A Study on the Relationship between ESG Evaluation Factors and Corporate Value

2019 ◽  
Vol 17 (2) ◽  
pp. 205-223
Author(s):  
Sang－Hui Oh ◽  
Seung－Tae Lee
Keyword(s):  
Corporate Value ◽  
The Relationship

scholarly journals KETERKAITAN MANAGERIAL OWNERSHIP DAN LEVERAGE TERHADAP NILAI PERUSAHAAN: DALAM KONTEK HUBUNGAN KEAGENAN PERUSAHAAN DI INDONESIA

2021 ◽  
Vol 5 (1) ◽  
pp. 160
Author(s):  
Margarita Ekadjaja ◽  
Rorlen Rorlen ◽  
Fanny Andriani Setiawan ◽  
Kartika Nuringsih
Keyword(s):  
Decision Making ◽  
Firm Value ◽  
Agency Costs ◽  
Least Square ◽  
Managerial Ownership ◽  
Corporate Value ◽  
Manufacturing Companies ◽  
Positive Interaction ◽  
Two Stage ◽  
The Relationship

Manajemen dan nilai perusahaan memiliki keterkaitan yang tidak dapat dipisahkan.  Dimana manajemen perusahaan merupakan penggerak roda perusahaan dan berorientasi pada nilai perusahaan. Peran seorang manajer adalah memaksimalkan kekayaan bagi pemegang saham.  Namun, manajer yang tidak memiliki kepemilikan saham yang signifikan di perusahaan dapat memilih untuk memaksimalkan keuntungan bersih mereka sendiri dengan mengorbankan pemilik perusahaan. Akibatnya, pemilik terpaksa mengeluarkan biaya agensi untuk memastikan bahwa manajemen perusahaan bertindak dengan cara yang tepat. Cara untuk mengurangi biaya agensi adalah memaksa perusahaan untuk meningkatkan hutang. Tujuan penelitian adalah  menguji hubungan simultan pertukaran antara ownership, leverage, dan nilai perusahaan sehubungan dengan keagenan pada perusahaan manufaktur di Indonesia dari tahun 2012-2018. Penelitian ini menambah pemahaman mengenai keterkaitan antara ownership dengan leverage, dan nilai perusahaan. Analisis data untuk argumen tentang keterkaitan simultan antara  ownership, leverage, dan nilai perusahaan melalui data panel regresi berganda 2 SLS (Two Stage Least Square). Bidang penelitian ini diperluas dengan mempertimbangkan model empiris di mana ownership dan leverage masing-masing diperlakukan sebagai variabel endogen atau ditentukan bersama.  Dalam metode 2 SLS ada 2 kali variabel yang diobservasi secara simultan untuk menghindari bayes sehingga variabel tersebut tidak bias, di mana variabel managerial ownership dan Leverage merupakan determinan non linier nilai perusahaan sebagai bagian integral dari pengambilan keputusan perusahaan dalam kerangka keagenan.  Persamaan Regresi hasil uji 2SLS memunjukkan keterkaitan nilai perusahaan dengan managerial ownership dan leverage. Hasil menunjukkan interaksi positif  tidak signifikan antara managerial ownerhip dengan nilai perusahaan, interaksi positif signifikan antara nilai perusahaan dengan leverage, dan interaksi yang negatif signifkan antara managerial ownership dengan leverage. Management and corporate value have an inseparable relationship. Where the company management is the driving force of the company and oriented to corporate values. The role of a manager is to maximize wealth of shareholders. However, managers who do not have a significant share in the company may choose to maximize their own net profits at the expense of the company owners. As a result, the owners are forced to incur agency costs to ensure that company management acts in an appropriate manner. The way to reduce agency costs is to force the company to increase debt. The research objective is to examine the exchange simultaneous relationship between ownership, leverage, and corporate value with respect to agency in manufacturing companies in Indonesia from 2012-2018. This study adds to the understanding of the relationship between ownership and leverage, and corporate value. Data analysis for arguments about the simultaneous relationship between ownership, leverage, and firm value through 2 SLS (Two Stage Least Square) multiple regression panel data. This field of research is extended by considering empirical models in which ownership and leverage are treated as endogenous or co-determined variables, respectively. Ownership and Leverage as an integral part of corporate decision making within an agency framework, which in turn will affect the value of the company. In the SLS 2 method, there are 2 variables that are observed simultaneously to avoid bayes so that the variable is not biased, in which the managerial ownership and leverage variables are nonlinear determinant corporate value as an integral part of corporate decision making within the agency framework, which in turn will affect firm value. The 2SLS regression equation results show the relationship between firm value and managerial ownership and leverage. The results prove that there is a positive interaction between managerial ownership between firm value, a significant positive interaction between firm value and leverage, and a significant negative interaction between managerial ownership and leverage.

