scholarly journals UNCONDITIONAL CONSERVATISM AS A MEDIATION BETWEEN LEVERAGE AND SIZE TO FIRM VALUE

2019 ◽  
Vol 2 (2) ◽  
pp. 69-74
Author(s):  
DINUL ALFIAN AKBAR ◽  
AMRI AMIR ◽  
SRI RAHAYU ◽  
ASEP MACHPUDIN
Keyword(s):  
Direct Effect ◽  
Firm Value ◽  
Stock Exchange ◽  
Direct Influence ◽  
Indirect Influence ◽  
Conservative Accounting ◽  
Accounting Numbers

This research is motivated by the controversy regarding the benefits of conservative accounting numbers, intended to determine the direct effect of leverage and size on firm value, and the indirect influence of these variables through unconditional conservatism as an intervening variable on firm values ​​in 2010 - 2017 on the Stock Exchange Indonesia. The results were that the variable unconditional conservatism can mediate the influence between size on firm value. There is a direct influence between leverage and size on firm value.

scholarly journals The Influence of Profitability on Firm Value with Capital Structure as The Mediator

2020 ◽  
Vol 16 (2) ◽  
pp. 184-199
Author(s):  
Novi Mubyarto
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Path Analysis ◽  
Direct Effect ◽  
Indirect Effect ◽  
Firm Value ◽  
Direct Influence ◽  
Analysis Method ◽  
The Relationship ◽  
Significant Direct Effect

Abstract: The purpose of this research was to determine the direct and indirect effect of profitability on firm value using capital structure as a mediator. This involves using panel data from 44 companies listed on LQ45 as of 31st December 2015-2018 and analyzed using the path analysis method including Sobel Test and Bootstrapping technique. The results showed a positive and significant direct effect of profitability on firm value while the indirect effect using capital structure as a mediator between the two variables was found to be negative and significant. Moreover, the direct influence of capital structure on firm value was discovered to be negative and significant while the introduction of profitability variables in the relationship led to a positive and significant influence. Similarly, the direct effect of profitability on firm value using capital structure as the controlling variable was also found to be positive and significant.Keywords: firm value, capital structure, profitabilityPengaruh Profitabilitas Terhadap Nilai Perusahaan dengan Struktur Modal Sebagai MediatorAbstrak: Tujuan dari penelitian ini adalah untuk mengkaji bagaimana pengaruh langsung profitabilitas terhadap nilai perusahaan, dan pengaruh tidak langsung melalui struktur modal sebagai mediator. Menggunakan data panel dari 44 perusahaan yang tercatat di LQ45 per tanggal 31 Desember selama periode 2015 sampai 2018. Metode analisis yang digunakan adalah metode analisis jalur (Path Analysis), dengan Teknik Sobel Test dan Bootsrapping. Hasil riset membuktikan bahwa terdapat pengaruh langsung yang positif dan signifikan antara profitabilitas terhadap nilai perusahaan. Namun, jika dilihat secara tidak langsung pengaruh profitabilitas terhadap nilai perusahaan melalui struktur modal sebagai mediator adalah negatif dan signifikan. Selanjutnya, pengaruh langsung profitabilitas terhadap struktur modal adalah negatif dan signifikan. Sementara ketika dikontrol oleh variabel profitabilitas, pengaruh struktur modal terhadap nilai perusahaan positif dan signifikan. Begitu pula dengan pengaruh langsung profitabilitas terhadap nilai perusahaan dengan mengontrol variabel struktur modal juga positif dan signifikan.Kata kunci: nilai perusahaan, struktur modal, profitabilitas

scholarly journals ANALISIS PERBANDINGAN PENGARUH LANGSUNG DAN TAK LANGSUNG FAKTOR BUDAYA ORGANISASI DAN KOMITMEN TERHADAP KINERJA KARYAWAN PADA UPTD PARKIR KOTA SURABAYA

2017 ◽  
Vol 13 (2) ◽  
pp. 241
Author(s):  
Lilis Ardini
Keyword(s):  
Organizational Culture ◽  
Path Analysis ◽  
Direct Effect ◽  
Indirect Effect ◽  
Employee Performance ◽  
Employee Commitment ◽  
Organization Culture ◽  
Direct Influence ◽  
Managerial Work ◽  
Indirect Influence

