scholarly journals Effect of Managerial Ownership Of Companies Intellectual Capital Value as an intervening variable

2020 ◽  
Vol 3 (1) ◽  
pp. 28-38
Author(s):  
Rafa Izan Rafaizan ◽  
Dewi Kusuma Wardani ◽  
Anita Primastiwi
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Statements ◽  
Partial Least Square ◽  
Least Square ◽  
Managerial Ownership ◽  
Negative Effect ◽  
Capital Value

The purpose of this study is to analyze and explain the effect of managerial ownership on firm value to intellectual capital as an intervening variable. The object of research using 32 banking companies listed in Indonesia Stock Exchange (BEI) for the period from 2015 to 2017 but based on criteria and completeness of the data, the sample in this study only used 24 banking companies. The sampling technique used purposive sampling method. Collecting data using the financial statements of banking companies listed in Indonesia Stock Exchange for the period 2015-2017 that is downloaded via the website IDX www.idx.id. Data were analyzed using Partial Least Square (PLS). The results of this study found that managerial ownership and intellectual capital had a negative effect on firm value, managerial ownership had a negative effect on intellectual capital and managerial ownership had a negative effect on firm value through intellectual capital.

scholarly journals Capital Intelektual, Efisiensi Modal, Kebijakan Deviden, dan Nilai Perusahaan

2021 ◽  
Vol 31 (6) ◽  
pp. 1413
Author(s):  
Eka Ardiansyah
Keyword(s):  
Data Analysis ◽  
Intellectual Capital ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Financial Reports ◽  
Negative Effect ◽  
Capital Efficiency

Stakeholders have a tendency to judge the company in making policies. So that in the company appraisal process, it requires consideration of the various factors that shape the value of the company itself. Therefore, the purpose of this study is to see how much influence intellectual capital, capital efficiency and dividend policy have on the value of companies that have published their financial reports on the Indonesia Stock Exchange (IDX). The total population used was 90 companies and the samples taken were 25 companies in the financial sector. The sampling method uses purposive sampling which aims to ensure that the sample taken can meet the required criteria. Data analysis using PLS (Partial Least Square) in order to be able to analyze many variables at once, data analysis with PLS is assisted by the Smart PLS application. From the research results, it is found that intellectual capital has a positive effect on firm value, while the effect of dividend policy and capital efficiency on firm value has a negative effect. Keywords: Intelectual Capital; Devidend Policy; Capital Efficiency; Corporate Value.

scholarly journals ENTERPRISE RISK MANAGEMENT DAN INTELLECTUAL CAPITAL DISCLOSURE : PERSPEKTIF INVESTOR

2018 ◽  
Vol 8 (2) ◽  
pp. 187 ◽  
Author(s):  
Yolanda Yolanda ◽  
Ihyaul Ulum ◽  
Setu Setyawan
Keyword(s):  
Risk Management ◽  
Intellectual Capital ◽  
Firm Value ◽  
Sampling Technique ◽  
Enterprise Risk Management ◽  
Partial Least Square ◽  
Least Square ◽  
Corporate Value ◽  
Coding System ◽  
Enterprise Risk

This paper aims to examine the effect of corporate value on investor reactions with enterprise risk management (ERM) and intellectual capital disclosure (ICD) as a mediation variable on Indonesian companies listed in the Jakarta Islamic Index in 2016. The sample of this study consists of 25 companies with purposive sampling technique. Five ways numerical coding system and Partial Least Square (PLS) are used as a tool to perform data analysis. The results show that firm value has a significant influence on investor reaction. Unlike the ERM capable of mediating the relationship between corporate value and investor reactions, ICD is unable to mediate.

scholarly journals Pengaruh Profitability, Growth Opportunities Dan Leverage Terhadap Nilai Perusahaan Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia

2020 ◽  
Vol 1 (1) ◽  
pp. 14-35
Author(s):  
Nurwahyuni ◽  
Masdar Mas'ud ◽  
Syamsu Alam ◽  
Asdar Djamareng
Keyword(s):  
Capital Market ◽  
Firm Value ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Growth Opportunities

