scholarly journals STRUKTUR MODAL DAN NILAI PERUSAHAAN : DIPENGARUHI OLEH UNIQUENESS, TANGIBILITY DAN FINANCIAL FLEXIBILITY

2021 ◽  
Vol 2 (2) ◽  
pp. 278-301
Author(s):  
Delfi Agustiawan ◽  
Yulia Efni ◽  
Gusnardi Gusnardi
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Structural Equation ◽  
Sampling Method ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Financial Flexibility ◽  
Insignificant Effect ◽  
Dependent Variables

This study is aimed to examine the effect of uniquenss, tangibility and financial flexibility on capital structure and firm value. The population of this study is miscellaneous industry sector from 2015 - 2019. The sample of the study is all companies were selected by purposive sampling method. Based on the criteria, 33 companies were chosen as the samples of this study. This study used structural equation modeling with partial least square program to test whether the independent variables affect the dependent variables. The results of this study are found that (1) uniqueness has a negative and insignificant effect on capital structure, (2) tangibility has a positive and significant effect on capital structure, (3) financial flexibility has a positive and significant effect on capital structure, (4) uniqueness and tangibility have a positive and significant effect on firm value, whille financial flexibility has a negative and insignificant effect on firm value, (5) tangibility has a positive and significant effect on firm value through capital structure, while uniqueness dan financial flexibility have a negative and insignificant effect on firm value through capital structure, and (6) capital structure has a negative and significant effect on firm value.

scholarly journals THE IMPACT OF PERSONAL PRODUCTIVITY DUE TO THE ATTACKS OF CORONAVIRUS DISEASE 2019: USING PARTIAL LEAST STRUCTURAL EQUATION MODEL

2020 ◽  
pp. 1-4
Author(s):  
SHEKH ABDULLAH-AL-MUSA AHMED ◽  
NIK ZULKARNAEN BIN KHIDZIR ◽  
SHIRIN AFROZ
Keyword(s):  
Structural Equation ◽  
Influence Factor ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Dependent Variables ◽  
Independent Variable ◽  
Personal Productivity ◽  
The Impact

Global coronavirus disease 2019 (COVID-19) is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The disease was first identified in December 2019 in Wuhan, the capital of China’s Hubei Province, and has since spread globally, resulting in the ongoing 2019–2020 coronavirus pandemic that has an impact which would be disturbed the personal productivity in the community. The dependent variable which is threat of COVID-19 (Thr_Cov-19), vulnerability of COVID-19 (Vul_Cov-19), and the unexpected change in society factors and one independent variable that is personal disturbance factors is used in this paper. Moreover, using as an indicator which will determine disturbance of personal productivity (D_PP) in the society. Since multiple regression by partial least square-structural equation modeling is used to examined of data by following unstructured method. Moreover, the resulting point out three dependent variables significantly influences on the independent variable of personal productivity in the society. As a matter of fact, this study concludes the foremost influence factor on D_PP in society due to COVID-19 risk factors such as Thr_Cov-19, Vul_Cov-19, and unexpected changed in the society factors. This study contributes to introductory study but vibrant understanding in stimulating the prediction of personal productivity in the society due to the COVID-19 attacks.

scholarly journals Bagaimana Good Corporate Governance (GCG) dalam Keberlanjutan Perusahaan?

2020 ◽  
Vol 3 (2) ◽  
pp. 225
Author(s):  
K. Kurniyati ◽  
K. Khairiyani
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Stock Price ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Good Corporate Governance

<p>This research aimed to examine the effect of Good Corporate Governance (GCG) on firm value. Good Corporate Governance (GCG) was measured by the Corporate Governance Perception Index (CGPI). CGPI was assessed by the Indonesian Institute of Corporate Governance (IICG), an independent institute that was conducting the development of Good Corporate Governance in Indonesia. The firm value was reflected by the stock price, PBV (Price to Book Value), and Tobin’s Q. This study used ten firms as a sample consistently listed in the Indonesian Stock Exchange and followed the CGPI program during 2014-2019. The sample was determined by using purposive sampling. Analysis of data in this study used Structural Equation Modeling-Partial Least Square (SEM-PLS) with SmartPLS 3rd version. The result showed that CGPI reflected Good Corporate Governance affected firm value (stock price, PBV, and Tobin’s Q).</p>

scholarly journals Keputusan Investasi, Leverage, Profitabilitas, dan Ukuran Perusahaan Sebagai Faktor Penentu Nilai Perusahaan Manufaktur

2020 ◽  
Vol 19 (1) ◽  
pp. 10-23
Author(s):  
I Made Purba Astakoni ◽  
I Wayan Wardita
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Hypothesis Test ◽  
Investment Decisions ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Test Results ◽  
Significant Positive Effect ◽  
Positive Effect

