, growth opportunity and corporate tax have no bearing on company value. Yet, capital structure does not mediate between growth opportunity and corporate tax to the value of firm. Nevertheless capital structure mediates the Effect of profitability on the value of firm.

scholarly journals Analisis Modal Intelektual Dan Kinerja Keuangan Serta Pengaruhnya Terhadap Nilai Perusahaan

2019 ◽  
Author(s):  
Riski Wahyudi ◽  
Lidya Martha
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Value Added ◽  
Financial Statements ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Book Value ◽  
Company Value

This study aims to examine the effect of intellectual capital and financial performance on the value of companies in manufacturing companies listed on the Indonesia Stock Exchange (IDX). The research population is all manufacturing companies listed on the Indonesia Stock Exchange for the period 2013 - 2017. This sample was selected using a purposive sampling method with sample criteria. Manufacturing is listed on the IDX during the end of 2017 period, Manufacturing is listed consecutively during the period 2013 - 2017, Manufacturing that uses Rupiah, Manufacturing that has complete financial statements for the period 2013 - 2017, Manufacturing that has financial data in accordance with the variables to be tested, namely Price to Book Value, Value Added Intellectual Coefficient, Return On Assets, and Manufacturing that does not has data outliers, and obtained a sample of 11 companies. The data source is the annual financial statements of manufacturing companies taken through the official website of the Indonesia Stock Exchange ( www.idx.co.id ). Testing uses panel data regression analysis with the Eviews Program tool. Intellectual capital is measured using Value Added Intellectual Coefficient (VAIC), while financial performance is measured by Return on Assets (ROA) and company value measured by Price to Book Value (PBV). The results showed that the variable intellectual capital had a negative and not significant effect on firm value, while financial performance had a positive and significant effect on firm value.

scholarly journals PENGARUH PERENCANAAN PAJAK, STRUKTUR MODAL DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN DENGAN TRANSPARANSI PERUSAHAAN SEBAGAI VARIABEL MODERASI

2022 ◽  
Vol 6 (1) ◽  
pp. 1-12
Author(s):  
Deaelma Sari ◽  
Wiwit Irawati
Keyword(s):  
Data Analysis ◽  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Tax Planning ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Corporate Transparency ◽  
The Relationship

This study aims to identify and prove empirically the effect of Tax Planning, Capital Structure and Managerial Ownership on Firm Value with Corporate Transparency as a moderating variable. This type of research is quantitative approach research with explanatory research and associative methods. Samples were taken using the purposive sampling technique using Eviews 9 software for data analysis. The sample consists of 60 data from 12 property and real estate subsector manufacturing companies listed on the Indonesia Stock Exchange in 2016-2020. The results show that Tax Planning, Capital Structure and Managerial Ownership simultaneously affect the value of the company which is moderated by corporate transparency, tax planning has no effect on firm value, the capital structure does not affect firm value, managerial ownership does not affect firm value, and corporate transparency does not. effect on firm value, corporate transparency is unable to moderate the relationship between tax planning and firm value, corporate transparency is unable to moderate the relationship between capital structure and firm value, and corporate transparency is unable to moderate the relationship between managerial ownership and firm value.  

scholarly journals ANALISIS PENGARUH PROFITABILITAS, UKURAN PERUSAHAAN, PERTUMBUHAN PERUSAHAAN, DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

2021 ◽  
Vol 17 (2) ◽  
pp. 157-174
Author(s):  
Karen Trifena Thio ◽  
Caecilia Atmini Susilandari
Keyword(s):  
Linear Regression ◽  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Research Result ◽  
Value Added ◽  
Manufacturing Companies ◽  
Independent Variables ◽  
Size Growth ◽  
Manufacture Firm

This research aims to analyse the development of firm value of the manufacture companies. Based on the data of the Indonesian Ministry of Industry, it shows that value added for manufacturing companies increase, and also increase the contribution of manufacture companies to the development of economic of Indonesia.  Profitability, size, growth, and capital structure as independent variables are used to identify the influence of manufacture firm value. There shall be 166 samples of listed manufacture companies in Indonesia Stock Exchange in 2014-2018 which suit for criteria needed, and the data processing using multiple linear regression.  The research result shows that only profitability and size variables which have positive significant influences to firm value variable on t- test. Besides, growth and capital structure variables are vice versa.

scholarly journals Pengaruh Pertumbuhan Perusahaan, Profitabilitas, Likuiditas, Struktur Modal Dan Struktur Kepemilikan Terhadap Nilai Perusahaan

2019 ◽  
Vol 8 (1) ◽  
Author(s):  
Sandra Laurencia Mandjar, Yustina Triyani
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Firm Growth ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sufficient Evidence ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
A Company

