Perngaruh Kinerja Keuangan Dan Intellectual Capital Terhadap Nilai Perusahaan Yang Terdaftar di BEI

The purpose of this study was to determine the effect of profitability, leverage, and intellectual capital on the value of the firm of the consumers goods sectors listed in indonesian stock exchange in the periode of 2014-2018. The proxy used to measure firm value is Tobin’s Q method, profitability is measured by ROA ratio, leverage is measured by DER ratio, and intellectual capital measured by VAHU ratio. The research method used causal research using quantitative data and purposive sampling techniques. The research sampel consisted of 11 companies with 55 observational data. Data analysis was performed using a panel regression model using E-Views 9.0 software. The results showed profitability, leverage, and intellectual capital significantly influence the value on the value of the firm in food and beverages companies in Indonesia stock exchange.Tujuan dari penelitian ini adalah untuk mengetahui pengaruh profitabilitas, leverage, dan intellectual capital terhadap nilai perusahaan pada perusahaan F&B yang terdaftar di Bursa Efek Indonesia pada periode 2014-2018. Proksi yang digunakan untuk mengukur Nilai perusahaan adalah metode Tobin’s Q, profitabilitas diukur dengan ROA, leverage diukur dengan DER, intellectual capital diukur dengan VAHU. Penelitian ini merupakan penelitian kausal dengan data kuantitatif dan metode purposive sampling. Sampel penelitian adalah 11 perusahaan dengan 55 data observasi selama periode 2014- 2018. Data dianalisis dengan model regresi data panel menggunakan perangkat lunak EViews 9.0. Hasil penelitian ini menunjukan profitabilitas, leverage, dan intellectual capital secara parsial memiliki pengaruh yang signifikan terhadap nilai perusahaan pada perusahaan food and beverages yang terdaftar di Bursa Efek Indonesia periode 2014- 2018.

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Pengaruh Kebijakan Dividen, Kebijakan Utang, Profitabilitas, Kepemilikan Manajerial, dan Komite Audit terhadap Nilai Perusahaan

JURNAL ONLINE INSAN AKUNTAN ◽

10.51211/joia.v5i1.1317 ◽

2020 ◽

Vol 5 (1) ◽

pp. 41

Author(s):

Siti Siti ◽

Ahalik Ahalik

Keyword(s):

Firm Value ◽

Audit Committee ◽

Dividend Policy ◽

Stock Exchange ◽

Managerial Ownership ◽

Tobin’S Q ◽

Manufacturing Companies ◽

Tobin's Q ◽

Purposive Sampling ◽

Debt Policy

Abstrak:Penelitian ini dilakukan dengan tujuan untuk mengetahui pengaruh kebijakan dividen, kebijakan utang, profitabilitas, kepemilikan manajerial, dan komite audit terhadap nilai perusahaan. Teknik pemilihan sampel penelitian ini menggunakan purposive sampling. Sampel dalam penelitian ini adalah sebanyak 75 perusahaan manufaktur yang terdaftar di BEI periode 2013-2017. Data penelitian ini menggunakan data dari laporan keuangan dari setiap perusahaan sampel. Analisis data penelitian ini menggunakan analisis regresi berganda dengan pemakaian SPSS 24. Nilai perusahaan dalam penelitian ini diukur dengan rasio Tobin’s Q. Hasil penelitian ini menunjukkan kebijakan dividen, kebijakan utang, profitabilitas, kepemilikan manajerial dan komite audit secara bersama-sama berpengaruh terhadap nilai perusahaan. Variabel kebijakan dividen (DPR), kebijakan utang (DER), kepemilikan manajerial (KM) dan komite audit (KA) tidak berpengaruh terhadap nilai perusahaan, sedangkan profitabilitas (ROE) berpengaruh positif signifikan terhadap nilai perusahaan. Kata Kunci:kebijakan dividen, kebijakan utang, nilai perusahaan, profitabilitas. Abstract:This research was conducted with the aim to determine the effect of dividend policy, debt policy, profitability, managerial ownership, and audit committee on firm value. The technique of selecting this research sample using purposive sampling. The sample in this study were 75 manufacturing companies listed on the Stock Exchange in the period 2013-2017. This research data uses data from financial statements from each sample company. The data analysis of this study uses multiple regression analysis with the use of SPSS 24. The company value in this study is measured by Tobin’s Q ratio. The results of this study indicate dividend policy, debt policy, profitability, managerial ownership and audit committee jointly influence the firm value. The variable dividend policy (DPR), debt policy (DER), managerial ownership (KM) and audit committee (KA) did not affect the value of the company, while profitability (ROE) had a significant positive effect on firm value. Keywords:dividend policy, debt policy, firm value, profitability