UPTD  Public Parking DISHUB Surabaya intends  to run its working durability which one of them is caused by customer’s high loyalty. Service and post-service are factors that are important to create organizational culture towards managerial work and commitment. Therefore, we should examine the role of service variable to commitment variable as intervening variable.Respondents of this study are 87 samples by using purposive sampling method. Questionnaire consists of 3 variables, those are organizational culture with 26 indicators, then commitment with 15 indicators, and managerial work  with 10 indicators .Suitable method to answer above problem is Path Analysis. The result is that path analysis shows that managerial work  may have direct influence to commitment  and have indirect influence that is from organizational culture to commitment as a new intervening to managerial work. Direct influence of organizational culture  to managerial work  that is  is 0,232. Indirect influence of organizational culture  to commitment  that is 0,810, meanwhile from commitment to managerial work, that is 0,617. Therefore, indirect influence, that (0,810)*(0,617)=0,4997.Hypothesis stating that assumption of organization culture direct effect on performance be higher than organization culture indirect effect via employee performance commitment in UPTD Parkir of Surabaya City are refused. Cause organization culture indirect effect through employee performance are 0,49977 while organization culture direct effect on employee performance are 0,232. This result proving that Organization Culture which created the company as conducive will emerging Employee Commitment. Through this Employee Commitment. Will be effected on Employee Performance then furthermore effecting Organization Performance. Based on those results, it can be suggested that a company should give more emphasize to organizational culture  and commitment  because there is evidence that it may cause customer’s managerial work because organizational culture is a very important factor in guaranteeing UPTD  Public Parking DISHUB Surabaya.

PENGARUH KINERJA KEUANGAN PERBANKAN BERDASARKAN ANALISIS CAMELS TERHADAP HARGA SAHAM DENGAN CSR SEBAGAI VARIABEL INTERVENING

IQTISHODUNA ◽  
2013 ◽  
Vol 9 (2) ◽  
pp. 192-204
Author(s):  
Muhammad Sulhan ◽  
Dewi Nur Halimah
Keyword(s):  
Significant Influence ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Financial Ratios ◽  
Direct Influence ◽  
Indirect Influence ◽  
Level Of Significance

" CAMELS method, as a standart of Bank of Indonesia to asses bank health, is employed to ratebanking health. Moreover, companies is eager to implement CSR program as a hidden way to attract publicattention. This study aims to identify and analyze the direct influence of financial ratios such as CAR, KAP,NPM, ROA, ROA and LDR on CSR and the direct influence of CAR ratio; KAP, NPM, ROA, BOPO, LDR andCSR on stock prices; and indirect influence of CAR, KAP, NPM, ROA, ROA and LDR ratios to the stock pricewith CSR as an intervening variable. The population in this study are 29 banks which has go public in theIndonesia Stock Exchange and the sample in this study are 10 banking companies. The results of the studywith 5% level of significance shows that 76.4% information contained in the data can be explained by themodel. While the diversity of the remaining 23.6% is explained by other variables. The result of partial assayshows that only ROA and LDR which have significant influence on CSR. In contrast, CAR, KAP, NPM, ROAand LDR have no significant influence on CSR. The partial influence of CAMELS on stock prices only CARand KAP which have no significant influence on the go public company’s stock price. While NPM, ROA,ROA, LDR and CSR have significant influence on the stock prices. And for the indirect influence, only ROAand LDR which have indirect influence on stock prices through CSR.

scholarly journals Pengaruh Leverage Dan Good Coorporate Governance Terhadap Nilai Perusahaan Melalui Kebijakan Dividen

2020 ◽  
Vol 3 (2) ◽  
pp. 158
Author(s):  
Wati Rosmawati
Keyword(s):  
Corporate Governance ◽  
Direct Effect ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Financial Statement ◽  
Corporate Value ◽  
Good Corporate Governance ◽  
Significant Direct Effect

Purpose of this study is to analyze the influence of leverage and good corporate governance on firm value using dividend policy as an intervening variable. The sample of this research is BUMN listed on the Indonesia Stock Exchange with the 2014-2018 financial statement period. From the results of the study found that there is no direct effect of leverage on dividend policy. There is a significant direct effect on leverage on firm value. Good corporate governance directly has no significant effect on corporate value. Dividend policy directly does not have a significant effect on firm value. Leverage through dividend policy has no significant effect on firm value. Good corporate governance through dividend policy has a significant effect on firm value.

scholarly journals PENGARUH LIKUIDITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

Equity ◽  
2017 ◽  
Vol 20 (1) ◽  
pp. 35
Author(s):  
Maria Dominika Edo Hera ◽  
Dahlia Br Pinem
Keyword(s):  
Capital Structure ◽  
Path Analysis ◽  
Consumer Goods ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Direct Influence ◽  
Test Results ◽  
Significance Level