Penelitian ini bertujuan untuk menguji pengaruh profitabilitas, peluang pertumbuhan dan leverage terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di bursa efek Indonesia. Data dalam penelitian ini diperoleh dari laporan keuangan perusahaan manufaktur yang terdaftar di BEI. Penelitian ini menggunakan data sekunder dengan mengamati dengan mengunjungi metode analisis data Pusat Informasi Pasar Modal (PIPM) menggunakan pendekatan Partial Least Square (PLS). Hasil penelitian menunjukkan bahwa: secara parsial, variabel profitabilitas dan peluang pertumbuhan memiliki pengaruh positif dan signifikan terhadap nilai perusahaan, sedangkan leverage berpengaruh negatif dan signifikan terhadap nilai perusahaan. This study aims to examine the effect of profitability, growth opportunities and leverage on firm value in manufacturing companies listed on the Indonesian stock exchange. The data in this study were obtained from the financial statements of manufacturing companies listed on the IDX. This study uses secondary data by observing by visiting the Capital Market Information Center (PIPM) data analysis method using the Partial Least Square (PLS) approach. The results showed that: partially, profitability and growth opportunities variables had a positive and significant effect on firm value, while leverage had a negative and significant effect on firm value.

scholarly journals PENGARUH GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN MELALUI STRUKTUR MODAL (pada Perusahaan Sektor Property, Real Estate & Building Construction yang Terdaftar di Bursa Efek Indonesia Tahun 2011-2014)

2018 ◽  
Vol 4 (2) ◽  
pp. 15-28
Author(s):  
Nova Adhitya Ananda ◽  
I Nyoman Nugraha Ardana P
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Building Construction ◽  
Construction Company ◽  
Growth Opportunity

ABSTRACT  The purpose of this research is to find the influence of growth opportunity and capital structure on firm value. The research objects used is property, real estate and building construction company which listed in Indonesian Stock Exchange in 2011-2014. This research used a purposive sampling technique in determining the research sample. The number of companies chosen as the sample in 37 company of 54 companies registered in property, real estate and building construction sector. This research was included in the explanatory research using quantitative approach. Data analysis method used in this research is partial least square (PLS) analysis. The result showed that in directly growth opportunity and capital structure has a significant effect on firm value. Growth opportunity undirectly has significant effect on the firm value by means of capital structure. Growth opportunity has a positive and significant effect on capital structure and capital structure has a negative and significant effect on firm value.Keywords : Growth Opportunity, Capital Structure and Firm Value

scholarly journals Liquidity Ratio, Profitability, And Solvency On Stock Returns With Capital Structure As An Intervening Variable (Study On Food And Beverage Sub Sector Listed In Indonesia Stock Exchange (Idx) Period 2013-2017)

2019 ◽  
Vol 3 (1) ◽  
pp. 52
Author(s):  
Agus Sucipto ◽  
Nailul Chasanah
Keyword(s):  
Capital Structure ◽  
Stock Returns ◽  
Negative Impact ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Food And Beverage ◽  
Negative Effect ◽  
The Capital Structure

The stock market is a business field of securities trading one of them stock. For prospective investors, investment decisions in stock must be preceded by a process of analysis of variables which can influence the price of a stock. Investors need to have benchmarks in order to know whether if he invested in a company he would benefit if the shares are sold. Salaah one factor to be a benchmark investor is knowing the financial condition of the company where it can be seen with the financial ratio analysis and management of an optimal capital structure. This study aims to determine the effect of the ratio of liquidity, profitability, and solvency to return stock with a capital structure as an intervening variable.This study uses a quantitative approach. The research method using the method of documentation. Samples were company food and beverage sub-sectors listed in Indonesia Stock Exchange 2013-2017 period. The sampling technique used purposive sampling method with predetermined criteria obtained 11 samples of the company. This study uses data analysis Partial Least Square (PLS).These results indicate that liquidity ratios have a negative impact on stock returns, while the profitability and solvency ratios have no effect on stock returns. The results also show the liquidity ratio and solvency ratio has a negative effect on the capital structure, profitability ratios while not having capital structure. And capital structure has a negative impact on stock returns. The results also show the ratio of liquidity, profitability, and solvency partially no effect on stock returns with the capital structure as an intervening variable.