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DAMPAK INTELLECTUAL CAPITAL TERHADAP NILAI PASAR PERUSAHAAN DENGAN RETURN ON ASSET SEBAGAI VARIABEL INTERVENING

Jurnal Akuntansi Bisnis ◽

10.30813/jab.v11i1.1085 ◽

2018 ◽

Vol 11 (1) ◽

Author(s):

Dennis Sutandar ◽

Prima Apriwenni

Keyword(s):

Significant Influence ◽

Intellectual Capital ◽

Firm Value ◽

Stock Exchange ◽

Value Added ◽

Intangible Asset ◽

Observation Data ◽

Tobin’S Q ◽

Return On Assets ◽

Tobin's Q

Nowadays, intellectual capital become a very valuable asset on business. Intellectual Capital is an intangible asset that can create value added and competitive advatage for the company. The value added and competitive advatage will increase investors trust that can cause the raising value of the firm. Intellectual capital was measured by Vallue Added Intellectual Capital that consist of human capital, structural capital, and customer capital. The increasing profit was measured by return on asset (ROA). ROA indicates the company abilities to generate earnings (profitability). The firm value was measured by Tobin’s Q. The population in this research using a manufacturing company, especially infrastructure, utility, and transportation listed in Indonesia Stock Exchange during the period 2013-2015. Based on purposive sampling method, 19 samples were obtained, so there are 57 of observation data. The analysis techniques use are multiple linear regresion and path analysis. The result of this research showed that: (1) Intellectual capital has a positive and significant influence toward return on assets. (2) Intellectual capital has a positive and significant influence toward firm value. (3) Return on assets has a positive and significant influance on firm value. (4) Intellectual capital has a positive and significant influence toward firm value through return on assets. Keyword : Intellectual Capital, Return on Asset, Firm Value, Tobin’s Q

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PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN PERHOTELAN DAN PARIWISATA DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING

Jurnal Ilmiah Bisnis dan Ekonomi Asia ◽

10.32812/jibeka.v14i1.153 ◽

2020 ◽

Vol 14 (1) ◽

pp. 46-57

Author(s):

Robiyanto Robiyanto ◽

Ilma Nafiah ◽

Harijono Harijono ◽

Komala Inggarwati

Keyword(s):

Capital Structure ◽

Firm Value ◽

Stock Exchange ◽

Panel Regression ◽

Tobin’S Q ◽

Tobin's Q ◽

Insignificant Effect ◽

Company Value ◽

Research Show ◽

The Capital Structure

This study aims to examine the effect of profitability on firm value with capital structure as an intervening variable. The population of this study is hotel, restaurant and tourism firms listed on the Indonesia Stock Exchange (IDX), during 2012-2016, with 75 samples selected by using purposive sampling. Analysis of this study using panel regression analysis. This study of the research show that (1) profitability as measured by ROA and ROE has a negative and significant effect on firm value as measured by PBV and profitability as measured by ROA and ROE has a negative and insignificant effect on firm value as measured by Tobin's Q, (2) profitability has a negative and significant effect on the capital structure, (3) the capital structure as measured by DER has a positive and significant effect on firm value as measured by PVB and the capital structure as measured by DER has a positive and insignificant effect on company value as measured by Tobin's Q and (4) capital structure as an intervening variable negatively influences the effect of profitability on firm value.