The purpose of this study was to examine the effect of liquidity and capital structure on firm value with profitability as intervening variable. The population in this study is the consumer goods sector companies listed in the Indonesia Stock Exchange from 2013-2016. Sampling technique using purposive sampling method, with samples produced as many as 20 companies from 37 companies of consumer goods sector. This hypothesis testing uses Path Analysis with E-Views 9.0 and a significance level of 5%. Test results of the testing showed that (1) liquidity has a significant effect on profitability with significance level 0,0192 < 0,05. (2) capital structure has a significant effect on profitability with a significance level of 0.0003 < 0,05. (3) liquidity has no effect on firm value because of the significance level of 0.09982> 0.05. (4) capital structure has a significant effect on firm value with significance level 0,0000 < 0,05. (5) profitability has a significant effect on firm value with significance level of 0.0001 < 0,05. (6) liquidity and capital structure has no effect on firm value through profitability because the indirect influence of both variables is smaller than direct influence.

scholarly journals Pengaruh Faktor-faktor Ekonomi Makro Terhadap Return Saham Dengan Profitabilitas Sebagai Variabel Intervening Pada Perusahaan Perbankkan Peraih Indonesia Banking Award (IBA) Tahun 2018

2019 ◽  
Vol 4 (1) ◽  
pp. 89
Author(s):  
Tuti Zakiyah
Keyword(s):  
Stock Returns ◽  
Money Supply ◽  
Direct Effect ◽  
Secondary Data ◽  
Direct Influence ◽  
Macroeconomic Variables ◽  
Independent Variables ◽  
Indirect Influence ◽  
Positive Direct ◽  
Intervening Variables

This study aims to examine and analyze the direct effect of macroeconomic variables on stock returns, as well as the indirect influence of macroeconomic variables on stock returns through profitability as measured by ROA as an intervening variable. This research was conducted on banks that received the IBA 2018 award and were listed on the IDX for the period 2009-2017. The data used is quantitative secondary data obtained by documenting various official sites. In econometrics the research data is included in the panel data. The population in this study were 15 banks and obtained a sample of 10 banks for 9 years using a purposive sampling method to form a panel of 90 samples. Hypothesis testing in this study uses t-statistic test to determine the direct effect of independent variables and intervening variables on the dependent variable, and compare the value of direct influence and indirect influence to determine the indirect effect of independent variables on the dependent variable through intervening variables. The results of this study are that inflation does not have a direct influence on stock returns. The BI rate does not have a direct influence on stock returns. and changes in the money supply do not directly affect stock returns. Profitability has a significant positive direct effect on stock returns. Inflation has an indirect influence on stock returns through profitability as an intervening variable. The BI rate has an indirect influence on stock returns through profitability as an intervening variable. and the money supply has an indirect influence on stock returns through profitability as an intervening variable.

scholarly journals EARNINGS AND FIRM VALUE: THE MODERATING IMPACT OF LARGE DEFERRED TAXES AND LARGE ACCRUALS IN INDONESIA

2021 ◽  
Vol 22 (2) ◽  
pp. 241-248
Author(s):  
Bambang Sutopo ◽  
Arum Kusumaningdyah Adiati ◽  
Purnama Siddi
Keyword(s):  
Financial Reporting ◽  
Firm Value ◽  
Stock Exchange ◽  
Financial Information ◽  
Deferred Taxes ◽  
Conservative Accounting ◽  
Negative Effect ◽  
Deferred Tax ◽  
Reported Earnings ◽  
The Relationship

Deferred tax and accruals have the characteristic of causing reported earnings to be above or below normal. Both are permitted to be used by companies in financial reporting. This study examines whether large deferred taxes and large accruals have an impact on the relationship between earnings and firm value. Using a sample that includes 1938 company-year observations for the 2007−2017 periods listed on the Indonesia Stock Exchange (IDX), this study found that large positive deferred taxes with large positive accruals had weakened the relationship between earnings and firm value. In contrast to these results, a large negative deferred tax with a large negative accrual does not have an impact on the relationship between earnings and the firm value. This finding suggests that “liberal” accounting policies that cause reported “above normal” earnings have a negative effect on the association between earnings and firm value. However, “below normal” earnings resulting from “conservative” accounting policies do not affect the association between earnings and firm value. The uniqueness of this study is the incorporation of deferred taxes with accruals with variations in the form of positive versus negative and large versus small. The findings imply that the presentation of financial information with small deferred taxes and small accruals is more beneficial for investors compared to financial information with large positive deferred taxes and large positive accruals. However, results of this study indicate that large negative deferred taxes and large negative accruals, indicating conservative accounting, are not responded differently by investors.