In general, the long-term goals of a company is to maximize the value of the company. A good firm value makes the company well-regarded by potential investors, that will make the value of shareholders increase and the value of the company will increases which is marked by high return of investment to shareholder. The purpose of this research is to gain empirical evidence about the effects of firm growth, profitability, liquidity, capital structure, managerial ownership, and institusional ownership on firm value in manufacturing companies listed on the Indonesian Stock Exchange in the period of 2014-2016. The object in this research uses the financial statements of manufacturing firms listed in the Indonesian Stock Exchange in the period of 2014-2016. Sampling method used in this research is purposive sampling method with 7 criterias, with 141 firms as sample. The analysis used are descriptive statistical analysis, the similiarity coefficient test, the classical assumption test and multiple regresion test. The conclusion of this research show that firm growth, liquidity, capital structure, managerial ownership, and institusional ownership did not prove to significantly influence the firm value, while profitability have sufficient evidence of positive effect on firm value.Keywords: Firm value, Growth, profitability, liquidity

scholarly journals Pengaruh Struktur Modal, Profitabilitas, Ukuran Perusahaan dan Modal Intelektual Terhadap Nilai Perusahaan Pada Indeks LQ 45 Periode 2010-2017

2021 ◽  
Vol 13 (2) ◽  
pp. 93-111
Author(s):  
Roma Prima ◽  
Rangga Putra Ananto^2 ◽  
Muhammad Rafi
Keyword(s):  
Capital Structure ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Value Added ◽  
Secondary Data ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Company Value

This study aims to examine the effect of capital structure, profitability, firm size and intellectual capital towards firm value. Capital structure is proxied by Debt to Equity Ratio (DER), profitability is proxied by Return On Assets (ROA), company size is proxied by Ln from total assets, intellectual capital is proxied by Value Added Intellectual Coefficient (VAIC) and company value is proxied by Price to Book Value (PBV). The data used in this study is secondary data obtained from the company's financial statements on the LQ 45 index listed on the Indonesia Stock Exchange for the period 2010-2017. The sampling technique was carried out using purposive sampling and obtained a sample of 15 companies. The data analysis technique used was multiple linear regression analysis using SPSS version 20. The results showed that the capital structure had no effect on the value of the company, profitability had an effect on the value of the company, the size of the company did not affect the value of the company and intellectual capital did not affect the value of the company.

scholarly journals The Effects Of Financial Performance Toward Firm Value With Ownership Structure As Moderating Variable (The Study On Manufacturing Companies Listed In Indonesia Stock Exchange In The Period Of 2012-2016)

2018 ◽  
Vol 2 (1) ◽  
pp. 18-27
Author(s):  
Anida Amalia Luthfiah ◽  
Suherman Suherman
Keyword(s):  
Financial Performance ◽  
Firm Size ◽  
Ownership Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Control Variable ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Manufacturing Companies

The aim of this study is to determine the effect of Financial Performance toward Firm Value with Ownership Structure as Moderating Variable on Manufacturing Companies Listed in Indonesia Stock Exchange in The Period of 2012-2016. Independent variable of this study is Financial Performance with Return on Assets as a proxy. Dependent variable of this study is Firm Value with Tobin's Q as a proxy. While moderating variable used in this study is a mechanism of Corporate Governance in the form of Ownership Structure with Managerial Ownership and Institutional Ownership as the proxy. Then control variable in this study are Firm Size and Leverage. The research model of this study employs panel data analysis with Fixed Effect Model approach. The empirical result shows that Financial Performance has positive significant effect on Firm Value. Managerial Ownership and Institutional Ownership can't moderate the relation between Financial Performance on Firm Value. Firm Size has negative significant effect on Firm Value. And Leverage has insignificant effect on Firm Value.

scholarly journals PENGARUH KEPEMILIKAN MANAJERIAL, UKURAN PERUSAHAAN, PROFITABILITAS, KEBIJAKAN DIVIDEN, KEPUTUSAN INVESTASI, STRUKTUR MODAL DAN INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN KELUARGA YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016 – 201

2021 ◽  
Vol 33 (01) ◽  
pp. 79-99
Author(s):  
Endang Wahyuni ◽  
Endang Purwaningsih
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Intellectual Capital ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Positive Effect

This study aims to provide empirical evidence regarding the effect of managerial ownership, firm size, profitability, dividend policy, investment decisions, capital structure and intellectual capital on firm value. The population of this study is family companies listed on the Indonesia Stock Exchange during 2016-2019. The sample of this research is 128 samples. Sampling using purposive sampling method, namely determining the sample from the existing population based on the criteria desired by the researcher. This study uses multiple linear regression to analyze the data. The results of this study indicate managerial ownership has no effect on firm value, firm size has no effect on firm value, profitability has a significant positive effect on firm value, dividend policy has no effect on firm value, investment decisions have a significant positive effect on firm value, capital structure has a significant negative effect on firm value, and intellectual capital has no effect on firm value.

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