PENGARUH INVESTMENT OPPORTUNITY SET TERHADAP NILAI PERUSAHAAN DENGAN MEDIASI KEBIJAKAN DEVIDEN  [Studi Empiris pada Emiten yang Tergabung dalam Index LQ45]

This study l examine whether IOS and dividend policy have a positive direct effect on firm value, and whether dividend policy mediates the indirect influence of IOS on firm value on companies incorporated in LQ45. Pooled Least Squares analysis method was used. IOS was proxied with MVBVE, and dividend policy as a mediating variable was proxied with DPR. Firm value was proxied with Price Earning Ratio (PER). The samples taken were 27 companies from the population, namely companies incorporated in the LQ 45 index. The samples were chosen purposely, namely companies that were consistently in the LQ 45 index group for three consecutive years (2015-2017). Investment Opportunity Set has a significant positive effect on Company Value. Dividend policy has a significant positive effect on Corporate Value and dividend policy mediates partially the effect of no IOS on firm valueKeywords: Investment Opportunity Set, Devidend Payout Ratio, Firm Value

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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.

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Assets Growth, Earnings Persistence, Investment Opportunity Setand Earnings Management on Dividend Policy and Firm Value (Study at Bank Companies in Indonesia)

Journal of Southwest Jiaotong University ◽

10.35741/issn.0258-2724.56.2.18 ◽

2021 ◽

Vol 56 (2) ◽

pp. 220-234

Author(s):

Indrayati ◽

Basuki Rachmat ◽

Slamet

Keyword(s):

Earnings Management ◽

Firm Value ◽

Earning Management ◽

Significant Positive Effect ◽

Investment Opportunity ◽

Insignificant Effect ◽

Investment Opportunity Set ◽

Negative Effect ◽

Asset Growth ◽

Positive Effect

The purpose of this study was to test the effect empirically the influence of growth and earnings management on dividend payment policies and company value in as many as 40 banking companies listed on the Indonesian stock exchange in 2015-2019. The research method is explanatory research with secondary data, based on documentation data, data processing using the Structural Equation Model test. The results showed that asset growth had a negative and insignificant effect on dividends, persistence had no significant negative effect on dividends, investment opportunity set had a significant positive effect on dividends, earning management had a positive and insignificant effect on dividends, asset growth had no significant negative effect on the value company, dividends had a significant positive effect on firm value. Persistence has no significant positive effect on firm value. Investment opportunity set has a positive and insignificant effect on firm value, and earning management had a significant positive effect on firm value.

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PENGARUH LEVERAGE DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Studi kasus pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2012-2016)

Jurnal Riset Bisnis dan Manajemen Tirtayasa ◽

10.48181/jrbmt.v2i1.3831 ◽

2018 ◽

Vol 2 (1) ◽

Author(s):

Ridho Ramadhani ◽

Akhmadi Akhmadi ◽

Muhammad Kuswantoro

Keyword(s):

Regression Analysis ◽

Firm Value ◽

Dividend Policy ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Return On Assets ◽

Book Value ◽

Company Value ◽

Equity Ratio ◽

Positive Effect

This study aims to examine the effect of leverage proxyed by Debt to Equity Ratio (DER) and profitability proxy with Return On Assets (ROA) to company value proxy with Price to Book Value (PBV) through dividend policy proxy with Dividend Payout Ratio (DPR) as an intervening. The study was conducted on 37 manufacturing companies using multiple regression analysis with the help of SPSS version 19.00. The result of the research shows that leverage has significant positive effect to company value; profitability has a significant positive effect on firm value; leverage has no effect on dividend policy; profitability has a positive effect on dividend policy and dividend policy has a positive effect on firm value. The dividend policy can’t mediate the indirect effect between leverage and profitability on firm value.

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PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI PERUSAHAAN INDEKS KOMPAS 100

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2020.v09.i02.p13 ◽

2020 ◽

Vol 9 (2) ◽

pp. 658

Author(s):

I Wayan Edi Suliastawan ◽

Ni Ketut Purnawati

Keyword(s):

Regression Analysis ◽

Firm Value ◽

Sampling Method ◽

Dividend Policy ◽

Stock Exchange ◽

Significant Positive Effect ◽

Mining Companies ◽

Company Value ◽

Analysis Technique ◽

Positive Effect

The value of the company can provide maximum shareholder prosperity if the performance is good. one of them can be measured by profitability and other factors that influence company value are dividend policy. The purpose of this study was to determine the effect of profitability on firm value with dividend policy as a moderating variable in the Kompas 100 Index company. This research was conducted in all mining companies incorporated in the Kompas 100 Index on the Indonesia Stock Exchange (IDX). The number of samples, using the purposive sampling method is as many as 17 companies from 100 companies during the 2014-2018 period. The data analysis technique applied in this study is the regression analysis moderation. The results of the analysis produce, profitability has a significant positive effect on firm value. Dividend policy has a significant positive effect on firm value. Dividend policy moderates the effect of profitability on company value in the mining sector of the Kompas 100 Index. Keyword : profitability, dividend policy and company value.

