scholarly journals Effect of Liquidity And Investment Decisions on Firm Value With Profitabilitas as Intervening Variable

2022 ◽  
pp. 1-11
Author(s):  
Disty Wahyu Suryani ◽  
Fitri Yeni
Keyword(s):  
Path Analysis ◽  
Firm Value ◽  
Investment Decisions ◽  
Purposive Sampling

Penelitian ini dimaksudkan untuk meestimasi seberapa berpengaruh Likuiditas dan Keputusan Investasi terhadap Nilai Perusahaan.dengan.Profitabilitas.sebaga..variabel intervening. Studi ini memakai populasi seluruh.perusahaan sektor manufaktur yang terdaftar di.Bursa.Efek.Indonesia periode 2018-2020 sebanyak 193 perusahaan dengan jumlah sampel 93 perusahaan yang diperoleh melalui metode purposive sampling. Desain studi yang digunakan kuantitatif dengan cara penghimpunan data sekunder. Penelitian ini menggunakan metode path analysis dengan alat pengolahan data SPSS 25. Variabel independen dalam penelitian yaitu Likuiditas (CR) dan Keputusan Investasi (PER) sedangkan variabel dependennya yaitu Nilai Perusahaan (NP) serta Profitabilitas (ROA) sebagai variabel intervening. Hasil studi membuktikan Likuiditas (CR) dan Keputusan Investasi (PER) berpengaruh signifikan terhadap Profitabilitas (ROA) pada perusahaan manufaktur yang terdaftar di Busra Efek Indonesia perioe 2018-2020. Likuiditas (CR) dan Keputusan Investasi (PER) berpengaruh signifikan terhadap Nilai Perusahaan (NP) sedangkan Profitabilitas (ROA) berpengaruh tidak signifikan terhadap Nilai Perusahan (NP) pada perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia periode 2018-2020. Profitabilitas (ROA) tidak mampu memediasi hubungan antara Likudiitas (CR) terhadap Nilai Perusahaan (NP) pada perusahaan manufaktur yang terdaftar di Bursa Efek.Indonesia periode 2018-2020. Profitabilitas (ROA) mampu memediasi hubungan antara Keputusan Investasi (PER) terhadap Nilai Perusahaan (NP) pada perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia periode 2018-2020, konstribusi Likuiditas (CR) dan Keputusan Investasi (PER) terhadap Profitabilitas (ROA) sebesar 12,9% sedangkan 87,1% merupakan variabel di luar penelitian yang telah dilakukan. Kontribusi Likuiditas (CR), Keputusan Investasi (PER) dan Profitabilitas (ROA) sebesar 26% sedangkan 74% merupakan variabel di luar penelitian yang telah dilakukan

Peran kepemilikan institusional, perencanaan pajak dan dewan komisaris asing terhadap nilai perusahaan

2019 ◽  
Vol 8 (2) ◽  
Author(s):  
Anita Ade Rahma ◽  
Lisa Nabawi ◽  
Ronni Andri Wijaya
Keyword(s):  
Significant Influence ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Total Sample ◽  
Tax Planning ◽  
Purposive Sampling ◽  
Institutional Leadership ◽  
Company Value

The purpose of this study is to analyze the role of institutional leadership, tax planning and foreign board of commissioners on firm value. The population in this study were 615 companies listed on the Indonesia Stock Exchange in 2015-2017. The sample was chosen using purposive sampling to get a total sample of 325 companies with a total of 975 observations of company data. The results of this study indicate that institutional leadership and tax planning have no role in increasing company value. While the foreign board of commissioners showed a significant influence on the value of the company. This proves that there is a need for diversity in the structure of the board that can trigger an increase in the value of the company. In addition, the presence of a foreign board is needed for the progress of the companyKeywords: Investment decisions; funding decisions; dividend policy; company value

scholarly journals PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI MEDIATOR PADA PERUSAHAAN PEMBIAYAAN

2019 ◽  
Vol 9 (1) ◽  
Author(s):  
Ni Ketut Sulastri ◽  
Ni Ketut Surasni
Keyword(s):  
Data Analysis ◽  
Capital Structure ◽  
Path Analysis ◽  
Firm Value ◽  
Analytical Tool ◽  
Purposive Sampling ◽  
Analysis Technique ◽  
Finance Company ◽  
The Capital Structure

