scholarly journals PENGARUH STRUKTUR KEPEMILIKAN, PROFITABILITAS DAN KEBIJAKAN KEUANGAN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019)

2020 ◽  
Vol 5 (2) ◽  
pp. 19-28
Author(s):  
Nadya Shafira Ramadhani ◽  
Ahmad Subaki ◽  
Ahmad Sonjaya
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sample Selection ◽  
Investment Policy ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Policy Variable ◽  
Debt Policy

ABSTRACTThis study aims to determine how the influence of ownership structure, profitability, dividend policy, debt policy and investment policy on company value in manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. In this research, the method of explanation is used. The variables in this study are managerial ownership structure (X1), profitability (X2), dividend policy (X3), debt policy (X4), investment policy (X5) and firm value (Y). The population of this research is manufacturing companies listed on the Indonesia Stock Exchange. The sample selection technique used was purposive sampling. The results of this study indicate that partially managerial ownership has no effect on firm value. Profitability variable partially affects firm value. Dividend policy variable partially has no effect on firm value. The debt policy variable partially affects firm value. The investment policy variable partially affects firm value.  

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

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

Firm Value Reviewing from Debt Policy, Dividend Policy and Ownership Structure

2021 ◽  
Vol 6 (2) ◽  
pp. 7-14
Author(s):  
Adra Mutama ◽  
Zefriyenni ◽  
Sigit Sanjaya
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Estimation Model ◽  
Panel Data Regression ◽  
Data Regression ◽  
Research Population ◽  
Debt Policy

This study aims to determine the extent to which firm value is influenced by the company's dividend policy and ownership structure. The research population is property and real estate companies listed on the Indonesia Stock Exchange for the period 2014-2018, totaling 70 companies. The sample was determined by purposive sampling method, the number of research samples is 20 companies. Data analysis used the estimation model test, classical assumption test, panel data regression, hypothesis testing consisting of the F test and t test. The results showed that: (a) debt policy partially has a positive and significant effect on firm value (b) dividend policy partially has a positive and significant effect on firm value. (c) institutional ownership has a positive and significant effect on firm value. (d) managerial ownership partially has a positive and significant effect on firm value. 

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 KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG, PROFITABILITAS DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019

2021 ◽  
Vol 4 (1) ◽  
pp. 15-27
Author(s):  
Desi eka Ardiani ◽  
Sri Hermuningsih ◽  
Ratih Kusumawardani
Keyword(s):  
Consumer Goods ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Financial Reports ◽  
Insignificant Effect ◽  
Industrial Companies ◽  
Consumer Goods Industry ◽  
Debt Policy

Penelitian dilakukan guna menganalisis pengaruh kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial terhadap nilai perusahaan subsektor industri barang konsumsi yang telah terdaftar di Bursa Efek Indonesia tahun 2015-2019. Populasi terdiri dari seluruh perusahaan industri barang konsumsi tahun 2015 hingga 2019. Sampel penelitian ini yaitu 8 perusahaan subsektor industri barang konsumsi dan seri waktu 5 tahun dari 2015 sampai 2019. Data didapatkan melalui laporan keuangan tahunan di Bursa Efek Indonesia (BEI) memakai metode purposive sampling yakni didasarkan pada kriteria tertentu. Metode analisis memakai analisis regresi berganda, asumsi kalsik dan uji hipotesis dengan tingkat memakai program SPSS. Hasil yang telah diselesaikan kebijakan dividen(DPR) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kebijakan hutang(DER) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Profitabilitas(ROA) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kepemilikan manajerial(KM) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Kemudian bersama-sama kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial berpengaruh terhadap nilai perusahaan. AbstractThis study aims to analyze the effect of dividend policy, debt policy, profitability, and managerial ownership on the value of the consumer goods industry sub-sector companies that have been listed on the Indonesia Stock Exchange in 2015-2019. The population used is all consumer goods industrial companies from 2015 to 2019. The sample of this research is 8 companies in the consumer goods industry subsector and a 5-year time series from 2015 to 2019. Data is obtained from annual financial reports on the Indonesia Stock Exchange (IDX) using a purposive method. sampling that is based on certain criteria. The analytical method used is multiple regression analysis, calcic assumptions, and hypothesis testing using the SPSS program. The results that have been finalized dividend policy (DPR) have a positive and significant effect on firm value. Debt policy (DER) has a positive and insignificant effect on firm value. Profitability (ROA) has a positive and significant effect on firm value. Managerial ownership (KM) has a positive and insignificant effect on firm value. Meanwhile, collectively, dividend policy, debt policy, profitability, and managerial ownership affect firm value.