Abstract-The purpose of this study is 1) to find out and analyze the effect of investment decisions on firm value, 2) to find out and analyze the effect of leverage on firm value, 3) to find out and analyze the effect of profitability on firm value; 4) to find out and analyze the effect of company size on company value. The population in this study are cosmetics and household use manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2011-2018. Sampling was done purposively with predetermined criteria. The data analysis of this study uses the Partial Least Square (PLS) approach. PLS is a Structural Equation Modeling (SEM) equation model based on components or variants. Based on the hypothesis test, the first hypothesis is obtained; which states that investment decision variables have a significant positive effect on firm value is acceptable. Second hypothesis test results; which states that leverage has a significant positive effect on firm value is acceptable. Third hypothesis test results; which states profitability has a significant positive effect on firm value is acceptable. The fourth hypothesis test results; which states that company size has a significant positive effect on the value of the company can not be accepted (rejected). The result of the model accuracy test by looking at R Square Adjusted which contributed the model in explaining the structural relationship of the studied variables was 0.604 (or 60.40%). Keywords: Investment Decisions; Leverage; Profitability; Firm Size and Firm Value. Abstrak-Tujuan dari studi ini adalah 1) untuk mengetahui dan menganalisis pengaruh keputusan investasi terhadap nilai perusahaan,2) untuk mengetahui dan menganalisis pengaruh leverage terhadap nilai perusahaan, 3) untuk mengetahui dan menganalisis pengaruh profitabilitas terhadap nilai perusahaan; 4) untuk mengetahui dan menganalisis pengaruh ukuran perusahaan terhadap nilai perusahaan. Populasi dalam studi ini adalah perusahaan manufaktur sektor kosmetik dan keperluan rumah tangga yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2018. Pengambilan sampel dilakukan secara purposive dengan kriteria yang telah ditetapkan sebelumnya. Analisis data studi ini menggunakan pendekatan Partial Least Square (PLS). PLS adalah model persamaan Structural Equation Modeling (SEM) yang berbasis komponen atau varian. Berdasarkan uji hipotesis yang dilakukan didapat hipotesis pertama ; yang menyatakan variabel keputusan investasi berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis kedua ; yang menyatakan leverage berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis ketiga ; yang menyatakan profitabilitas berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis keempat ; yang menyatakan ukuran perusahaan berpengaruh signifikan positif terhadap nilai perusahaan tidak dapat diterima (ditolak). Hasil uji ketepatan model dengan melihat R Square Adjusted yang memberi kontribusi model dalam menjelaskan hubungan struktural variabel yang diteliti adalah sebesar 0,604 (atau 60,40%). Kata kunci: Keputusan Investasi; Leverage; Profitabilitas; Ukuran perusahaan dan Nilai perusahaan

The Effect of Growth and Systematic Risk on the Firm’s Value: Profitability as a Mediating Variable

2021 ◽  
Vol 23 (3) ◽  
Author(s):  
Mulyanto Nugroho ◽  
Abdul Halik
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Systematic Risk ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Equation Modeling ◽  
Significant Positive Effect ◽  
The Impact ◽  
Positive Effect

This research aimed to examine the impact of growth and systematic risk on company value, mediated by profitability in insurance companies listed on the Indonesia Stock Exchange (IDX). There are 88 companies in the financial sector in the insurance sub-sector listed on the IDX. They were taken as the population by using the purposive sampling technique. The sample of this study consisted of fourteen insurance companies. The data is analyzed using partial least square structural equation modeling (PLS-SEM). It was found that growth has a significant positive effect on profitability, and profitability has a significant positive effect on firm value. It means that profitability fully mediates the effect of growth on firm value. On the contrary, growth does not have a significant direct effect on firm value. Systematic risk has no significant effect on profitability and firm value. These findings are expected to have a good impact on investors and firms’ managers in Indonesia by looking at the growth and its impact on current corporate values.

scholarly journals PENGARUH INTELLECTUAL CAPITAL DAN CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI

2021 ◽  
Vol 4 (1) ◽  
pp. 426-436
Author(s):  
Anisa Hediyanti Muasiri ◽  
◽  
Erna Sulistyowati ◽  
Keyword(s):  
Corporate Governance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Structural Equation ◽  
Secondary Data ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Analysis Technique ◽  
Modeling Data

This study aims to test the influence of intellectual capital and corporate governance on firm value with profitability as a moderating variable. The population of this study is banking companies listed on IDX during 2015 –2019 amounted to 45 companies. Sampling techniques using purposive sampling so that research samples obtained as many as 15 companies. The research data used is secondary data obtained from the annual report and GCG reportof banking companies listed on IDX during 2015 –2019. This study uses structural equation modeling data analysis technique –partial least square (SEM-PLS) with WarpPLS 7.0 software. The result of this study shows that: (1) Intellectual capital positively and significantly affects the firm value, (2) Corporate governance has no effect on the firm value, (3) Profitability can moderate the influence of intellectual capital on the firm value, (4) Profitability can’t moderate the influence of corporate governance on the firm value.Keywords: Intellectual Capital, Corporate Governance, Firm Value, Profitability

scholarly journals Peran Kebijakan Dividen Dalam Memediasi Profitabilitas dan Kebijakan Pendanaan Terhadap Nilai Perusahaan