This study aims to analyze the effect of profitability on capital structure, the effect of capital structure on firm value, the effect of profitability on firm value and analyze the effect of profitability on firm value through the capital structure of finance companies on the IDX. This type of research is causal associative research. The population of this study is a finance company listed on the IDX, while the selected sample consists of 11 companies. Determination of samples with Purposive sampling. The data analysis technique uses Path Analysis (path analysis) and the analytical tool used is IBM SPSS 23. The results show that (1) profitability has a positive and not significant effect on capital structure (2) the capital structure has a positive and not significant effect on firm value ( 3) profitability has a positive and significant effect on firm value (4) capital structure is not able to mediate the influence of profitability on firm value.Keywords:Perusahaan Pembiayaan;Profitabilitas;Nilai Perusahaan;Struktur Modal

scholarly journals Pengaruh profitabilitas, leverage, likuiditas, struktur modal dan keputusan investasi terhadap nilai perusahaan pada perusahaan sektor keuangan yang terdaftar di Bursa Efek Indonesia Tahun 2015-2017

2021 ◽  
Vol 16 (1) ◽  
pp. 37-50
Author(s):  
Peffi Manalu ◽  
Getsmani Getsmani ◽  
Citra Permatasari Hutagaol ◽  
Deasy Arisandy Aruan
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Financial Sector ◽  
Quantitative Approach ◽  
Research Approach ◽  
Purposive Sampling ◽  
Study Population

This study aims to determine the effect of profitability, leverage, liquidity, capital structure, and investment decisions on firm value. A research approach is a quantitative approach. The study population was taken from financial sector companies that have been listed on the Indonesia Stock Exchange 2015-2017, namely from a total of 87 companies, 39 companies were taken. The sample applies the purposive sampling technique. The research successfully proves that profitability, leverage, liquidity, capital structure, and investment decisions have a positive and significant effect on firm value. Partially, the research results are only profitability which has a positive and significant effect on firm value. So that the Adj obtained. R Square 13.1% with the remaining 86.9% influenced by outside variables. Keywords: Profitability,Leverage, Liquidity, Capital structure, Investment decisions, Firm value

scholarly journals PENGARUH LEVERAGE, RETURN ON EQUITY (ROE), DAN FIRM SIZE TERHADAP FIRM VALUE DENGAN DIVIDEND POLICY SEBAGAI VARIABEL INTERVENING

2020 ◽  
Vol 15 (1) ◽  
pp. 105-126
Author(s):  
Suci Atiningsih ◽  
Nurul Latifah Pancawardani ◽  
Mohklas .
Keyword(s):  
Path Analysis ◽  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Return On Equity ◽  
Purposive Sampling ◽  
Analysis Methods

This study aims to determine the effect of leverage, return on equity (ROE), and firm size on firm value with dividend policy as an intervening variable.Data analysis methods to test hypotheses using Path Analysis Methods. The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange in the period 2012-2017. The samples in this study were determined by purposive sampling, so that the number of companies obtained was 44 companies with 264 samples.The results show that leverage has a negative and significant effect on dividend policy. Return on equity (ROE) has no significant effect on dividend policy. Firm size has a positive and significant effect on dividend policy. Dividend policy, return on equity (ROE), and firm size have a positive and significant effect on firm value. Leverage does not have a significant effect on firm value. Dividend policy cannot mediate the effect of leverage, return on equity (ROE) and firm size on firm value

scholarly journals Pengaruh Modal Intelektual, Set Kesempatan Investasi Terhadap Kinerja Keuangan Dan Nilai Perusahaan Makanan dan Minumam Yang Terdaftar Pada BEI Periode 2012-2016

SKETSA BISNIS ◽  
2020 ◽  
Vol 7 (2) ◽  
pp. 84-93
Author(s):  
Nurul Mufida ◽  
Muhammad Saifi ◽  
Ari Darmawan
Keyword(s):  
Financial Performance ◽  
Path Analysis ◽  
Intellectual Capital ◽  
Firm Value ◽  
Capital Investment ◽  
Intangible Asset ◽  
Company Performance ◽  
Investment Opportunity ◽  
Purposive Sampling ◽  
Investment Opportunity Set