scholarly journals Intellectual Capital Disclosure, Information Asymmetry, Cost of Capital, and Firm Value: Empirical Studies on Indonesian Manufacturers

2019 ◽  
Vol 2 (1) ◽  
pp. 27-35
Author(s):  
Nadya Gomes I. Gomes I. ◽  
Hatane Semuel ◽  
Devie D.
Keyword(s):  
Information Asymmetry ◽  
Intellectual Capital ◽  
Firm Value ◽  
Cost Of Capital ◽  
Weighted Average ◽  
Partial Least Square ◽  
Least Square ◽  
Separate Analysis ◽  
Negative Effect ◽  
Positive Effect

Signaling theory suggests that when high-quality entities signal their potentials such as intellectual capital to the market, its participants (e.g., investors) re-evaluate their worth and make informed decisions therefrom. This paper examines the consequences of intellectual capital disclosures with respect to firm value, information asymmetry, and cost of capital. Voluntary intellectual capital disclosure (ICD, measured in index) affects firm value (FV, measured in Tobin’s Q) through reducing both information asymmetry (IA, measured in bid-ask spread) and cost of capital (COC, measured in weighted average cost of capital). 67 Indonesian manufacturers were purposively selected whose financial reports published in Indonesian Stock Exchange official website and Bloomberg provide the data for the research. A research model is estimated to the data through a partial least square analysis. Results provides substantial evidence on the positive effect of ICD on FV and negative effect on IA; negative effect of IA on FV; negative effect of COC on FV; and positive effect of IA on COC. On a separate analysis, IA is shown to significantly mediate the relationship between ICD and FV.

scholarly journals MANAGERIAL OWNERSHIP, DIVIDEND POLICY, AND INTELLECTUAL CAPITAL ON CORPORATE VALUES WITH PROFITABILITY AS AN INTERVENING VARIABLE : AN EVIDENCE OF REAL ESTATE AND PROPERTY COMPANIES IN INDONESIA STOCK EXCHANGE

2020 ◽  
Vol 13 (2) ◽  
Author(s):  
Harlyn Lindon Siagian
Keyword(s):  
Real Estate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Managerial Ownership ◽  
Corporate Values ◽  
Company Value ◽  
Property Companies

This study aims to determine Managerial Ownership, Dividend Policy and Intellectual Capital Policy on Corporate Value with Profitability as an intervening variable in real estate and property companies listed in the Indonesia Stock Exchange in 2012-2018. This type of research is causal associative. The sampling technique uses purposive sampling. Data on research were 6 companies was obtained so that the research data were 42. The analysis technique used was multiple regression and path analysis. The results of this study indicate that Dividend Policy affect Profitability, Managerial Ownership does not affects to Profitability and Intellectual Capital does not affect Profitability. Further, Managerial Ownership, Return on Assets, and Intellectual Capital does not affects the Value of the Company, Dividend Policy effect the Company Value. Profitability is an intervening variable between Dividend Policy on Firm Value, Profitability is not an intervening variable between Managerial Ownership of Company Value and Profitability is not an intervening variable between Intellectual Capital.

PENGARUH PROFITABILITAS, STRUKTUR MODAL DAN KEPEMILIKAN MANAJERIAL TERHADAP RETURN SAHAM DENGAN NILAI PERUSAHAAN SEBAGAI VARIABEL MODERATING (Studi Empiris pada Perusahaan Sektor Pertanian di BEI)

2021 ◽  
Vol 6 (1) ◽  
pp. 14
Author(s):  
Rossy Novia Ellidianti ◽  
Murhaban Murhaban ◽  
Andria Zulfa
Keyword(s):  
Capital Structure ◽  
Stock Returns ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Managerial Ownership ◽  
Panel Data Regression ◽  
Data Regression ◽  
Negative Effect ◽  
Positive Effect