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PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL PEMODERASI PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BEI

Klabat Accounting Review ◽

10.31154/kar.v1i1.457.56-70 ◽

2020 ◽

Vol 1 (1) ◽

pp. 56

Author(s):

Kheisy Kharenia Benne ◽

Petrus Moningka

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Value ◽

Information Disclosure ◽

Stock Exchange ◽

Tobin’S Q ◽

Tobin's Q ◽

Purposive Sampling ◽

Corporate Social ◽

The Relationship

This study aims to analyze the effect of CSR information disclosure measured by Corporate-Social-Responsibility-Index according to GRI G4 on firm value measured by Tobin’s Q. In addition, this study aims to analyze whether profitability measured by return on asset (ROA) can strengthen the relationship between disclosure of CSR and firm value. The population of this study is mining sector companies listed at Indonesia Stock Exchange for the period of 2015-2017. Samples were determined by purposive sampling method and obtained 35 companies as the research samples. This study uses secondary data and multiple regression analysis as the data analysis. The results of this study show that: (1) CSR information disclosure has positive significant effect to firm value, (2) Profitability can strengthen the relationship between disclosure of CSR and firm value. Keywords: Corporate social responsibility, firm value, profitability Penelitian ini bertujuan untuk menganalisa pengaruh pengungkapan CSR yang diukur dengan Corporate-Social-Responsibility-Index menurut GRI G4 terhadap nilai perusahaan yang diukur menggunakan Tobin’s Q. Selain itu, penelitian ini juga bertujuan untuk menganalisa apakah profitabilitas yang diukur dengan return on assets (ROA) dapat memperkuat hubungan antara pengungkapan CSR dan nilai perusahaan. Populasi dalam penelitian ini adalah perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015-2017. Sampel ditentukan berdasarkan metode purposive sampling, sehingga diperoleh 35 perusahaan sebagai sampel penelitian. Data yang digunakan dalam penelitian ini berupa data sekunder. Metode analisis yang digunakan adalah analisis regresi berganda. Hasil penelitian menunjukkan bahwa: (1) Pengungkapan CSR berpengaruh signifikan positif terhadap nilai perusahaan, (2) Profitabilitas dapat memperkuat hubungan antara pengungkapan CSR dan nilai perusahaan. Kata kunci: Corporate social responsibility, nilai perusahaan, profitabilitas

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Determinants of Accounting and Market-based Performance Measures – Case of Croatian Non-financial Listed Companies

SHS Web of Conferences ◽

10.1051/shsconf/20219202049 ◽

2021 ◽

Vol 92 ◽

pp. 02049

Author(s):

Tomislava Pavic Kramaric ◽

Marko Miletic ◽

Damir Piplica

Keyword(s):

Performance Measures ◽

Firm Value ◽

Positive Impact ◽

Stock Exchange ◽

Value Added ◽

Listed Companies ◽

Performance Measure ◽

Tobin’S Q ◽

Tobin's Q ◽

Measure Of Performance

Research background: Profitability and the factors that determine it have always intrigued the scholars. Despite the large number of studies dealing with this topic at the international level, this paper sheds a new light on the issue since it deals with the listed companies in an emerging economy confronting two performance measures. Purpose of the article: The aim of this paper is to provide evidence on the performance of Croatian non-financial firms listed on the Zagreb Stock Exchange (ZSE). Methods: The analysis encompassed firms that operated in the 2015 – 2019 period. For this purpose, the authors confronted two performance measures, i.e. accounting-based performance measure represented with return on assets (ROA) whereas Tobin’s Q stands for the market-based measure of performance or firm value. Independent variables that served as potential determinants of listed companies’ performance include inventories management, productivity, liquidity measured with both current and quick ratio, and size calculated on the basis of total assets, and sales. Findings & Value added: After employing static panel analysis, the results reveal statistically significant influence of size variable based on assets in both models though it takes negative sign in the model where performance is measured with Tobin’s Q, whereas its positive impact on performance is recorded in ROA model. Furthermore, size based on total sales also positively affects performance when measured with ROA.

