scholarly journals EKSPLORASI DIVIDEND SMOOTHING DAN BOARD DIVERSTY PADA NILAI PERUSAHAAN TERDAFTAR DI BURSA EFEK INDONESIA

2020 ◽  
pp. 41
Author(s):  
NI Wayan Yuniasih ◽  
Ni Putu Ayu Kusumawati
Keyword(s):  
Stock Prices ◽  
Firm Value ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Free Cash Flow ◽  
Company Size ◽  
Board Diversity ◽  
Public Companies ◽  
Dividend Smoothing ◽  
Negative Effect

This study aims to test the signaling effect of dividend smoothing policies and board diversity in public companies in Indonesia. Board diversity in this study is seen from the gender diversity and nationality of members of the board of directors and commissioners. Public companies are chosen because investor responses can be reflected in stock prices. To get valid results, this study adds company size and industry type as control variables. This is to avoid differences in research results due to differences in company size and type of industry in the Indonesian capital market. This research was conducted on 125 companies listed on the Indonesia Stock Exchange during the 2014-2016 periods. Samples were selected with several criteria, namely the company distributing dividends during the observation period and have complete data in accordance with research needs. Hypothesis testing will be carried out by the multiple regression method that is preceded by testing the classical assumptions. The test results found that dividend smoothing, gender, and company size had a positive effect on firm value. On the other hand, the type of industry has a negative effect on firm value. Only one variable, namely the presence of foreign board members does not affect the value of the company. If seen from the adjusted R2 value of 0.159, all these variables are only able to explain 15.9% of the company's value variables. This means that there are other variables that also affect the value of the company that are not included in this study. Therefore further research can add other variables that might affect the value of the company such as corporate social responsibility or free cash flow.

scholarly journals Pengaruh ukuran perusahaan dan leverage terhadap nilai perusahaan dengan profitabilitas sebagai variabel moderasi

2021 ◽  
Vol 8 (2) ◽  
Author(s):  
Siwi Nur Khotimah ◽  
Rita Indah Mustikowati ◽  
Ati Retna Sari
Keyword(s):  
Business Strategy ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Company Size ◽  
Company Value ◽  
Property Companies ◽  
Negative Effect ◽  
Independent Variable ◽  
A Company

This study aims to examine and explain the effect of company size and leverage on firm value with profitability as a moderating variable in Real Estate and Property companies listed on the Indonesia Stock Exchange in the period 2016-2018. This type of research is explanatory research, testing classical assumptions, and analyzed using a moderated regression analysis, and using the t test. The number of samples is 32 companies, and the sampling method used is purposive sampling. This research variable consists of company size and leverage as an independent variable, company value as the dependent variable, and profitability as a moderating variable. The analysis showed that partially company size and leverage had no significant effect on firm value, profitability had a negative effect on firm value and profitability weakened the effect of company size on firm value and profitability strengthened the effect of leverage on firm value. In this study, it can provide implications for a company to consider factors of company size, leverage, and profitability, and can also be used as a reference by other companies in business strategy, understand aspects of the industry they are involved in, and pay more attention to the development of the environment that can affect the company's business so that it can increase the value of the company.

scholarly journals Pengaruh Board Diversity Pada Nilai Perusahaan Dalam Perspektif Corporate Governance

2019 ◽  
pp. 2070 ◽  
Author(s):  
Ni Luh Putu Purna Yogiswari ◽  
I Dewa Nyoman Badera
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Educational Background ◽  
Manufacturing Companies ◽  
Outside Directors ◽  
Board Diversity ◽  
Chemical Manufacturing ◽  
Nationality Diversity

Board composition is one particular issue regarding corporate governance. This study aims to find empirical evidence regarding the effect of board diversity proxied by gender diversity, nationality diversity, educational background, and the proportion of outside directors on firm value. This research was conducted in basic industrial and chemical manufacturing companies listed on the Indonesia Stock Exchange with an observation period of 3 years, those of from 2015-2017. The method of determining the sample uses a purposive sampling. The sample of this study amounted to 39 companies with a total of 117 samples. Based on the results of the analysis, it can be concluded that gender diversity and the proportion of outside directors have no effect on firm value while there is a positive effect between nationality diversity and educational background on firm value. Keywords: Board diversity, corporate governance, and firm value.