2021 ◽  
Vol 10 (2) ◽  
pp. 161-172
Author(s):  
Desire Nur Addin Afeeanti ◽  
Indah Yuliana
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Dividend Policy ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Public Companies ◽  
Independent Variables ◽  
Negative Effect

This study examines the role of dividend policy in mediating profitability and leverage on firm value. The method used in this research is Structural Equation Modeling-Partial Least Square (SEM-PLS) to test the relationship between variables. This study uses data on annual report of go-public companies in 2014-2018 period. ROE and ROA are independent variables (X1), DER and DAR are independent variables (X2). While PER and PBV are the dependent variables and DPR and DY are intervening variables. This study resulted in profitability and leverage has positive and significant effect, but the dividend policy negative and no significant effect on firm value. Profitability has positive and significant effect, but leverage has a significant negative effect on dividend policy. Dividend policy has not been able to mediate between profitability and leverage on firm value.

scholarly journals PREDIKSI CUSTOMER EXPERIENCE DAN SERVICE QUALITY TERHADAP CUSTOMER LOYALTY: CUSTOMER SATISFACTION SEBAGAI VARIABEL MEDIASI

2021 ◽  
Vol 5 (1) ◽  
pp. 191
Author(s):  
Keni Keni ◽  
Kavira Kamate Sandra
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Sampling Method ◽  
Customer Experience ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Convenience Sampling

Pertumbuhan tingkat penjualan ritel di Indonesia bernilai negatif selama satu tahun terakhir. Berbagai fenomena yang terjadi akibat pandemi yang sudah berlangsung sejak tahun 2020 menyebabkan penurunan tersebut, seperti pengurangan gaji dan pemutusan hubungan kerja yang berdampak terhadap penurunan daya beli masyarakat, sehingga menghambat kinerja perusahaan ritel. Oleh sebab itu, perusahaan ritel perlu memperbaiki kinerjanya dengan meningkatkan loyalitas pelanggan yang merupakan sebuah upaya untuk mempertahankan pelanggan yang sudah ada. Penelitian ini bertujuan untuk menguji apakah 1) pengalaman pelanggan dapat memprediksi kepuasan pelanggan. 2) kualitas pelayanan dapat memprediksi kepuasan pelanggan. 3) pengalaman pelanggan dapat memprediksi loyalitas pelanggan. 4) kualitas pelayanan dapat memprediksi loyalitas pelanggan. 5) kepuasan pelanggan dapat memprediksi loyalitas pelanggan. 6) kepuasan pelaggan memediasi prediksi pengalaman pelanggan pada loyalitas pelanggan. 7) kepuasan pelanggan memediasi prediksi kualitas pelayanan pada loyalitas pelanggan. Sampel dipilih dengan menggunakan metode non-probability sampling yang berupa teknik convenience sampling pada 200 responden dan Partial Least Square – Structural Equation Modeling (PLS-SEM) dilakukan untuk menguji hipotesis penelitian. Hasil penelitian ini menunjukan bahwa pengalaman pelanggan dan kualitas pelayanan berpengaruh signifikan untuk memprediksi kepuasan pelanggan, pengalaman pelanggan memiliki pengaruh signifikan untuk memprediksi loyalitas pelanggan, kualitas pelayanan tidak berpengaruh signifikan untuk memprediksi loyalitas pelanggan, kepuasan pelanggan memiliki pengaruh signifikan untuk memprediksi loyalitas pelanggan, dan kepuasan pelanggan memediasi prediksi pengalaman pelanggan dan kualitas pelayanan pada loyalitas pelanggan.  Retail’s sales-growth in Indonesia has been decreasing since last year. Various phenomenons which are caused by the pandemic that has been happening since 2020 has caused the decrease, such as reduction in salary and laid off that resulted in reducing purchasing power which then obstruct retail firm’s performance. Therefore, retail firms should improve their performance by increasing customer loyalty which is an attempt to retain existing customers. This research aimed to examine whether 1) customer experience can predict customer satisfaction.  2) service quality can predict customer satisfaction. 3) customer experience can predict customer loyalty. 4) service quality can predict customer loyalty. 5) customer satisfaction can predict customer loyalty. 6) customer satisfaction mediates the prediction customer experience on customer loyalty. 7) customer satisfaction mediates the prediction service quality on customer loyalty. The sample of this study was selected by using the non-probability sampling method, which is convenience sampling method, with a total amount of 200 respondents and Partial Least Square – Structural Equation Modeling (PLS-SEM) was conducted for the hypotheses testing. The findings of this study illustrate that customer experience and service quality has significant effect to predict customer satisfaction, customer experience has significant effect to predict customer loyalty, service quality has not significant effect to predict customer loyalty, customer satisfaction has significant effect to predict customer loyalty, customer satisfaction mediates the prediction of customer experience and service quality on customer loyalty.