In addition to increasing intangible assets, the company will also see the future by implementing policies regarding investment decisions to increase company performance and company value. For this reason, the purpose of this study is to examine the effect of intellectual capital, investment opportunity sets on company performance and firm value in food and beverage companies listed on the IDX for the period 2012-2106. The study population numbered 14 companies, while the sample used in this study was taken using purposive sampling, the number of samples taken in this research proposal is 11 samples that meet the criteria used. This study uses path analysis. The results of this study indicate that intellectual capital has no significant effect on financial performance, negative intellectual capital is not significant towards firm value, the investment opportunity set has a negative effect on financial performance. The investment opportunity set has a positive and significant effect on firm value, financial performance has a significant positive effect on firm value. ___________________________________________________________________ Perusahaan selain meingkatkan intangible asset, disisi lain perusahaan juga akan melihat masa depan dengan melakukan kebijakan mengenai keputusan investasi  untuk menigkatkan kinerja perusahaan dan nilai perusahaan. Untuk itu tujuan penelitian ini adalah menguji pengaruh modal intelektual, set kesempatan investasi terhadap kinerja perusahaan dan nilai perusahaan pada perusahaan makanan dan minuman yang terdaftar pada BEI periode 2012-2106. Populasi penelitian berjumlah dengan jumlah 14 perusahaan, sedangkan  Sampel yang digunakan dalam penelitian ini diambil dengan menggunakan purposive sampling, banyaknya sampel yang diambil dalam usulan penelitian ini adalah 11 sampel yang memenuhi kriteria yang digunakan. penelitian ini menggunakan analisis jalur (path analysis), Hasil penelitian ini menunjukkan modal intelektual tidak berpengaruh signifikan terhadap kinerja keuangan, modal intelektual negatif tidak signifikan  terhadap nilai perusahaan, set kesempatan investasi berpengaruh negative pada kinerja keuangan. Set kesempatan investasi berpengaruh positif dan signifikan terhadap nilai perusahaan, kinerja keuangan berpengaruh positif signifikan terhadap nilai perusahaan.

scholarly journals Pengaruh Tingkat Penghindaran Pajak terhadap Nilai Perusahaan dengan Biaya Agensi sebagai Variable Mediasi

2021 ◽  
Vol 5 (6) ◽  
pp. 583
Author(s):  
Centisya Ariska
Keyword(s):  
Path Analysis ◽  
Firm Value ◽  
Hypothesis Test ◽  
Tax Avoidance ◽  
Agency Cost ◽  
Avoidance Rate ◽  
Tax Rate ◽  
Purposive Sampling

This study aims to analyze and determine the effect of tax avoidance rate on the value of the firm and agency cost as a mediation in manufacturing industry’s companies that listed in BEI in 2015-2019. With purposive sampling, the researcher found 45 companies matched with the research. The researcher used Path Analysis and regression for hypothesis test and found the result that tax avoidance is significant to firm value and agency cost, agency cost is significant to firm value, and mediation in partial relationship between tax rate avoidance and firm value. Penelitian ini bertujuan untuk mengetahui pengaruh dari tingkat penghindaran pajak terhadap nilai perusahaan dan biaya agensi sebagai mediasinya dalam perusahaan industri manufaktur yang terdaftar di BEI tahun 2015-2019. Dengan menggunakan purposive sampling, didapatkan 45 perusahaan yang tepat untuk penelitian ini. Peneliti menggunakan metode analisis jalur dan regresi untuk pengujian hipotesis. Hasilnya adalah tingkat penghindaran pajak signifikan terhadap nilai perusahaan dan biaya agensi. Biaya agensi juga signifikan terhadap nilai perusahaan dan memediasi secara parsial hubungan antara tingkat penghindaran pajak dan nilai perusahaan.

scholarly journals Pengaruh Good Corporate Governance Terhadap Firm Value Yang Dimediasi Oleh Return On Assets pada Perusahaan Sektor Pertambangan Batubara Yang Terdaftar Di Bursa Efek Indonesia