scholarly journals ANALYSIS OF THE EFFECT OF WCTO, FATO AND TA ON COMPANY VALUE WITH ROE AS INTERVENING VARIABLES

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Bambang Widagdo ◽  
Chalimatuz Sa'diyah
Keyword(s):  
Direct Effect ◽  
Indirect Effect ◽  
Firm Value ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Working Capital ◽  
Asset Turnover

The aims of this research is to examine the direct effect and indirect effect of Working Capital Turnover, Fix Asset Turnover and Total Asset on Firm Value with Return On Equity as an intervening variable. This research sample is manufacturing companies listed in the Indonesia Stock Exchange (IDX) for the period 2017-2019 by using purposive sampling method. There are 109 manufacturing companies selected as sample. The analysis used is Partial Least Square Analysis. The result of direct effect showed that WCTO has positive significant effect on Firm Value. WCTO has a positive significant effect on ROE. FATO has a positive significant effect on ROE. TA has a positive significant effect on ROE. TA has a positive significant effect on Firm Value. ROE has a positive significant effect on Firm Value. The result of indirect effect showed that WCTO, FATO and TA influence Firm Value through ROE. Besides, it was found that the greatest of indirect effect showed that FATO influence Firm Value through ROE. Keywords: Working Capital Turnover, Fix Asset Turnover; Total Asset; Firm Value

scholarly journals PENGARUH LIKUIDITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

Equity ◽  
2017 ◽  
Vol 20 (1) ◽  
pp. 35
Author(s):  
Maria Dominika Edo Hera ◽  
Dahlia Br Pinem
Keyword(s):  
Capital Structure ◽  
Path Analysis ◽  
Consumer Goods ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Direct Influence ◽  
Test Results ◽  
Significance Level

The purpose of this study was to examine the effect of liquidity and capital structure on firm value with profitability as intervening variable. The population in this study is the consumer goods sector companies listed in the Indonesia Stock Exchange from 2013-2016. Sampling technique using purposive sampling method, with samples produced as many as 20 companies from 37 companies of consumer goods sector. This hypothesis testing uses Path Analysis with E-Views 9.0 and a significance level of 5%. Test results of the testing showed that (1) liquidity has a significant effect on profitability with significance level 0,0192 < 0,05. (2) capital structure has a significant effect on profitability with a significance level of 0.0003 < 0,05. (3) liquidity has no effect on firm value because of the significance level of 0.09982> 0.05. (4) capital structure has a significant effect on firm value with significance level 0,0000 < 0,05. (5) profitability has a significant effect on firm value with significance level of 0.0001 < 0,05. (6) liquidity and capital structure has no effect on firm value through profitability because the indirect influence of both variables is smaller than direct influence.

scholarly journals Analisa Nilai Perusahaan Ditinjau dari Profitabilitas dan Struktur Modal dengan Ukuran Perusahaan sebagai Variabel Intervening (Studi Empiris pada Perusahaan Subsektor Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2015 – 2018)

2020 ◽  
Vol 5 (01) ◽  
pp. 104-121
Author(s):  
Joni Joni ◽  
Hamdy Hady ◽  
Elfiswandi Elfiswandi
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Total Population ◽  
Stock Exchange ◽  
Secondary Data ◽  
Direct Influence ◽  
Analysis Model ◽  
Independent Variables

This reaserch was aimed to analyze the firm value in terms of profitability, capital structure and firm size partially and simultaneously on property and real estate companies listed on the Indonesia Stock Exchange in 2015 - 2018.  The independent variables used in this study are profitability and capital structure; firm size as an intervening variable.  While the dependent variable in this study is firm value.  Firm value was calculated by using the Tobin'Q ratio. The total population in this research was 54 companies and 30 companies were taken as the sample.  This research used secondary data that has passed the Classical Assumption Test.   Hypothesis testing was carried out using Multiple Linear Analysis, Model test (t-test and F-Test), Coefficient Determination, and Path Analysis. The result of the research shows that :(1) Profitability partially has no effect on firm size ;(2)  Capital structure partially has no effect on firm size ; (3) Profitability and capital structure simultaneously have no effect on firm size ;(4) Profitability partially has no effect on firm value ; (5) Capital structure partially has significant effect on firm value ;(6) Firm size partially has a significant effect on firm value ; (7) Profitability, capital structure and firm size simultaneously have  significant effect on firm value : (8) Profitability has  direct influence on firm value ;(9) Capital structure has direct influence on firm value.

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