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Analisis Pengaruh Profitabilitas, Ukuran Perusahaan, Keputusan Investasi, dan Kebijakan Utang Terhadap Nilai Perusahaan

Jurnal Inspirasi Bisnis dan Manajemen ◽

10.33603/jibm.v3i1.2079 ◽

2019 ◽

Vol 3 (1) ◽

pp. 77

Author(s):

Lasmanita Rajagukguk ◽

Valencia Ariesta ◽

Yunus Pakpahan

Keyword(s):

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Investment Decisions ◽

Secondary Data ◽

Tobin’S Q ◽

Manufacturing Companies ◽

Process Data ◽

Tobin's Q ◽

Debt Policy

Abstract: This study aims to analyze the effect of profitability, firm size, investment decisions, and debt policy on firm value. The research method used is quantitative research. In this study, company value is measured using Tobin's Q. The data in this study are secondary data in the form of annual financial statements of audited manufacturing companies and published as listed on the Indonesia Stock Exchange for the period of 2012 to 2016. The statistical method used is analysis of multiple linear regression using the SPSS version 22.00 program to process data. The study found that profitability, company size, and debt policy significantly influence the value of the company, while investment decisions do not affect the value of the company. Keywords: firm value, profitability, firm size, debt policy, investment decisions. Abstrak. Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, ukuran perusahaan, keputusan investasi, dan kebijakan utang terhadap nilai perusahaan.Metode penelitian yang digunakan adalah penelitian kuantitatif. Dalam penelitian ini, nilai perusahaan diukur dengan menggunakan Tobin’s Q. Data dalam penelitian ini adalah data sekunder berupa laporan keuangan tahunan perusahaan manufaktur yang telah diaudit dan dipublikasikan yang tercatat di Bursa Efek Indonesia periode tahun 2012 sampai dengan tahun 2016. Metode statistik yang digunakan adalah analisis regresi linear berganda dengan menggunakan program SPSS versi 22.00 untuk mengolah data. Penelitian menemukan bahwa profitabilitas, ukuran perusahaan, dan kebijakan utang berpengaruh signifikan terhadap nilai perusahaan, sedangkan keputusan investasi tidak berpengaruh terhadap nilai perusahaan. Kata kunci: Nilai perusahaan, profitabilitas, ukuran perusahaan, kebijakan utang, keputusan investasi.

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Karakteristik CEO Dan Kinerja Perusahaan Non-Keuangan Yang Teraftar Di Bursa Efek Indonesia

Jurnal Manajemen dan Bisnis Indonesia ◽

10.31843/jmbi.v5i3.169 ◽

2018 ◽

Vol 5 (3) ◽

pp. 299-314

Author(s):

I Made Sudana ◽

Elka Dwiputri

Keyword(s):

Firm Performance ◽

Stock Exchange ◽

Tobin’S Q ◽

Tobin's Q ◽

Purposive Sampling ◽

Ceo Tenure ◽

Analysis Technique ◽

Financial Firm ◽

Ceo Characteristics

The purpose from this research is to test the effect from CEO characteristics towards firm performance. CEO characteristics was proxied with founder CEO, ownership, tenure, and education. Firm performance was proxied with Tobin’s Q. The sample from this research are every non-financial firm that have been listed in Indonesian Stock Exchange from 2010 – 2015 period. The method from this research is purposive sampling with analysis technique model multiple linier regression. The result from this research showed that founder CEO, CEO ownership, CEO tenure have a positive significant effect towards firm’s performance or Tobin’s Q. Keywords : CEO Characteristics, Firm Performance

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APAKAH RASIO KEUANGAN BERDAMPAK PADA NILAI PERUSAHAAN PERKEBUNAN DI BEI?

JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) ◽

10.34204/jiafe.v5i1.1482 ◽

2019 ◽

Vol 5 (1) ◽

pp. 123-130

Author(s):

Yefni Yefni

Keyword(s):

Linear Regression ◽

Multiple Linear Regression ◽

Firm Value ◽

Sampling Method ◽

Stock Exchange ◽

Financial Ratios ◽

Tobin's Q ◽

Purposive Sampling ◽

Regression Test ◽

A Company

This study aims to identify the effect of financial ratios, in the form of profitability (ROA), liquidity (CR), and solvability (DER) on firm value. The value of the company was measured using Tobin’s Q. The population of this study were all of the plantation companies listed on the Indonesian Stock Exchange during the 2014-2018. Next, the sample was selected using purposive sampling method. The data in this study were analyzed using multiple linear regression test. The results of this study indicate that of all the variables studied, only ROA and CR have a significant effect on firm value. This shows that profitability and liquidity are the main focus of investors so that investors will pay more attention to these two variables. When a company is profitable and liquid, investors will be interested in investing so that the value of the company will increase.