2021 ◽  
Vol 4 (1) ◽  
pp. 114-127
Author(s):  
Rini Agustina
Keyword(s):  
Corporate Governance ◽  
Path Analysis ◽  
Firm Value ◽  
Return On Assets ◽  
Purposive Sampling ◽  
Good Corporate Governance

Penelitian ini dilakukan untuk menguji pengaruh Good Corporate Governance terhadap Firm Value dengan Return On Assets sebagai variabel intervening. GCG yang digunakan dalam penelitian ini adalah indikator kepemilikan manajerial dan kepemilikan institusional. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2015- 2018. Pemilihan sampel dilakukan dengan metode purposive sampling dari 22 perusahaan sektor pertambangan batubara diperoleh 11 perusahaan sampel yang memenuhi syarat. Teknik analisis data yang digunakan adalah analisis rasio keuangan untuk mengetahui kondisi rasio keuangan perusahaan dari variabel yang diteliti, analisis jalur (Path Analysis) untuk mengetahui besarnya sumbangan (kontribusi) yang ditunjukkan oleh koefisien jalur pada setiap diagram jalur, uji hipotesis menggunakan t-statistik dan F-statistik selain itu juga dilakukan uji asumsi klasik yang meliputi uji normalitas, uji multikolinearitas, uji heteroskedastisitas dan uji autokorelasi. Selama periode pengamatan menunjukkan bahwa data penelitian berdistribusi normal. Berdasarkan uji normalitas, uji multikolinearitas, uji heteroskedastisitas dan uji autokorelasi tidak ditemukan variabel yang menyimpang dari asumsi klasik. Hasil penelitian ini menunjukkan bahwa: 1) GCG yang diproksi Kepemilikan Manajerial memiliki nilai negatif dan tidak signifikan terhadap FV, dan Kepemilikan Institusional memiliki nilai negatif dan tidak signifikan terhadap FV 2) GCG yang di proksikan dengan Kepemilikan Manajerial menyatakan nilai negatif dan tidak signifikan terhadap ROA,dan hasil pengujian Kepemilikan Institusional terhadap ROA menyatakan bahwa nilai positif dan tidak signifikan terhadap ROA,  3) ROA memiliki nilai negatif dan berpengaruh signifikan terhadap FV, 4) GCG terhadap FV yang dimediasi oleh ROA memiliki pengaruh. Disarankan pada penelitian berikutnya untuk menambah variabel lainnya dalam penelitian ini.

scholarly journals Pengaruh Keputusan Investasi, Keputusan Pendanaan, dan Kebijakan Dividen, Terhadap Nilai Perusahaan

2021 ◽  
Vol 4 (1) ◽  
pp. 1-19
Author(s):  
Umi Nur Handayani ◽  
Heny Kurnianingsih
Keyword(s):  
Firm Value ◽  
Quantitative Research ◽  
Manufacturing Industry ◽  
Positive Impact ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Purposive Sampling ◽  
Dividend Policies ◽  
Basic Industry ◽  
The Impact

