scholarly journals KEBIJAKAN PENDANAAN DAN DIVIDEN DENGAN PENDEKATAN ISVESTMENT OPPORTUNITY SET

2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Himmatul Ulyah
Keyword(s):  
High Growth ◽  
High Potential ◽  
Funding Policy ◽  
Investment Opportunity ◽  
Dividend Policies ◽  
Opportunity Sets ◽  
Funding Policies ◽  
Investment Opportunity Set ◽  
Significant Difference ◽  
Growth Firms

This study aims to see differences in funding policies and dividend policies between high-potential and high-growth manufacturing firms with Investment Opportunity Sets. The results show that there is a significant difference in funding policy between high-growth and potential firms with low-growth firms using investment opportunity sets. The resulting significant value is 0.014 where the value is lower than 0.05. There is a significant difference in the dividend policy between a highgrowth and high-potential manufacturing company with an investment opportunity set. The resulting significant value is 0.006 where the value is lower than 0.05. 

scholarly journals Endogeneity Test: Investment Opportunity Set and Ownership Structure on Funding Policies

2020 ◽  
Vol 55 (4) ◽  
Author(s):  
Khoirul Hikmah ◽  
Tulus Haryono ◽  
Djuminah
Keyword(s):  
Ownership Structure ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Funding Policy ◽  
Investment Opportunity ◽  
Funding Sources ◽  
Funding Policies ◽  
Investment Opportunity Set ◽  
Equity Ratio ◽  
The Relationship

A company’s funding policy is an important part of determining a company’s capital structure. The policy must consider and analyze a combination of economical funding sources for the company’s routine financing and corporate investment. The aim of this research was to examine the relationship between investment opportunity set on funding policy and the ownership structure as a moderating variable (a variable that moderates the relationship between two other variables. With moderating variable, the relationship can be better or worse, depending on the effect). The population used in this research includes all companies that were publicly listed and traded on the Indonesia Stock Exchange between 2008 to 2018. The sampling technique used a purposive sampling method. There are several steps to answering the hypotheses in this research, which include (1) confirmatory factor analysis, (2) endogeneity tests, and (3) hypothesis testing through the use of multiple linear regression and moderation regression with panel data. The results indicated that investment opportunity set (TOBIN'Q) had a positive and significant effect on the company funding policy (Debt to Equity Ratio), while institutional and family ownership was found to weaken the influence of investment opportunity set (TOBIN'Q) on the company funding policies (Debt to Equity Ratio).

Investment opportunity set, board independence, and firm performance

2014 ◽  
Vol 40 (5) ◽  
pp. 454-468 ◽  
Author(s):  
Jerry Sun ◽  
George Lan ◽  
Zhenzhong Ma
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Interactive Effect ◽  
High Growth ◽  
Board Independence ◽  
Investment Opportunity ◽  
Content Type ◽  
Investment Opportunity Set ◽  
Growth Firms ◽  
The Impact

Purpose – The purpose of this paper is to investigate the impact of Sarbanes-Oxley Act (SOX) on high growth firms’ corporate governance. Specially, the study examines whether there is a negative impact of SOX on the interactive effect of board independence and investment opportunity set on firm performance. Design/methodology/approach – Sample firms were selected from the Investor Responsibility Research Center Directors’ database. Both accounting- and market-based firm performance measures are used. Regressions are run to test the hypothesis. Findings – It was found that the impact of SOX on the interaction effect of board independence and investment opportunity set on firm performance is negative. Originality/value – The results suggest that the impact of SOX in corporate governance and regulatory environment mitigates the effect of board independence on the relationship between investment opportunity set and firm performance, consistent with the notion that the enactment of SOX increases monitoring costs of board governance especially for high-growth firms.

scholarly journals Investment opportunity set, institutional ownership, family ownership and funding policy

2019 ◽  
pp. 2201-2214 ◽  
Author(s):  
Khoirul Hikmah ◽  
Tulus Haryono ◽  
Djuminah Djuminah ◽  
Rifqi Syarif Nasrulloh
Keyword(s):  
Institutional Ownership ◽  
Family Ownership ◽  
Funding Policy ◽  
Investment Opportunity ◽  
Investment Opportunity Set

scholarly journals The effects of corporate governance mechanisms and investment opportunity set on firm performance

2008 ◽  
Vol 5 (4) ◽  
pp. 135-148
Author(s):  
Ruey-Dang Chang ◽  
Yeun-Wen Chang ◽  
Ching-Ping Chang ◽  
Fiona Hu
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Audit Quality ◽  
Negative Relationship ◽  
High Growth ◽  
Moderating Effect ◽  
Investment Opportunity ◽  
Governance Mechanisms ◽  
Corporate Governance Mechanisms ◽  
Investment Opportunity Set