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 20 (2) ◽  
pp. 117-126
Author(s):  
ANWAR HARSONO
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Capital Expenditure ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Return On Assets ◽  
Final Sample ◽  
Debt Policy

The objective of the research is to obtain empirical evidence on the effect of independent variables of firm size, cash, capital expenditure, dividend policy, debt policy, return on asset, managerial ownership, and institutional ownership to firm value.The population used in this study are non-financial companies listed on the Indonesia Stock Exchange from 2013-2016. Intake of data in this research using purposive sampling method. There are 54 non-financial companies that fit the criteria and were selected as the final sample. This study uses multiple regression analysis to test the hypothesis. The value of firms in this study was measured using Tobins'Q.The empirical results of this study indicate that the variables independent debt policy and return on assets have an influence on firm value, while the variables of firm size, cash, capital expenditure, dividend policy, managerial ownership, and institutional ownership have no effect on firm value.

scholarly journals The effect of policy on debt and profitability with firm values with corporate governance as moderate variables

2022 ◽  
Vol 10 (8) ◽  
pp. 39-46
Author(s):  
Randy Chaidir ◽  
Rosidi Rosidi ◽  
Wuryan Andayani
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sample Selection ◽  
Secondary Data ◽  
Corporate Value ◽  
Manufacturing Companies ◽  
Debt Policy ◽  
Positive Effect

This study aims to determine the effect of debt policy and profitability on firm value moderated by corporate governance. This study uses secondary data on manufacturing companies listed on the Indonesia Stock Exchange for a five-year period from 2016 to 2020. The sample selection used the purposive sampling method in order to obtain a total of 195 samples that met the specified criteria. This research was tested using Moderated Regression Analysis. The results of this study provide evidence that debt and profitability policies have a positive effect on firm value.  Corporate is unable to influence the policy of debt to the value of the company, meaning that corporate governance cannot parse the information asymmetry caused by the policy of debt to corporate value and corporate governance strengthen the influence of profitability on firm value, which means that with the increasing corporate governance can strengthen the effect of profitability on firm value.

scholarly journals ENGARUH BIAYA KEAGENAN, TAHAP DAUR HIDUP PERUSAHAAN, KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN UTANG SEBAGAI VARIABEL PEMODERASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

2018 ◽  
Vol 3 (2) ◽  
pp. 172
Author(s):  
Muhammad Yasfi ◽  
Kurniawan Ali Fachrudin
Keyword(s):  
Life Cycle ◽  
Firm Value ◽  
Stock Exchange ◽  
Agency Cost ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Best Interest ◽  
Firm Life Cycle ◽  
Life Cycle Stages ◽  
Debt Policy

One of the company's main objective was to enhance firm value through increased prosperity of the owners or shareholders. The separation of ownership from management in corporation creates agency problem. Managers who run companies and usually do not have stock ownership may not act in the shareholder’s best interest because they maximize their own wealth.The objective of this research was to examine whether there was an effect of agency cost (dispersion of ownership and managerial ownership), firm life cycle stages, and dividend policy on firm value with debt policy as moderating variable. The population of the study is the manufacturing companies that registered in Indonesian Stock Exchange in the period of 2002–2012. Samples of 88 observations are selected using purposive sampling method. The analysis method of this research was simple regression and Moderated Regression Analysis (MRA).The result showed that dispersion of ownership and firm life cycle stages can influence firm value. The result also showed that debt policy can moderating dispersion of ownership influence firm value.