This research aims to examine and recognize the impact of investment decisions, funding and dividend policies on the value of companies in the basic industry and chemical sectors on the Indonesia Stock Exchange. Investment decisions, funding and dividend policy are determined as independent variables. Conversely, the value in the company as the dependent variable. The research uses quantitative research, the data processing procedure uses the SPSS version 25. The population in this research is companies in the basic industrial and chemical fields from year 2015 to 2019. Sample is selected by determining certain criteria using purposive sampling method and sample determination. A total of a total of 56 companies are selected as sample. The analysis in this research was tested with multiple linear regression. The research results show that (1) investment decisions have a positive impact on the value in the company; (2) decisions for funding and dividend policies that have no impact on firm value. The research that was carried out limited some of the factors studied. The object of research was limited to the manufacturing industry in the basic and chemical business sectors on the Indonesia Stock Exchange.Riset ini bermaksud dalam mengkaji dan mengenali dampak keputusan dalam investasi, pendanaan serta kebijakan dividen pada nilai dalam perusahaan di sektor industri dasar serta kimia di Bursa Efek Indonesia (BEI). Keputusan investasi, pendanaan serta kebijakan dividen ditentukan sebagai variabel bebas. Sebaliknya nilai dalam perusahaan selaku variabel terikat. Riset memakai jenis riset kuantitatif, prosedur pengolahan data menggunakan program SPSS versi 25. Populasi pada riset ini yakni perusahaan pada bidang perindustrian dasar dan kimia dalam kurun waktu 2015 sampai dengan 2019. Pemilihan sampel dengan menetapkan kriteria tertentu dengan memakai tata cara purposive sampling. Didapatkan 56 perusahaan yang dijadikan sampel. Analisis dalam riset ini diuji dengan regresi linear berganda. Hasil penelitian menunjukkan bahwa (1) keputusan investasi memberi dampak dengan arah positif pada nilai dalam perusahaan; (2) keputusan untuk pendanaan dan kebijakan dividen yang tidak mempunyai dampak bagi nilai perusahaan. Riset yang dilakukan membatasi beberapa faktor yang diteliti. Objek penelitian terbatas hanya industri manufaktur pada bidang usaha dasar dan kimia pada Bursa Efek Indonesia.

scholarly journals Corporate Governance, Tax Avoidance, and Firm Value

2018 ◽  
Vol 2 (02) ◽  
pp. 92
Author(s):  
Wawan Cahyo Nugroho ◽  
Dian Agustia
Keyword(s):  
Corporate Governance ◽  
Path Analysis ◽  
Firm Value ◽  
Stock Exchange ◽  
Tax Avoidance ◽  
Institutional Ownership ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Analysis Technique ◽  
Executive Incentives

<p><em>This study aims to examine: (1) the influence of institutional ownership, independent commissioners on tax avoidance on firm value (2) the influence of tax avoidance on firm value (3) the influence of institutional ownership, independent commissioner to firm value mediated by tax avoidance. The population of this study are manufacturing companies listed on the Indonesian Stock Exchange for the study from 2013-2016. This study purposive sampling and arrived at 92 firms, using path analysis technique. The results of this study indicates that (1) institutional ownership significantly influence tax avoidance (2) independent commissioners have no influence on tax avoidance; (3) institutional ownership does not influence the firm value; (4) independent commissioner and tax avoidance have significant effect to firm value; (5) tax avoidance does not mediate the institutional ownership relationship to firm value.</em><em> </em><em></em></p><strong><em>Keywords: </em></strong><em>Executive Incentives, Firm Value, Independent Commissioners, Institutional Ownership, Profitability, and Tax Avoidance</em>

scholarly journals PENGARUH VOLATILITAS ARUS KAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN YANG DIMEDIASI OLEH PERATAAN LABA

AJAR ◽  
2020 ◽  
Vol 3 (01) ◽  
pp. 1-20
Author(s):  
Norbertus Domentris Bouk ◽  
Oktavianus Pasoloran ◽  
Suwandi Ng
Keyword(s):  
Path Analysis ◽  
Cash Flow ◽  
Significant Relationship ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Income Smoothing ◽  
Empirical Examination ◽  
Purposive Sampling ◽  
Cash Flow Volatility

This research aims to test 1) the influence of cash flow volatility to income smoothing, 2) the influence of cash flow volatility to firm value, 3) the influence of leverage to income smoothing, 4) the influence of leverage to firm value, 5) the influence of income smoothing to firm value, 6) the effect of volatility cash flow toward firm value and income smoothing as intervening variable, 7) the effect of leverage toward firm value and income smoothing as intervening variable. The sample used in this study were non-financial companies listed on the Indonesia Stock Exchange from 2013-2017. The sample were selected using purposive sampling method. The number of sample resulted from this method are 139 companies. The result of empirical examination using path analysis gives result that 1) cash flow volatility has positive and significant relationship to the income smoothing, 2) cash flow volatility has positive and significant relationship to the firm value, 3) leverage has negative and significant relationship to income smoothing, 4) leverage has negative and significant relationship to the firm value 5) income smoothing has positive and unsignificant to firm value. In addition, using Sobel test, the result shows that income smoothing hasn’t play a role in mediating cash flow volatility and leverage toward firm value.

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