Analisis Efek Anteseden Struktur Modal Pada Nilai Perusahaan

The research aims to examine the antecedent variables of capital structure, such as profitability, firm size, investment opportunity set, managerial ownership, and dividend policy, and its effect on the firm value. We used 41 listed firms of the Indonesia Stock Exchange from manufacturing industry in 2012-2017 period. We used factor analysis to determine the representativeness of independent variables as the capital structure variables then we tested its effect on firm value by using multiple linear regression. The results indicate that profitability, firm size, investment opportunity set, managerial ownership, and dividend policy simultaneously have a statistically significance influence on capital structure. Partially, profitability has a statistically significance negative effect on capital structure, investment opportunity set has a statistically significance positive effect on capital structure, and managerial ownership has a statistically significancenegative effect on capital structure, while firm size and dividend policy have no statistically effect on capital structure. This research give an empirical evidence that capital structure have a statistically significance positive effect on firm value. This result have an implication that the antecedent effect of capital structure is positive and statistically significance on firm value.

Download Full-text

PENGARUH KEBIJAKAN HUTANG, KEBIJAKAN DIVIDEN, PROFITABILITAS, PERTUMBUHAN PENJUALAN DAN KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v6i2.5558 ◽

2019 ◽

Vol 6 (2) ◽

pp. 201

Author(s):

Vivi Apriliyanti ◽

Hermi Hermi ◽

Vinola Herawaty

Keyword(s):

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Sales Growth ◽

Manufacturing Companies ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Debt Policy ◽

Positive Effect

AbstractThe purpose of this study was to examine the influence of debt policy, dividend policy,profitability, sales growth and investment opportunity set on firm value with firm size as moderating variable in the manufacturing companies on the Indonesia Stock Exchange (IDX). The population used in this study is a company that is listed on the Indonesia Stock Exchange. The sample used in this study 128 companies with an observation period of 3 (three) years from 2016 to 2018. The method of determining the sample used in this study was the purposive sampling method. The data processing method used in this study is the causality test with multiple regression analysis using SPSS version 23. The independent variables in this study are Debt Policy, Dividend Policy, Profitability, Sales Growth and Investment Opportunity. The moderating variable in this study is Company Size. The dependent variable in this study is firm value. The results of this study indicate that Debt Policy has a positive effect on Firm’s Value, Dividend Policy does not effect on Firm Value, Profitability does not have a positive effect on Firm’s Value, Sales Growth does not effect on Firm’s Value, Investment Opportunity Set does not effect on Firm’s Value, Firm Size does not have a positive effect on Firm’s Value, Firm Size does not strengthen the realtionship between Debt Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Dividend Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Profitability with Firm’s Value, Firm Size does not strengthen the realtionship between Sales Growth with Firm’s Value, Firm Size does not strengthen the realtionship between Investment Opportunity Set with Firm’s Value.

Download Full-text

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

Media Akuntansi ◽

10.47202/mak.v33i01.115 ◽

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.

Download Full-text

FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN: KEBIJAKAN DIVIDEN SEBAGAI PEMEDIASI

Jurnal Bisnis dan Akuntansi ◽

10.34208/jba.v21i2.617 ◽

2019 ◽

Vol 21 (2) ◽

pp. 165-178

Author(s):

AULIA NUR HASANAH ◽

WIDYAWATI LEKOK

Keyword(s):

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Cash Holdings ◽

Selection Procedure ◽

Managerial Ownership ◽

Investment Opportunity ◽

Financial Leverage ◽

Samples Selection

The purpose of this study is to get emperical evidence about the influence of managerial ownership, financial leverage, profitability, firm size, investment opportunity, dividend policy, cash holdings, and number of independence board to the firm value; The influence of managerial ownership, financial leverage, profitability, firm size, and investment opportuinity to the firm value which is mediated by dividend policy. The population are non financial companies listed in Indonesia Stock Exchange (IDX) from the period of 2014 to 2016. This study used 55 samples and samples selection procedure used purposive sampling. Data were analyzed using multiple regression method and path analysis. The result of this study shows that financial leverage, profitability, and dividend policy have influence toward firm value. While managerial ownership, firm size, investment opportunity, cash holdings and independence board have no influence toward firm value. Dividend policy mediate the correlation of managerial ownership and firm size to the firm value. While dividend policy does not mediate financial leverage, profitability, and investment opportunity to the firm value.