scholarly journals The effect of the board diversity on firm performance: An empirical study on the UK

2021 ◽  
Vol 18 (3, special issue) ◽  
pp. 337-347
Author(s):  
Rehab EmadEldeen ◽  
Ahmed F. Elbayoumi ◽  
Mohamed A. K. Basuony ◽  
Ehab K. A. Mohamed
Keyword(s):  
Firm Performance ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Cross Sectional ◽  
Board Diversity ◽  
Age Diversity ◽  
The Board Of Directors ◽  
Negative Effect ◽  
The Uk ◽  
Positive Effect

This study aims at filling existing research by examining the effect of board composition specially board diversity on firm performance using cross-sectional data from London Stock Exchange (FTSE 350) of non-financial companies with a total observations 3961 companies for the years 2000–2016. To the best of our knowledge, the contribution of this paper is to examine the effect of board diversity (age, gender, education, and nationality) of FTSE 100 and FTSE 250 on firm performance. Our results indicate that age diversity has a negative effect on firm performance, which means that young board members enhance and increase firm performance. Furthermore, education diversity has a negative effect on firm performance. On the other hand, gender diversity has positive effect on firm performance, so if companies increase the number of females in the board of directors, firm performance will increase. Ultimately, our result reveals that nationality diversity has a positive effect on firm performance.

scholarly journals Effect of Capital Structure, Company Size and Profitability on the Stock Price of Food and Beverage Companies Listed on the Indonesia Stock Exchange

2016 ◽  
Vol 8 (1) ◽  
pp. 23-29 ◽  
Author(s):  
Sitti Murniati
Keyword(s):  
Capital Structure ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Company Size ◽  
Significant Positive Effect ◽  
Net Profit ◽  
Food And Beverage ◽  
Negative Effect ◽  
Positive Effect

The purpose of this study was to analyze the effect of capital structure proxy for debt to asset ratio (DAR) and the debt to equity ratio (DER), company size and profitability are proxied by return on assets (ROA), return on equity (ROE) and net profit margin (NPM) to the stock price on the company's Food and Beverage listed on the Indonesia Stock Exchange. This study uses Associative approach. The population in this study is the Food and Beverage companies listed in Indonesia Stock Exchange year period 2011 to 2014. Sampling method used is purposive sampling and the amount of samples obtained is 11 companies with 44 observations. Hypotheses were tested using multiple regression analysis. Results of the study were 1) capital structure proxy for debt to asset ratio (DAR) significant negative effect on stock prices, this means that if a decline in the value of DAR, the stock price will rise, 2) capital structure proxy for debt to equity ratio (DER) significant positive effect on stock prices, it means that the higher the value of DER then be followed by a decrease in stock prices, 3) The company size significant positive effect on stock prices, this suggests that the relationship between the SIZE with stock prices in the same direction, if SIZE increases, the stock price will increase, 4) profitability is proxied by return on assets (ROA) significant positive effect on stock prices, this means that the assets of the company to make a profit can affect stock prices, 5) profitability proxied with a return on equity (ROE) significant negative effect, this means that if a decline in ROE it will be followed by a decrease in stock prices, and 6) Profitability which is proxied by net profit margin (NPM) significant negative effect on stock prices, this means that while the net profit increased, the total sales will rise this is due to the high costs incurred by the company so that NPM has no effect on stock prices.

scholarly journals Boards’ Gender Diversity and Firms’ Financial and Ethical Performance in Pakistan: A Comparative Analysis

2020 ◽  
Vol 10 (3) ◽  
pp. 255
Author(s):  
Hafiz Muhammad Awais ◽  
Dr. Danish Ahmed Siddiqui
Keyword(s):  
Comparative Analysis ◽  
Performance Measures ◽  
Firm Value ◽  
Financial Risk ◽  
Gender Diversity ◽  
Corporate Boards ◽  
Female Representation ◽  
Board Diversity ◽  
Negative Effect ◽  
Board Gender Diversity

