scholarly journals ASOSIASI ANTARA PERUBAHAN HARGA SAHAM DAN INVESTMENT OPPORTUNITY SET PERUSAHAAN MANUFAKTUR YANG LISTING DI BURSA EFEK INDONESIA

2018 ◽  
Vol 15 (1) ◽  
Author(s):  
Indah Martati
Keyword(s):  
Stock Market ◽  
Firm Value ◽  
Common Factor ◽  
Capital Expenditures ◽  
Pool Data ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financing Policy ◽  
Book Value ◽  
Investment Opportunity Set

This research is aimed at examining the relationship between the actual Stock return toward the investment opportunity set (IOS) as the growth proxy of manufacturing companies which listing at Indonesian Stock Market. The IOS proxies used are market to book value of equity (MBVE), market to book value of assets (MBVA), price earning ratio (PER), Firm Value to book value of property, plant and equipment (VPPE), ratio capital expenditures to book value of asset (CEBVA), and ratio capital expenditures to market value of asset (CEMVA).The value of each indicators analysed by using common factor analysis. The normality data is tested by using one sample kolmogorov smirnov test continued with correlation test non parametric correlation model Kendall’s tau b. The purposive sampling is used in this research for ten years observation (1998 – 2007) with pool data method. The number of sample used is 240 manufacturing companies that listing at Indonesian Stock Market. The result of the research show that the direct and indirect correlation only occurs partially toward  market to book value of assets (MBVA) proxy. It indicates that there is direct and indirect positive relation through firm realized growth  and financing policy intervening variable but  it does not occur to the  composite IOS  proxies. 

scholarly journals ASOSIASI ANTARA PERUBAHAN HARGA SAHAM DAN INVESTMENT OPPORTUNITY SET PERUSAHAAN MANUFAKTUR YANG LISTING DI BURSA EFEK INDONESIA

2017 ◽  
Vol 15 (1) ◽  
pp. 40
Author(s):  
Indah Martati
Keyword(s):  
Stock Market ◽  
Firm Value ◽  
Common Factor ◽  
Capital Expenditures ◽  
Pool Data ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financing Policy ◽  
Book Value ◽  
Investment Opportunity Set

This research is aimed at examining the relationship between the actual Stock return toward the investment opportunity set (IOS) as the growth proxy of manufacturing companies which listing at Indonesian Stock Market. The IOS proxies used are market to book value of equity (MBVE), market to book value of assets (MBVA), price earning ratio (PER), Firm Value to book value of property, plant and equipment (VPPE), ratio capital expenditures to book value of asset (CEBVA), and ratio capital expenditures to market value of asset (CEMVA).The value of each indicators analysed by using common factor analysis. The normality data is tested by using one sample kolmogorov smirnov test continued with correlation test non parametric correlation model Kendall’s tau b. The purposive sampling is used in this research for ten years observation (1998 – 2007) with pool data method. The number of sample used is 240 manufacturing companies that listing at Indonesian Stock Market. The result of the research show that the direct and indirect correlation only occurs partially toward  market to book value of assets (MBVA) proxy. It indicates that there is direct and indirect positive relation through firm realized growth  and financing policy intervening variable but  it does not occur to the  composite IOS  proxies.

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

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

<p class="Default" align="center"><strong><em>Abstract</em></strong><em></em></p><p class="Default"><em>The 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.</em></p>

scholarly journals PENGARUH INVESTMENT OPPORTUNITY SET, CORPORATE SOCIAL RESPONSIBILITY, DAN RISIKO BISNIS TERHADAP NILAI PERUSAHAAN

2021 ◽  
Vol 11 (2) ◽  
pp. 154
Author(s):  
Muhammad Fuad Alamsyah ◽  
Widyawati Malanua
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Capital Expenditure ◽  
Business Risk ◽  
Investment Opportunity ◽  
Book Value ◽  
Investment Opportunity Set ◽  
Value Equity ◽  
Corporate Social

This study aims to determine the effect of investment opportunity set, corporate social responsibility and business risk on firm value. Investment opportunity set is measured using market book value equity, capital expenditure to book value of assets and corporate social responsibility is measured by corporate social responsibility disclosure index and business risk is measured by business risk in banking sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2015-2019. the method of determining the sample using purposive sampling then obtained a sample of 39 companies. The data analysis technique used is multiple regression analysis. The results showed that the investment opportunity set consisting of market book value equity had a significant effect on firm value, capital expenditure to book value of assets had no significant effect on firm value, corporate social responsibility had a significant effect on firm value, and business risk had no effect on firm value.

scholarly journals PENGARUH IOS PADA NILAI PERUSAHAAN DENGAN KUALITAS LABA SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Putu Eka Nopiyani ◽  
Ni Made Wulan Sari Sanjaya ◽  
Ni Made Rianita
Keyword(s):  
Regression Analysis ◽  
Firm Value ◽  
Earnings Quality ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Purposive Sampling ◽  
Opportunity Sets ◽  
Analysis Technique ◽  
Investment Opportunity Set