scholarly journals Faktor Yang Mempengaruhi Nilai Perusahaan Dengan Corporate Social Responsibility sebagai Variabel Moderating

2020 ◽  
Vol 7 (4) ◽  
Author(s):  
Senja Nuansari
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Sampling Method ◽  
Stock Exchange ◽  
Target Population ◽  
Corporate Value ◽  
Main Method ◽  
Corporate Social ◽  
The Relationship

AbstractThe role of Corporate Social Responsibility (CSR) as a moderating variable in the effect of probability, leverage, and size of the company, on the company values listed on the Stock Exchange from 2015 through 2018 is examined in this study. The target population consists of 96 companies and 51 of them are considered as the sample according to a pool sampling method. Moderate Regression Analysis (MRA) is considered as the main method to identify and describe the relationship between the variables. These results reveal that the size of the company’s profitability and the size of a firm have a positive and significant impact on corporate value. On the other hand, leverage was found to have an insignificant effect on corporate value. Besides, CSR show to moderate the effect of probability, leverage, and size of the firm, on the value of the company.Keywords: CSR, Corporate Value, Profitability, Leverage, and size of a firm  AbstrakPeran tanggung jawab sosial perusahaan (CSR) sebagai variabel moderat memberikan efek probabilitas, leverage, dan ukuran pada nilai perusahaan yang tercantum di BEI periode 2015-2018 dalam penelitian ini. Dari populasi 96 perusahaan dan dipilih 51 sebagai sampel sesuai dengan metode pool sampling. Moderat regresi analisis (MRA) dianggap sebagai metode utama untuk mengidentifikasi dan menggambarkan hubungan antara variabel. Hasil ini mengungkapkan bahwa profitabilitas dan ukuran perusahaan memiliki dampak positif dan signifikan pada nilai perusahaan. Di sisi lain leverage ditemukan memiliki efek yang tidak signifikan dari nilai perusahaan. Selain itu, CSR menunjukkan dapat memoderasi probabilitas, leverage dan ukuran perusahaan, pada nilai perusahaan.Kata Kunci: CSR, nilai perusahaan, profitabilitas, leverage, ukuran perusahaan

FOREIGN OWNERSHIP AND CORPORATE VALUE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA

2020 ◽  
Vol 1 (1) ◽  
pp. 1-11
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Consumer Good ◽  
Foreign Ownership ◽  
Panel Regression ◽  
Random Effects Model ◽  
Corporate Value ◽  
Value Maximization ◽  
Descriptive Research ◽  
The Relationship

This study was motivated by the agency problem and information asymmetry problem of managers not acting completely in the interest of the owners following the shareholder’s value maximization objective. The study therefore sought to determine the effect of foreign ownership on corporate value of listed consumer good firms in Nigeria. Tobin Q was adopted as proxy for corporate value. The study adopted a descriptive research design using panel regression analysis to explain the relationship between the research variables. The population for the study was all consumer good firms listed on the Nigerian Stock Exchange (NSE) as at December 2016. Ten years panel Secondary data from CBN statistical bulletins, NSE reports, SEC reports and individual firm’s books were used for the study. From Random Effects Model of the analysis, the study found a positive non-significant effect of Foreign Ownership on Corporate Value of the sampled firms. This study recommends that foreign ownership policies of the firms can remain indifferent since its effect is insignificant.

scholarly journals PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CSR DAN GCG SEBAGAI VARIABEL PEMODERASI

2010 ◽  
Vol 10 (2) ◽  
pp. 41
Author(s):  
Hidayatullah ,
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Stock Exchange ◽  
Value Added ◽  
Corporate Financial Performance ◽  
Corporate Value ◽  
Moderating Variables ◽  
Good Corporate Governance ◽  
Relationship Of ◽  
The Relationship