Board diversity has lately being a heavily contested topic of research. Women, having a unique pool of resources and human capital, bring unique and diverse skills to the board that could improve board performance which positively impacts firm value. This study aims to investigate board gender diversity and its impact on firms’ performance in Pakistan. More specifically, this study compares different performance characteristic of firms with and without gender diversity in boards. We also analyzed the effect of women on board (WOB) on different performance measures in the presence of control variables. These measures included Return to assets, equity and sales, TOBIN Q, and Ethical and Social Compliance (ESCC). For this, panel data of 4 years from 2015 to 2018 were collected from 100 companies, and ANOVA and regression analysis were performed. The comparative analysis showed that non-women component has a significantly higher ROA than women, whereas ROE is higher for women. Moreover, non-women board companies seem to take a higher financial risk by taking more leverage. Surprisingly, the ESCC factor seems to be significantly higher for non-women board companies showing better social compliance. Evidence from regression found remains inconclusive. In fact, the performance measures like Tobin Q, and ROA seems to be negatively affected by WOB, whereas ROE was positively and significantly affected. ESCC seems to have a strong and positive effect on Tobin Q in companies with WOB, as well as ROA in overall companies. Evidence also suggested that WOB also seems to have a negative effect on ESCC. Hence, in the case of Pakistan, the findings remained inconclusive because women representation on board is not enough to have an influencing role in the board. The size of the female representation on the board needs to be sufficiently large to have an influencing role on corporate boards.

scholarly journals PENGARUH PROFITABILITAS, LIKUIDITAS, KEPEMILIKAN INSTITUSIONAL DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 8 (10) ◽  
pp. 6099
Author(s):  
Linda Safitri Dewi ◽  
Nyoman Abundanti
Keyword(s):  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Institutional Ownership ◽  
Multiple Linear Regression Analysis ◽  
Managerial Ownership ◽  
Public Companies ◽  
Technical Data ◽  
Real Estate Sector ◽  
Negative Effect

The main purpose of companies that have gone public (companies whose shares are listed on the Indonesia Stock Exchange) is to generate profits to increase the value of the company. This study aims to determine the effect of profitability, liquidity, institutional ownership, and managerial ownership on firm value. This research was conducted on the property and real estate sector which was listed on the Indonesia Stock Exchange for the period 2014-2017, with a sample of 11 companies. Data collection is done by purposive sampling method. Technical data analysis in this study uses multiple linear regression analysis. Based on the analysis obtained results that profitability and managerial ownership have a positive and significant effect on firm value, while liquidity and institutional ownership have a negative effect on firm value. Keywords: firm value; profitability; liquidity; institutional ownership; managerial ownership  

scholarly journals PENGARUH RASIO FUNDAMENTAL TERHADAP NILAI PERUSAHAAN DENGAN HARGA SAHAM SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN SUBSEKTOR BATUBARA YANG TERDAPAT DI BEI TAHUN 2017 - 2019

2021 ◽  
Vol 12 (01) ◽  
pp. 39-48
Author(s):  
Barlia Annis Syahzuni
Keyword(s):  
Stock Prices ◽  
Firm Value ◽  
Stock Price ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Reports ◽  
Return On Equity ◽  
Negative Effect ◽  
Equity Ratio ◽  
The Relationship

This research aims to determine empirically the effect of the company's fundamental ratio which in this study is proxied by return on equity (ROE), current ratio (CR), and debt to equity ratio (DER) on the value of the company which is measured using price earning ratio (PER) and also to see whether stock prices affect this relationship. The coal sub-sector companies listed on the Indonesia Stock Exchange for the period 2017 - 2019 are the population chosen in this study. Sampling was done by purposive sampling, obtained 11 companies in the study period that met the data collection criteria, so that the total financial reports collected were 33 audited financial reports. The type of data is secondary data obtained from the official website www.idx.co.id. The analysis method used is multiple regression analysis. The results shown in this study are partially ROE has a positive effect and DER has a negative effect on stock prices, while CR has no effect on stock prices. Simultaneously, the three fundamental ratios have a significant effect on stock prices. Either partially or simultaneously ROE, CR, and DER have no effect on firm value. This study shows that stock prices have a significant effect on firm value, but stock prices are not an intervening variable in seeing the relationship between fundamental ratios and firm value. Keywords: Fundamental ratio, stock price, firm value