ABSTRAKPenelitian ini dilakukan untuk mendapatkan bukti empiris mengenai pengaruh investment opportunity set pada nilai perusahaan dengan kualitas laba sebagai variabel moderasi. Metode yang digunakan untuk menentukan sampel pada penelitian ini adalah teknik purposive sampling, sehingga diperoleh 38 perusahaan manufaktur sebagai sampel. Teknik analisis data yang digunakan dalam penelitian ini adalah Moderated Regression Analysis (MRA) dengan bantuan aplikasi SPSS 21. Hasil penelitian ini menunjukkan bahwa investment opportunity set tidak berpengaruh pada nilai perusahaan. Kualitas laba mampu memperkuat pengaruh investment opportunity set pada nilai perusahaan. Kata kunci: investment opportunity set; kualitas laba; nilai perusahaan ABSTRACTThis research is conducted to obtain empirical evidence about the effect of investment opportunity set on firm value with earnings quality as moderation variable. The method used to determine the sample in this study is purposive sampling technique, so that obtained 38 manufacturing companies as a sample. Data analysis technique used in this research is Moderated Regression Analysis (MRA) with the help of SPSS 21 application. The results of this study indicate that investment opportunity set has no effect on firm value. The earnings of quality are able to strengthen the influence of investment opportunity sets on the value of the firm. Keywords: Investment Opportunity Set; Earnings Quality; Firm Value

scholarly journals The Influence of Corporate Governance and Investment Opportunity Set on Firm Value: CSR as Moderating Variable

2021 ◽  
Vol 6 (3) ◽  
pp. 1-8
Author(s):  
Weni Apriliana Weni ◽  
Yosi Yulia ◽  
Sigit Sanjaya
Keyword(s):  
Significant Relationship ◽  
Firm Value ◽  
Audit Committee ◽  
Total Population ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Analysis Technique ◽  
Investment Opportunity Set

AbstractThe object of this study is a manufacturing company listed on the Indonesia Stock Exchange for the period 2016-2020 with a total population of 196 companies. The sample of this research is 44 companies that meet the criteria based on purposive sampling. The analysis technique uses multiple linear regression.The results of this study there is a significant relationship between the independent board of commissioners on firm value. Institutional ownership has no effect on firm value. There is a significant relationship between the audit committee and the investment opportunity set on firm value. The results of other studies indicate that there is an influence of the CSR moderating variable between the independent board of commissioners' relationship to firm value. It is different with institutional ownership that has no effect on the value of the company which is moderated by CSR. There is a significant effect between the audit committee and the investment opportunity set on firm value moderated by CSR in manufacturing companies listed on the Indonesia Stock Exchange for the 2016-2020 period.Keywords: CSR, independent board of commissioners, investment opportunity set, institutional ownership. audit committee, firm value.

scholarly journals The Influence of Company Size, Company Growth, Price to Book Value, Investment Opportunity Set, and Operating Cash Flow Againts Price Earnings Ratio in Food and Beverage Sub Sector Manufacturing Companies Listed In BEI from 2015 To 2017

2021 ◽  
Vol 4 (2) ◽  
pp. 1882-1893
Author(s):  
Andini Nurwulandari
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Company Size ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Book Value ◽  
Investment Opportunity Set ◽  
Food And Beverage ◽  
Operating Cash Flow ◽  
Company Growth

This study aims to see how the Price Earning Ratio is affected by company size, growth, price to book value, investment opportunity set, and operating cash flow. The authors used panel data regression to analyze data from 2015 to 2017, 13 food and beverage firms were listed on the Indonesia Stock Exchange. According to the data that have been collected, company size, company growth, and price to book value all have a positive and significant effect on the Price Earning Ratio. Meanwhile, the Investment Opportunity Set and Operating Cash Flow have no impact on the Price Earning Ratio.

scholarly journals ANALISIS PENERAPAN TQM TERHADAP KINERJA MANAJERIAL PADA RUMAH SAKIT UMUM DI DENPASAR

2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Made Wahyu Adhiputra
Keyword(s):  
Firm Value ◽  
Earnings Quality ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Total Quality ◽  
Investment Opportunity ◽  
Opportunity Sets ◽  
Analysis Technique ◽  
Investment Opportunity Set ◽  
Sample Data