This study uses investment opportunity set (IOS) as an environmental factor, and investigates its moderating effect on the relationships between corporate governance mechanisms (including internal and external corporate governance mechanisms) and firm performance. The empirical results using regression analysis show: (1) The IOS does not have a moderating effect on audit quality and firm performance. (2) The negative relationship between institutional investor ownership and firm performance is stronger for firms with higher investment opportunities. (3) When CEO is the chairman of the board, high growth firms can lead to better firm performance. (4) The relationship between the IOS and pledged shares ratio of directors and supervisors has positive influence on firm performance

scholarly journals PERAN PROFITABILITAS DALAM MEMEDIASI PENGARUH FINANCIAL LEVERAGE DAN INVESTMENT OPPORTUNITY SET TERHADAP KEBIJAKAN DIVIDEN DI BURSA EFEK INDONESIA

2018 ◽  
pp. 143
Author(s):  
Ni Made Dewi Puspita Sari ◽  
I Gusti Bagus Wiksuana
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financial Leverage ◽  
Opportunity Sets ◽  
Analysis Technique ◽  
Investment Opportunity Set

The purpose of this study was to determine the role of profitability in mediating the effect of financial leverage and investment opportunity set on the dividend policy. The populations in this study were manufacturing companies listed on the Indonesia Stock Exchange. The sampling of the research was done by census and the number of samples were 12 companies. The data of research were secondary data obtained from Indonesia Stock Exchange website and Indonesian Capital Market Directory from 2011 to 2015. Testing of research hypothesis was conducted by using path analysis technique by tool of SPSS application.The results showed that financial leverage has a negative and significant effect on dividend policy. Investment opportunity set has negative and insignificant effect on dividend policy. Financial leverage has a positive and significant impact on profitability. Investment opportunity sets also have a positive and significant impact on profitability. Profitability has a positive and significant effect on dividend policy. Profitability is able to mediate the effect of financial leverage and investment opportunity set on dividend policy.

scholarly journals Difference in Funding Decision Based on the Growth Potential of the Company in Indonesia

2020 ◽  
Vol 9 (4) ◽  
Author(s):  
Darmawan Darmawan
Keyword(s):  
Common Factor ◽  
High Growth ◽  
Growth Potential ◽  
Investment Opportunity ◽  
Funding Decision ◽  
Growth Ratio ◽  
Investment Opportunity Set ◽  
The Difference ◽  
Difference Test ◽  
High Growth Potential

The purpose of the study, The research objective was to To find out the differences in funding decisions between companies that have high growth potential and companies that have low growth potential. Research is a quantitative study. Mean difference test is preceded by Common Factor Analysis to analyze which factors in the Investment Opportunity Set can represent the growth ratio of the company so that it can be used to separate companies with high and low growth potential. Furthermore, the analysis is carried out with a regression model to determine the difference in funding decisions on the growth potential of different companies. The results showed that The consumer goods industry and mining sector sectors that have not proven to be significant are the differences in funding decisions between companies that have the potential to grow high and those with low growth potential. In other sectors, it is evident that there are significant differences in funding decisions between companies that have the potential to grow high and those with low growth potential.

scholarly journals Investment Opportunity Set (IOS) Berbasis Pertumbuhan Perusahaan dan Kaitannya Dengan Upaya Peningkatan Nilai Perusahaan

2016 ◽  
Vol 18 (1) ◽  
pp. 83 ◽  
Author(s):  
Eka Handriani ◽  
Tjiptowati Endang Irianti
Keyword(s):  
Path Analysis ◽  
Theoretical Approach ◽  
Firm Value ◽  
Financial Statements ◽  
Investment Policy ◽  
Funding Policy ◽  
Investment Opportunity ◽  
Research Results ◽  
Investment Opportunity Set ◽  
Manufacturing Company

<p><em>This research aims to develop theoretical approach to complete the conceptual controversy regarding the research results on the investment policy and firm value. This research employs firm value, investment opportunity set (IOS), funding and dividend as variables. Dividends in the research proxied by dividend pay out ratio (DPR), funding proxied by DER and firm value indicated by Tobin’s q, which are mediated by IOS. The sample are taken from 154 manufacturing company financial statements during 2010 to 2012. The data were tested using path analysis. The research found that dividend and funding policy positively influence IOS. Investment opportunity (IOS) positively influences the firm value. IOS was able to mediate the effect of dividends to the firm value, and also the influence of funding decisions to firm value.</em></p>

scholarly journals PENGARUH IOS PADA NILAI PERUSAHAAN DENGAN KUALITAS LABA SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Putu Eka Nopiyani ◽  
Ni Made Wulan Sari Sanjaya ◽  
Ni Made Rianita
Keyword(s):  
Regression Analysis ◽  
Firm Value ◽  
Earnings Quality ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Purposive Sampling ◽  
Opportunity Sets ◽  
Analysis Technique ◽  
Investment Opportunity Set