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PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG, KEBIJAKAN DEVIDEN, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN (Studi Kasus Perusahaan Manufaktur Yang Go Publik di Bursa Efek Indonesia) PERIODE 2010 - 2014

Jurnal Akuntansi ◽

10.24964/ja.v4i1.123 ◽

2016 ◽

Vol 4 (1) ◽

Author(s):

Hari Purnama

Keyword(s):

Dividend Policy ◽

Investment Decision ◽

Investment Decisions ◽

Investment Policy ◽

Significant Positive Effect ◽

Corporate Value ◽

Significance Level ◽

Company Value ◽

Debt Policy ◽

Positive Effect

Singer study aims to review the empirical buktik ABOUT determine the effect of profitability (ROE) The Company Value (PBV). For a review of empirical know buktik ABOUT influence Debt Policy (DER) Against Corporate Value (PBV). For a review of empirical know buktik ABOUT influence Dividend Policy (DPR) The Company Value (PBV). For a review of empirical know buktik ABOUT influence Investment Decision (PER) Against Corporate Value (PBV). For a review of empirical know buktik ABOUT influence profitability (ROE), Debt Policy (DER), Dividend Policy (DPR), and Investment Decisions (PER) operates simultaneously Against Corporate Value (PBV). Research Variables The singer is the effect of profitability (ROE), Debt Policy (DER), Dividend Policy (DPR), and Investment Decisions (PER) and Corporate Value (PBV). Research Data Data operates is sekuder Form Manufacturing Company Financial Statements Year period 2010 - 2014. The analysis technique used is multiple linear regression WITH significance level of 5%. Results showed profitability (ROE) and a significant positive effect Against Corporate Value (PBV). Debt Policy (DER) No effect Against Corporate Value (PBV). Dividend policy (DPR) and a significant positive effect Against Corporate Value (PBV). Investment Policy (PER) and a significant positive effect Against Corporate Value (PBV). Concurrent operating profitability (ROE), the policy Debt (DER), the dividend policy (DPR) and kebjakan Investments (PER) significantly Against Corporate Value (PBV). Effect profitability (ROE), the policy Debt (DER), the dividend policy (DPR) and kebjakan Investments (PER) The Company Value by 56.6% while the rest influenced by factors lying Its NOT SIGN Model Research hearts. Keywords: Profitability, Debt Policy, Dividend Policy, Investment Policy and Corporate Value

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Analisis Efek Anteseden Struktur Modal Pada Nilai Perusahaan

Jurnal Akuntansi dan Keuangan ◽

10.23960/jak.v24i2.56 ◽

2021 ◽

Vol 24 (2) ◽

pp. 97-118

Author(s):

Ruli Indriani ◽

Ratna Septiyanti ◽

Ninuk Dewi Kusumaningrum ◽

Usep Syaipudin

Keyword(s):

Capital Structure ◽

Firm Size ◽

Firm Value ◽

Manufacturing Industry ◽

Dividend Policy ◽

Stock Exchange ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Positive Effect

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.

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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.

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Pengaruh Struktur Modal, Capital Expenditure, Profitabilitas Dan Kebijakan Dividen Terhadap Nilai Perusahaan Pada Perusahaan BUMN Indonesia.

JURNAL AKUNTANSI DAN PAJAK ◽

10.29040/jap.v20i2.636 ◽

2020 ◽

Vol 20 (2) ◽

Author(s):

Mispiyanti Mispiyanti

Keyword(s):

Capital Structure ◽

Firm Value ◽

Dividend Policy ◽

Capital Expenditure ◽

Corporate Value ◽

Company Value ◽

Investment Opportunities ◽

Negative Effect ◽

Research Gap ◽

Positive Effect

Some previous studies also show different results (research gap) about the factors that influence the value of the company. This study is to find out how the influence of capital structure, capital expenditure, profitability and dividend policy on corporate value in Indonesian BUMN companies partially and simultaneously. The population in this study is Indonesian BUMN companies that went public during 2015 - 2018 with selected samples based on purposive sampling criteria. The results of this study indicate that capital structure has no effect on the value of Indonesian BUMN companies in the 2015-2018 period, while capital expenditure and dividend policy have a positive effect on firm value and profitability has a negative effect on firm value. This indicates the existence of investment opportunities that attract new investors so they will get high returns. Keywords: BUMN companies, capital structure, capital expenditure, company value, dividend policy, profitability.

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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.

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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%.

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