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THE INFLUENCE OF DIVIDEND POLICY, DEBT POLICY, INDEPENDENT COMMISSIONER, AND INSTITUTIONAL OWNERSHIP ON THE FIRM VALUE WITH GROWTH OPPORTUNITIES AS MODERATOR VARIABLES (Study on Non-Financial Companies Listed on IDX in the Period of Years of 2012-2015)

JURNAL BISNIS STRATEGI ◽

10.14710/jbs.26.2.146-162 ◽

2018 ◽

Vol 26 (2) ◽

pp. 146 ◽

Cited By ~ 1

Author(s):

Lia Setiyawati ◽

Sugeng Wahyudi ◽

Wisnu Mawardi

Keyword(s):

Firm Value ◽

Stock Exchange ◽

Control Variable ◽

Market Value ◽

Sampling Technique ◽

Institutional Ownership ◽

Good Growth ◽

Tobin’S Q ◽

Manufacturing Companies ◽

Tobin's Q

Tobin's q is the ratio of market value of equity plus the market value of debt to total assets. This ratio measures the value provided by financial markets for any management and organization as a growing company. Tobin's q also shows how far a company is able to create its value relative to the amount of capital invested. The greater the value of Tobin's q indicates that the company has good growth prospect. This study aimed at examining the influence of Dividend Payout Ratio (DER), Independent Commissioner (KI) and Institutional Ownership (INST) on Tobin's q with Size and Return on Investment (ROI) as control variable and Market to Book Value (MBV) as a moderating variable.The population in this study is all manufacturing companies listed on Indonesia Stock Exchange in the period of 2012-2015. The sampling technique used purposive sampling and obtained 28 companies becoming the research sample. The analysis technique used in this research was multiple regression analysis using SPSS where the data, previously, had been tested using classical assumption tests like normality, multicollinearity, and autocorrelation tests.

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PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN IMPLEMENTASI CSR SEBAGAI VARIABEL PEMODERASI

IQTISHODUNA ◽

10.18860/iq.v10i1.3579 ◽

2016 ◽

Vol 10 (1) ◽

pp. 1-7

Author(s):

Misbahul Munir ◽

Eka Sevia Suryandari ◽

Anik Mahmudah

Keyword(s):

Corporate Governance ◽

Firm Value ◽

Audit Committee ◽

Stock Exchange ◽

Analytical Models ◽

Tobin’S Q ◽

Tobin's Q ◽

Good Corporate Governance ◽

Normality Test ◽

Corporate Social

Corporate Governance is a system that regulates and controls the company that is expected toprovide and enhance the company’s value to its shareholders. This study aims to determine the effect of theimplementation of good corporate governance (GCG) to the value of state-owned banks companies listings inIndonesia stock exchange (IDX) with the implementation of corporate social responsibility (CSR) as a moderatingvariable. This research is a quantitative, analytical models using classical assumption test consists of a testheterokedastisitas, non-autocorrelation test and normality test, followed by analysis using regression analysismoderation. The results showed that, application of good corporate governance is proxied by ManagerialOwnership (X1), Proportion of Independent Commissioner (X2), Audit Committee (X3), Independence of theAudit Committee (X4), Frequency of Audit Committee Meetings (X5) and the frequency of Board Meeting(X5) simultaneously significant effect on firm value (Tobin’s Q). With the results of R Square of 61.1% meansthat the variable Tobin’s Q (Y) in the six variables explained by the moderating variable of Corporate SocialResponsibility (Z). While the remaining 38.9% is explained by other variables or independent variables outsidethe regression equation.

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