This study aims to examine the effect of profitability, capital structure and managerial ownership on stock return with firm value as a moderator veriable in Agricultural Companies in Indonesia Stock Exchange during the period 2009-2018. The number of samples in this study are 10 agricultural companies in the Indonesia Stock Exchange obtained by using purposive sampling technique. Data analysis method used is Panel Data Regression. The results of this study prove that capital structure has negative effect on stock returns, firm value has positive effect on stock returns, profitability and managerial ownership have no significant effect on stock returns. Meanwhile, the moderating effect test prove that firm value is able to moderate the effect of profitability on stock returns, but is unable to moderate the effect of capital structure and managerial ownership on stock returns

scholarly journals An Indonesian Empirical Study of The Relationship between Firm’s Intellectual Capital, Financial Performance and Market Value

2020 ◽  
Vol 9 (4) ◽  
pp. 451-458
Author(s):  
Debby Andria Silviani ◽  
Vitradesie Noekent
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Market Value ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Testing Tool ◽  
Version 2.0 ◽  
The Relationship

The purpose of this study is to explain the effect of Intellectual Capital on the company’s financial performance and market value. The population used in this study are all large trasing subsector companies listed on the Indonesia Stock Exchange during the 2009-2018 studi period. The sampling technique in this study uses a purposive sampling technique that uses criteria that have been determined by researches in order to obtain a sample of 13 companies. The testing tool used is Partial Least Square (PLS) version 2.0. The result of this study indicate that there is a positive and significant influence of intellectual capital on the company’s financial performance and intellectual capital also has a positive and significant on the company’s market value.The suggestion in this research is companie wish to consider the use of intellectual capital to improve financial performance and market value of the company.

scholarly journals Kepemilikan Manajerial, Kepemilikan Institusi dan Komisaris Independen Terhadap Nilai Perusahaan Dengan Peran Integrated Reporting Sebagai Pemoderasi

2020 ◽  
Vol 7 (02) ◽  
pp. 177-184
Author(s):  
Yudi Wahyudin ◽  
Suratno Suratno ◽  
Suyanto Suyanto
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Jel Classification ◽  
Partial Least Square ◽  
Least Square ◽  
Managerial Ownership ◽  
Integrated Reporting ◽  
Good Corporate Governance

ABSTRACT        The purpose of this study is to obtain empirical evidence of the influence of Good Corporate Governance towards Firm Value and after being moderated by the quality of Integrated Reporting. The sample in this study consisted of 95 financial statements of state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange (IDX) in 2014-2018. The analysis technique uses Partial Least Square. The results and findings of the study show that Managerial Ownership and Independent Commissioners do not have affect towards Firm Value, while Institutional Ownership have affect towards Firm Value. Meanwhile, Managerial Ownership and Institutional Ownership do not have affect towards Firm Value after being moderated by Integrated Reporting. Meanwhile Independent Commissioners have a significant effect on Company Value after being moderated by Integrated Reporting. ABSTRAK         Tujuan dalam penelitian ini untuk mendapatkan bukti empiris pengaruh Good Corporate Governance terhadap Nilai Perusahaan dan setelah dimoderasi oleh kualitas Integrated Reporting.  Sampel dalam penelitian ini terdiri dari 95 laporan keuangan perusahaan Badan Usaha Milik Negara (BUMN) yang terdaftar di Bursa Efek Indonesia (BEI) pada tahun 2014-2018.  Teknik analisis menggunakan Partial Least Square.  Hasil dan temuan penelitian menunjukkan bahwa Kepemilikan Manajerial dan Komisaris Independen tidak berpengaruh terhadap Nilai Perusahaan, sedangkan Kepemilikan Institusi berpengaruh terhadap Nilai Perusahaan.  Sementara itu, Kepemilikan Manajerial dan Kepemilikan Institusi tidak berpengaruh terhadap Nilai Perusahaan setelah dimoderasi oleh Integrated Reporting.  Sedangkan Komisaris Independen berpengaruh signifikan terhadap Nilai Perusahaan setelah dimoderasi oleh Integrated Reporting.  JEL Classification : M41, G32

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