Download Full-text

PENGARUH STRUKTUR KEPEMILIKAN MANAJERIAL, STRUKTUR KEPEMILIKAN INSTITUSIONAL, SET KESEMPATAN INVESTASI, UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Jurnal Ekonomi dan Bisnis Airlangga ◽

10.20473/jeba.v27i12017.5514 ◽

2017 ◽

Vol 27 (1) ◽

Author(s):

Purwo Adi Nugroho

Keyword(s):

Firm Size ◽

Ownership Structure ◽

Firm Value ◽

Stock Exchange ◽

Institutional Ownership ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Real Estate Company ◽

Observation Period

The main purpose of this study was to determine the effect of managerial ownership structure, institutional ownership structure, investment opportunity set and firm size on firm value. The population of this study is a real estate company that listed on the Indonesia Stock Exchange with the observation period 2008 to 2012. Data obtained by the method of purposive sampling and the 42 companies sampled each year. The method of analysis used is multiple linear regression by using SPSS 20.0. The results of this study indicate that: (1) managerial ownership structure has no effect on firm value, (2) institutional ownership structure has significant effect on firm value, (3) investment opportunity set has significant effect on firm value, and (4) firm size has significant effect on firm value. Key words: managerial ownership structure, institutional ownership structure, investment opportunity set, firm size and firm value

Download Full-text

PENGARUH UKURAN PERUSAHAAN, LEVERAGE,SALES GROWTH DAN INVESTMENT OPPORTUNITY SET TERHADAP NILAI PERUSAHAAN

Jurnal Profita ◽

10.22441/profita.2020.v13.01.008 ◽

2020 ◽

Vol 13 (1) ◽

pp. 96

Author(s):

Agustina Khoeriyah

Keyword(s):

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Sales Growth ◽

Significant Positive Effect ◽

Investment Opportunity ◽

Mining Companies ◽

Investment Opportunity Set ◽

Negative Effect ◽

Positive Effect

This study aims to determine the effect of firm size, leverage , sales growth, and investment opportunity set to the value of company. The sample in this study were 53 data from 18 mining companies listed on the Indonesia Stock Exchange in the 2015-2018 period that met the criteria. This type of research is quantitative and the sample used is purposive sampling. The analysis of the data used is the statistical analysis in the form of multiple linear regression. The results of this study indicate that firm size does not effect the firm value, leverage has a significant negative effect on firm value, sales growth and investment opportunity set has a significant positive effect on firm value.

Download Full-text

PENGARUH STRUKTUR KEPEMILIKAN MANAJERIAL, STRUKTUR KEPEMILIKAN INSTITUSIONAL, SET KESEMPATAN INVESTASI, UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Jurnal Ekonomi dan Bisnis Airlangga ◽

10.20473/jeba.v27i12017.73-90 ◽

2017 ◽

Vol 27 (1) ◽

pp. 73

Author(s):

Purwo Adi Nugroho

Keyword(s):

Firm Size ◽

Ownership Structure ◽

Firm Value ◽

Stock Exchange ◽

Institutional Ownership ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Real Estate Company ◽

Observation Period

Download Full-text

Testing of Investment Opportunity Set (IOS), firm size, and risk of investment as variables that affect dividend policy in property and real estate companies listed on the Indonesia Stock Exchange (BEI) during the 2013–2017 period

The Future Opportunities and Challenges of Business in Digital Era 4.0 ◽

10.1201/9780367853778-82 ◽

2020 ◽

pp. 314-317

Author(s):

Hidayah Wiweko ◽

Igo Febrianto ◽

Shavira Putri Darayani

Keyword(s):

Real Estate ◽

Firm Size ◽

Dividend Policy ◽

Stock Exchange ◽

Investment Opportunity ◽

Investment Opportunity Set

Download Full-text

PENGARUH PROFITABILITAS, INVESTMENT OPPORTUNITY SET, DAN KEPEMILIKAN MANAJERIAL TERHADAP KEBIJAKAN DIVIDEN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2013-2016)

Jurnal Ecogen ◽

10.24036/jmpe.v1i2.4750 ◽

2018 ◽

Vol 1 (2) ◽

pp. 298

Author(s):