<p class="Style1">This Thesis investigated the influence of financial performance toward corporate value by exposing Corporate Sosial Responsibility (CSR) and Good Corporate Governance (GCG) as Moderating Variables. Corporate Financial performance as independent variable is represented by the Financial Value Added (FVA) and Corporate Value as Dependent Variable is represented by Tobin `s Q value. CSR value is indexed based on the 78 items of exposure themes and GCG value is indexed using the 18 items of exposure themes which the researcher called Corporate Governance Perception Index. After selecting 149 companies listed in Indonesia Stock Exchange, the researcher found 39 manufacture companies<sup>.</sup>  qualified as the research objects based on the defined criteria, with observation timeframe from the year of2005 to 2008. The result of the research concludes that: Financial Performance (FVA) significantly influences the corporate value (Tobins 'Q); Corporate Sosial Responsibility also influences the relationship of corporate financial performance and the corporate value; and Good Corporate Governance influences the relationship of corporate financial performance and the corporate value as well.</p><p class="Style1">Keywords: Financial value Added, Tobin 's Q, CSR, GCG</p>

scholarly journals Women In Moderating Corporate Social Responsibility

2021 ◽  
pp. 1-14
Author(s):  
Happy Sista Devy ◽  
Arsyad Hukmi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Women Directors ◽  
Corporate Value ◽  
Return On Equity ◽  
Csr Reporting ◽  
Company Value ◽  
Price Earnings Ratio ◽  
Corporate Social ◽  
The Relationship

Making of decision and process in operational companies could not be separated or closely related by shareholders such as the Board of Commissioners and Directors. The Existence of Women Directors Towards Color of nuance in Companies, Several studies determined the existance of Women Directors in Companies tend to change the dynamics in the Companies. The purpose of this study was to discover the effect of corporate social responsibility (CSR) on corporate value and to determine the relationship between female directors in moderating between CSR reporting on company value on Islamic shares in Indonesia. The results showed that coporate social responsibility (CSR) had a positive and significant effect on the price earnings ratio (PER) and return on equity (ROE), and the Women Directors could not moderate the influence of CSR on company value.

scholarly journals A LESSON IN VALUATION FROM ESTONIA: THE DIFFERENCE BETWEEN THE FUNDAMENTAL VALUE OF EQUITY UNDER DISTRIBUTED AND TRADITIONAL PROFIT TAXATION SYSTEMS

2018 ◽  
Vol 19 (0) ◽  
pp. 146-156 ◽  
Author(s):  
Mark Kantšukov ◽  
Priit Sander
Keyword(s):  
Value Creation ◽  
Income Tax ◽  
Corporate Value ◽  
Equity Value ◽  
Tax Regimes ◽  
Key Issues ◽  
Theoretical Paper ◽  
The Difference ◽  
Fundamental Value ◽  
The Relationship

Corporate value creation and management are one of the key issues for any business enterprise. A gap exists in research into the implications of the distributed profit taxation (DPT) system in Estonia for corporate value creation. Under the Estonian system of corporate taxation, companies need not pay income tax on undistributed earnings, allowing them to postpone income tax liability indeterminately. This theoretical paper compares the relationship between a company’s equity value and taxation of profits under traditional (or classical) (TPT) and DPT systems. A TPT system is a system where the amount of corporate income tax is determined by the profit the company earned during the taxation period. We show that fundamental equity value under a DPT system should be higher vis-à-vis equity value under a TPT system (ceteris paribus). To illustrate this, we use a dividend discount model and values from a hypothetical company. The equity value under DPT is also higher when financial leverage is considered. The results suggest that conventional valuation models and their inputs should be adjusted when valuing Estonian companies. Ignoring these adjustments runs the risk of undervaluing the equity of Estonian companies, as well as the equity of companies operating under similar tax regimes.

scholarly journals The role of ISR disclosure as moderator the relationship between profitability and leverage towards corporate value

2019 ◽  
Vol 1 (2) ◽  
pp. 58-66
Author(s):  
Reni Susanti ◽  
Imanda Firmantyas Putri Pertiwi
Keyword(s):  
Regression Analysis ◽  
Panel Data ◽  
Firm Value ◽  
Quantitative Research ◽  
Sampling Method ◽  
Secondary Data ◽  
Corporate Value ◽  
Purposive Sampling ◽  
The Relationship

The purpose of this research is to find out the role of ISR disclosure as a moderator of the relationship between profitability and leverage on firm value in companies listed in JII for the 2014-2018 period. This research uses quantitative research using Moderated Regression Analysis (MRA). This study uses secondary data in the form of panel data on companies registered in JII for the 2014-2018 period. The populations in this study are all companies registered in JII during the 2014-2018 period. The sampling method is carried out by purposive sampling by using several criteria to obtain 15 companies used as research samples. The results of this study indicate that profitability and leverage affect the value of the company. The results of the Moderated Regression Analysis (MRA) analysis show that disclosure of the ISR is able to moderate the relationship between profitability and firm value but towards the negative. However, ISR disclosure is not able to moderate the relationship between leverage and firm value.

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