ABSTRAKPenelitian ini bertujuan untuk menganalisis hubungan antara penerapan Total Quality Management (TQM) dan kinerja manajerial pada organisasi rumah sakit umum di Kota Denpasar. Populasi dalam penelitian ini adalah seluruh tingkatan manajer baik manajer tingkat atas, menengah, dan bawah pada Rumah Sakit Umum di Denpasar. Alasan peneliti mengambil responden kepada tiap tingkatan manajer, karena pada seluruh tingkatan manajer tersebut menjadi lebih memiliki keterikatan kerjasama yang saling berhubungan untuk lebih meningkatkan, mengarahkan, dan mengembangkan perusahaan sehingga menjadi lebih baik lagi. Apabila TQM dapat diterapkan secara efektif, maka kinerja managerial juga akan meningkat. Sedangkan sistem pengukuran dan sistem penghargaannya adalah variabel moderating yang mempunyai kesatuan antara TQM dan kinerja managerial. Hasil dari penelitian menunjukkan bahwa penerapan TQM terhadap Kinerja Manajerial berpengaruh signifikansi t pada 0.023 < 0.05, mengindikasikan bahwa hipotesis pertama diterima. Kedua, interaksi penerapan TQM dan Sistem Pengukuran Kinerja terhadap Kinerja Manajerial berpengaruh signifikansi t pada 0.037 < 0.05, mengindikasikan bahwa hipotesis kedua diterima. Dan ketiga, interaksi penerapan TQM dan Sistem Penghargaan terhadap Kinerja Manajerial berpengaruh signifikansi t pada 0.042 < 0.05, mengindikasikan bahwa hipotesis ketiga diterima. Kata kunci: investment opportunity set; kualitas laba; nilai perusahaan ABSTRACTThis research is conducted to obtain empirical evidence about the effect of investment opportunity set on firm value with earnings quality as moderation variable. The method used to determine the sample in this study is purposive sampling technique, so that obtained 38 manufacturing companies as a sample. Data analysis technique used in this research is Moderated Regression Analysis (MRA) with the help of SPSS 21 application. The results of this study indicate that investment opportunity set has no effect on firm value. The earnings of quality are able to strengthen the influence of investment opportunity sets on the value of the firm. Keywords: Investment Opportunity Set; Earnings Quality; Firm Value

scholarly journals Pengaruh Investment Opportunity Set dan Free Cash Flow Pada Kebijakan Dividen dan Nilai Perusahaan

2017 ◽  
pp. 63
Author(s):  
I Gusti Ngurah Putu Adi Suartawan ◽  
Gerianta Wirawan Yasa
Keyword(s):  
Cash Flow ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Positive Effects ◽  
Investment Opportunity Set ◽  
Linear Regression Technique

This research is conducted to find out the effect of investment opportunity set and free cash flow towards dividend policy and its impacts on firm value of manufacturing companies registered in Indonesia Stock Exchange during the period of 2011-2013. The samples of this study are 25 manufacturing companies and they were selected by using purposive sampling method. The data is collected through non participants’ observation. Path analysis which is an extension of the multiple linear regression technique is used to analyze data. Based on the data analysis, it was found that, investment opportunity set has positive effects on dividend policy. It refuses the negative hypothesis, free cash flow has positive effects on dividend policy, investment opportunity set has positive effects on firm value, free cash flow has positive effects on firm value, dividend policy has positive effects on firm value, investment opportunity set has effects on firm value  through dividend  policy  and free  cash flow has no  effects on firm value  through  dividend   policy.  

scholarly journals Pengaruh Investment Opportunity Set (IOS), Kebijakan Dividen, Dan Opportunistic Behavior Terhadap Nilai Perusahaan

2019 ◽  
Vol 1 (3) ◽  
pp. 1392-1410
Author(s):  
Rika Amanda Amanda Putri ◽  
Mia Angelina Setiawan
Keyword(s):  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Multiple Linear Regression Analysis ◽  
Opportunistic Behavior ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Investment Opportunity Set ◽  
Negative Effect

The purposeof this study was to examine the effect of Investement Opportunity Set (IOS), dividend policy, and opportunistic behavior on firm value at Manufacturing Companies listed on Stock Exchange in 2015-2018. This study used secondary data from the company’s annual report. The samplimg method in this study used purposive sampling, the final sample obtained was 29 manufacturing companies listed on the Indonesia Stock Exchange in 2015-2018. The analysis in this study used multiple linear regression analysis. The results showed that the Investment Opportunity Set (IOS) used price proxy (MBVE) and investment proxy (CAPBVA) have a significant positive effect on firm value, while the dividen policy and opportunistic behavior have a negative effect on firm value but not significant.

scholarly journals Determination of Company's Value: A Study with Investment Opportunity as a Moderator Variable

2022 ◽  
Vol 05 (01) ◽  
Author(s):  
Irma Sari Permata ◽  
Keyword(s):  
Interest Rates ◽  
Cash Flow ◽  
Indirect Effect ◽  
Firm Value ◽  
Positive Relationship ◽  
Free Cash Flow ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Moderator Variable ◽  
Investment Opportunity Set

This research focuses on the state of a company's valuation, which is always changing. The utilized variables to estimate firm value include free cash flow and interest rates, both of which have a positive relationship with company's value. The second purpose is to investigate the current situation of investment opportunities in industrial companies that are similarly highly volatile. The availability of free cash flow indicates the interest rate has a positive relationship with the investment opportunity set. An explanatory research design is used in this study, which aims to examine the correlation between variables. The manufacturing companies that were listed on the Indonesia Stock Exchange between 2013 and 2018 are the focus of this study. Thus, data were collected from 612 units using a purposive sampling technique. The findings reveal that whereas free cash flow has a strong positive indirect effect on company value via mediating the investment opportunity set, interest rates have a negative and minor indirect effect on firm value via mediating the investment opportunity set.

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