scholarly journals Pengaruh Keputusan Pendanaan, Keputusan Investasi, Kebijakan Dividen, Dan Arus Kas Bebas Terhadap Nilai Perusahaan

2020 ◽  
Vol 8 (3) ◽  
pp. 263-276
Author(s):  
Muhammad Fadly Bahrun ◽  
Tifah Tifah ◽  
Amrie Firmansyah
Keyword(s):  
Cash Flow ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Investment Decisions ◽  
Total Sample ◽  
Multiple Linear Regression Analysis ◽  
Free Cash Flow ◽  
Dividend Policies ◽  
Negative Effect

This study examines the effect of funding decisions, investment decisions, dividend policies, and free cash flow on firm value. The samples used in this study are consumer goods industry companies listed on the Indonesia Stock Exchange (IDX) during 2016-2019. Based on purposive sampling, the selected sample is 34 companies, so that the total sample is 136 observations. Hypothesis testing is carried out using multiple linear regression analysis of panel data. The test results show that funding decisions positively affect firm value, while investment decisions do not affect firm value. This study also shows that dividend policy and free cash flow have a negative effect on firm value.

scholarly journals PENGARUH PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING (STUDI PADA PERUSAHAAN ANEKA INDUSTRI YANG TERDAFTAR DI BEI 2012-2019)

2021 ◽  
Vol 15 (2) ◽  
pp. 15-28
Author(s):  
Fitri Diana Tri Anisa ◽  
Indra Siswanti
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
The Other ◽  
Direct Result ◽  
Company Size ◽  
Significant Positive Effect ◽  
Negative Effect ◽  
The Impact ◽  
Positive Effect

The purpose of the research is to obtain empirical evidence about the impact of profitability, company size , capital structure on firm value. And the other purpose of this research too is to determine the effect of profitability, company size on firm value mediated by capital structure.  The sample in this research is manufacturing company on Miscellaneous industry sector which listed in Indonesia Stock Exchange during the period of 2012 –2019. With using  purposive sampling data this research got  twelve companies as sample research. The source of the data of this research was conducted from annual report and financial report.This research is using quantitative approach with path analysis method and using SmartPLS 3.0 as analyisis tool.The result in this research has two kind of result,for direct result found that profitabilty has significant positive effect on firm value, company size has significant positive effect on firm value, capital structure has significant negative effect to firmvalue. And the result for indirect result are Capital structure is able to mediate profitability on firm value. But on the other hand capital structure is not able to mediate company size on firm value.

scholarly journals ANALYSIS OF MARKET CAPITALIZATION AND FUNDAMENTAL FACTORS ON FIRM VALUE

2020 ◽  
Vol 1 (1) ◽  
pp. 59-71
Author(s):  
Irma Sari Permata ◽  
Fatima Tuzzahara Alkaf
Keyword(s):  
Interest Rates ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Free Cash Flow ◽  
Company Size ◽  
Manufacturing Companies ◽  
Market Capitalization ◽  
Macro Variables

The purpose of this study is to analyze the effect of market capitalization and fundamental factors on the value of manufacturing companies listed on the Indonesia Stock Exchange from 2014 to 2018. The variables utilized in this study are market capitalization, variables of micro-company such as company size, free cash flow, dividend policy (DPR), and macro variables, namely interest rates to the value of the company (Tobin'Q). Therefore it can be to assess the development of good company conditions. The method of this research is explanatory research and samples were taken by purposive sampling from a population of manufacturing companies that satisfy the sample criteria. Furthermore, the analysis of this research conducted multiple linear regression analysis.

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