scholarly journals THE ANALYSIS OF FACTORS WHICH INFLUENCE THE MANAGERIAL AND INSTITUTIONAL OWNERSHIP ON BASIC INDUSTRY AND CHEMICAL SECTORS AT INDONESIA STOCK EXCHANGE 2010 - 2014

2015 ◽  
Vol 14 (1) ◽  
Author(s):  
Andrena Novita Santoso ◽  
Werner R. Murhadi ◽  
Endang Ernawati
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Significant Negative Effect ◽  
Policy Variable ◽  
Negative Effect ◽  
Debt Policy ◽  
Positive Effect

The purpose of this study is to determine the effect of the following corporation’s variables: value, size, debt policy, growth, liquidity, dividend policy on managerial and  institutional ownership in the base and chemical industry sector listed on the Indonesia stock exchange during 2010 through 2014. The findings showed that: (i) Corporation’s value and size variables have significant negative effect on managerial ownership; liquidity variable has significant positive effect on managerial ownership. On the other hand, debt policy, growth and dividend policy variables have non-significant negative effect on managerial ownership. (ii) Corporation’s value and size variables have significant positive effect on institutional ownership; debt policy variable has significant negative effect on institutional ownership, while growth, liquidity and dividend policy variables have non-significant positive effect on institutional ownership.

scholarly journals Analisis Pengaruh Kebijakan Deviden Terhadap Nilai Perusahaan

2015 ◽  
Vol 1 (3) ◽  
pp. 254-260
Author(s):  
Idel Waldelmi
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Stock Exchanges ◽  
Corporate Value ◽  
Analysis Method ◽  
Policy Variable

Abstract: This study aims to determine Dividend Policy Influence Analysis, Profitability and Institutional Ownership Structure on Capital Structure and Firm Value in companies listed on the Indonesia Stock Exchange. The sample consisted of 38 companies listed on the stock exchanges of Indonesia from 2010 - 2012. The sampling method used is purposive sampling. Data were analyzed using analysis method fath. The results showed Simultaneously ownership, dividend policy variable dividend policy has contributed to the company's value. Positive t value indicates that the variable dividend policy has a direct correlation with the value of the company. Keywords: dividend policy and corporate value.

STRUKTUR KEPEMILIKAN DAN NILAI PERUSAHAAN: (STUDI PADA PERUSAHAAN MANUFAKTUR YANG LISTING DI BURSA EFEK INDONESIA)

Jurnal Varian ◽  
2018 ◽  
Vol 1 (2) ◽  
pp. 41-49
Author(s):  
Restu Fahdiansyah ◽  
Jihadil Qudsi ◽  
Adam Bachtiar
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Agency Problems ◽  
Institutional Ownership ◽  
Shareholder Wealth ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Ownership Structures ◽  
Company Value

The purpose of company management in general is to generate profit, but furthermore the management of the company is required to improve the welfare of the owners of the company or in this case the shareholders. To achieve these objectives, it is necessary to have ownership structures that can provide maximum supervision to managers in order to carry out their duties to improve the welfare of the owners of the company through increasing the value of the company. This is in accordance with the agency theory developed by Jensen Meckling stating that the manager as an agent delegated by the owner of the company to manage the company. In the process of managing the company, according to Jensen Meckling there is possible occurrence of agency problems, which arise because of the tendency of managers to not always make decisions that aim to meet the interests of principals or owners of the company to the fullest. To align the interests of managers and owners of the company so as to reduce agency problems, it is necessary to have a good ownership structure, capable of monitoring the performance of management in meeting the interests of the owner of the company. Therefore, this study would like to examine how ownership structures proxied with institutional ownership and managerial ownership can influence the value of firms that can ultimately have an impact on increasing shareholder wealth. This study tested 71 manufacturing companies listed on the Indonesian Stock Exchange in 2016 using multiple regression analysis techniques. The test results show the significant influence of variables with institutional ownership and managerial ownership of firm value, which shows that the ownership structure that allows the owner of the company to supervise the performance of the company's management can have an impact on the increase of company value.

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