scholarly journals The Role of Marketing Innovation Mediation on The Influence of Organizational Creativity on Marketing Performance During The Covid-19 Pandemic Study on MSMEs Incorporated in Bojonegoro APMMIK

2021 ◽  
Vol 2 (3) ◽  
pp. 142-153
Author(s):  
Andrik Wijayanto ◽  
Sanaji
Keyword(s):  
Structural Equation Modeling ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Marketing Innovation ◽  
Organizational Creativity ◽  
Marketing Performance ◽  
Insignificant Effect

This study aims to determine the effect of organizational creativity on marketing performance mediated by marketing innovations in MSMEs who are members of APMMIK Bojonegoro during the pandemic. The respondents used were 103 MSMEs owners, the test was carried out using the variant-based Structural Equation Modeling (SEM) method with the Partial Least Square (PLS) alternative with the smartPLS 2.0 M3 program. Based on the results of the analysis, it can be concluded that organizational creativity has a positive and significant effect on marketing innovation, marketing innovation has a positive and significant effect on marketing performance, and organizational creativity has a negative and insignificant effect on marketing performance. The implementation of this research is to increase innovation during the pandemic so that MSME can continue to rise and develop.

scholarly journals Analisis Pengaruh Investment Opportunity Set, Kebijakan Hutang, Profitabilitas dan Kepemilikan Manajerial Terhadap Kebijakan Dividen dan Nilai Perusahaan (Studi Pada Perusahaan yang Terdaftar Dalam Indeks Papan Utama BEI Tahun 2009 – 2016)

2019 ◽  
Vol 28 (1) ◽  
pp. 29-44
Author(s):  
Yuliastanti Nugrahandini ◽  
Irene Rini Demi Pangestuti ◽  
Soegiono Soegiono
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Investment Opportunity ◽  
Tobin's Q ◽  
Investment Opportunity Set ◽  
Negative Effect

To obtain maximum returns, prospective investors must have knowledge of the fundamental aspects to be able to place their investments appropriately in the issuer's companies in the capital market. This study aims to examine whether the investment opportunity set, debt policy, profitability and managerial ownership influence the firm value by using dividend policy as an intervening variable. The sample used in this study consisted of 20 companies listed on the Main Board of IDX in the period from 2009-2016. The analysis technique used is Partial Least Square Structural Equation Modeling (PLS-SEM). The results of the study show that IOS has a negative effect on DPR and ROA has a positive effect on the DPR. While other variables did not significantly influence the DPR. The influence of IOS, ROA, and manajerial ownership significantly positive on Tobin's Q while DAR, Size and DPR had a significantly negative effect on Tobin's Q. Based on the VAF test, the DPR mediated IOS by 17.17% and mediated ROA by -4.46% or less than 20 % so that it can be concluded that there is almost no mediating role of the DPR on the relationship of IOS and ROA to the firm value.

scholarly journals Pengaruh Store Image dan Hedonic Motives terhadap Impulse Buying Konsumen Buah

2021 ◽  
Vol 5 (4) ◽  
pp. 1217-1226
Author(s):  
Wellynda Kusumawati ◽  
◽  
Bambang Ariadi ◽  
Ary Bakhtiar
Keyword(s):  
Structural Equation ◽  
Sampling Method ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Primary Data ◽  
Equation Modeling ◽  
Store Image ◽  
Impulse Buying ◽  
Purposive Sampling

Impulse buying has several factors that effect, among others, store image and hedonic motives. This research aims to determine the effect of store image on impulse buying fruit consumers and know the effect of hedonic motives on impulse buying fruit consumers. Location determination using purposive sampling method. The type and source of data used are primary data. Data collection methods in this study used questionnaires and interviews. The sampling method uses a purposive sampling technique, with a total sample of 65 respondents. Variable measurement using a likert scale. Data analysis method used Structural Equation Modeling - Partial Least Square (SEM - PLS), using SmartPLS software. The results showed that there was a significant effect of store image on impulse buying fruit products. Consumer interest in a good store image makes consumers feel happy shopping and makes consumers have a good impression on a store, thus making consumers make impulse buying. showed that there was a significant influence of hedonic motives on impulse buying fruit products. The existence of internal factors that exist in consumers, especially the nature of hedonic motives can shape the perception of consumers doing impulse buying. The recommendation of this research is to develop the influence of impulse buying consumers from other factors.

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