Puteri Prihatini ◽

Dessi Susanti

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Secondary Data ◽

Managerial Ownership ◽

Manufacturing Companies ◽

Investment Opportunity ◽

Financial Report ◽

Investment Opportunity Set ◽

Negative Effect ◽

Α Level

The purpose of this study is to analyze the influence of profitability, investment opportunity set, and managerial ownership on dividend policy. The population of this study consists of whole manufacturing companies that listed on Indonesian Stock Exchange (IDX) from 2013 to 2016 by using secondary data. The data have been collected from financial report of companies from Indonesian Stock Exchange (IDX) website and Indonesian Capital Market Directory (ICMD). In this study, the samples are obtained 21 companies out of 145 companies. Analytical method that is used is multiple regression analysis. The hypothesis is measured by using statistical t-test with α level of 5%. The results indicate that profitability gives negative effect but does not significant on dividend policy of manufacturing companies that listed on Indonesian Stock Exchange (IDX). Meanwhile, investment opportunity set and managerial ownership give positive effect and also significant on dividend policy of manufacturing companies that listed on Indonesian Stock Exchange (IDX).Keyword: profitability, investment opportunity set, managerial ownership, and dividend policy

Download Full-text

PERAN INVESTMENT OPPORTUNITY SET SEBAGAI PEMODERASI PENGARUH KINERJA KEUANGAN, GOODCORPORATE GOVERNANCE DAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN

Jurnal Akuntansi Trisakti ◽

10.25105/jat.v4i2.4842 ◽

2019 ◽

Vol 4 (2) ◽

pp. 85

Author(s):

Michael Anderson Sianipar ◽

Susi Dwi Mulyani

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Value ◽

Good Governance ◽

Stock Exchange ◽

Investment Opportunity ◽

Good Corporate Governance ◽

Investment Opportunity Set ◽

Corporate Social ◽

Positive Effect

Firm Values of manufacturing company in Indonesia is influenced by various factors of financial and non-financial that can be measured using financial ratios, good governance, and social responsibility practices in the company. The purpose of this study was to analyze the effect of financial performance proxied by Profitability and Solvability, Good Corporate Governance (GCG), and Corporate Social Responsibility (CSR) on the firm value,with Investment Opportunity set (IOS) as a moderating variable. The firm value in this study was proxied by Tobins’q.The population of this research is manufacturing companywith chemical industry subsectors listed in the Indonesia Stock Exchange (BEI) in 2013-2015. The sampling method used is purposive sampling and acquired 31 companies in this sample. The analytical method used is moderating regression analysis.Based on the results of hypotheses testing, there wasSolvability and IOS had positive effect on firm value, while Profitability, GCG, and CSR had no effect on the firm value. The use of a moderating variable Investment Opportunity Set (IOS) is not able to strengthen the influence of profitability, solvability, GCG and CSR on the firm value.

Download Full-text

Influence of Profitability, Investment Opportunity Set (Ios) Leverage and Dividend Policy on Firm Value in The L Service in Indonesia Stock Exchange

JURNAL TERAPAN MANAJEMEN DAN BISNIS ◽

10.26737/jtmb.v3i2.346 ◽

2017 ◽

Vol 3 (2) ◽

pp. 235

Author(s):

Khuzaini Khuzaini ◽

Dwi Wahyu Artiningsih ◽

Lina Paulina

Keyword(s):

Significant Influence ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Investment Opportunity ◽

Industrial Services ◽

Investment Opportunity Set

This research was aimed to analyze the significant influence of profitability, investment opportunity set (ios), leverage and dividend policy partially or simultaneously on firm value. The sample used in this research was Industrial Services in Indonesia Stock Exchange period 2013 to 2015 as many as 28 companies taken by using purposive sampling technique. Hypothesis testing of research using multiple linear regression analysis by SPSS 21 for windows programs. This research found that: (1) profitability has significant influence partially on firm value; (2) investment opportunity set (ios) has significant influence partially on firm value; (3) leverage has no significant influence partially on firm value; (3) the dividend policy has no significant influence partially on firm value; (5) profitability, investment opportunity set (ios), leverage and dividend policy have significant influence simultaneously on firm value with influence value of 46.7%.

Download Full-text