ABSTRAKPenelitian ini dilakukan untuk mendapatkan bukti empiris mengenai pengaruh investment opportunity set pada nilai perusahaan dengan kualitas laba sebagai variabel moderasi. Metode yang digunakan untuk menentukan sampel pada penelitian ini adalah teknik purposive sampling, sehingga diperoleh 38 perusahaan manufaktur sebagai sampel. Teknik analisis data yang digunakan dalam penelitian ini adalah Moderated Regression Analysis (MRA) dengan bantuan aplikasi SPSS 21. Hasil penelitian ini menunjukkan bahwa investment opportunity set tidak berpengaruh pada nilai perusahaan. Kualitas laba mampu memperkuat pengaruh investment opportunity set pada nilai perusahaan. Kata kunci: investment opportunity set; kualitas laba; nilai perusahaan ABSTRACTThis research is conducted to obtain empirical evidence about the effect of investment opportunity set on firm value with earnings quality as moderation variable. The method used to determine the sample in this study is purposive sampling technique, so that obtained 38 manufacturing companies as a sample. Data analysis technique used in this research is Moderated Regression Analysis (MRA) with the help of SPSS 21 application. The results of this study indicate that investment opportunity set has no effect on firm value. The earnings of quality are able to strengthen the influence of investment opportunity sets on the value of the firm. Keywords: Investment Opportunity Set; Earnings Quality; Firm Value

scholarly journals ANALISIS PENERAPAN TQM TERHADAP KINERJA MANAJERIAL PADA RUMAH SAKIT UMUM DI DENPASAR

2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Made Wahyu Adhiputra
Keyword(s):  
Firm Value ◽  
Earnings Quality ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Total Quality ◽  
Investment Opportunity ◽  
Opportunity Sets ◽  
Analysis Technique ◽  
Investment Opportunity Set ◽  
Sample Data

ABSTRAKPenelitian ini bertujuan untuk menganalisis hubungan antara penerapan Total Quality Management (TQM) dan kinerja manajerial pada organisasi rumah sakit umum di Kota Denpasar. Populasi dalam penelitian ini adalah seluruh tingkatan manajer baik manajer tingkat atas, menengah, dan bawah pada Rumah Sakit Umum di Denpasar. Alasan peneliti mengambil responden kepada tiap tingkatan manajer, karena pada seluruh tingkatan manajer tersebut menjadi lebih memiliki keterikatan kerjasama yang saling berhubungan untuk lebih meningkatkan, mengarahkan, dan mengembangkan perusahaan sehingga menjadi lebih baik lagi. Apabila TQM dapat diterapkan secara efektif, maka kinerja managerial juga akan meningkat. Sedangkan sistem pengukuran dan sistem penghargaannya adalah variabel moderating yang mempunyai kesatuan antara TQM dan kinerja managerial. Hasil dari penelitian menunjukkan bahwa penerapan TQM terhadap Kinerja Manajerial berpengaruh signifikansi t pada 0.023 < 0.05, mengindikasikan bahwa hipotesis pertama diterima. Kedua, interaksi penerapan TQM dan Sistem Pengukuran Kinerja terhadap Kinerja Manajerial berpengaruh signifikansi t pada 0.037 < 0.05, mengindikasikan bahwa hipotesis kedua diterima. Dan ketiga, interaksi penerapan TQM dan Sistem Penghargaan terhadap Kinerja Manajerial berpengaruh signifikansi t pada 0.042 < 0.05, mengindikasikan bahwa hipotesis ketiga diterima. Kata kunci: investment opportunity set; kualitas laba; nilai perusahaan ABSTRACTThis research is conducted to obtain empirical evidence about the effect of investment opportunity set on firm value with earnings quality as moderation variable. The method used to determine the sample in this study is purposive sampling technique, so that obtained 38 manufacturing companies as a sample. Data analysis technique used in this research is Moderated Regression Analysis (MRA) with the help of SPSS 21 application. The results of this study indicate that investment opportunity set has no effect on firm value. The earnings of quality are able to strengthen the influence of investment opportunity sets on the value of the firm. Keywords: Investment Opportunity Set; Earnings Quality; Firm Value

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