Firm Value Reviewing from Debt Policy, Dividend Policy and Ownership Structure

2021 ◽  
Vol 6 (2) ◽  
pp. 7-14
Author(s):  
Adra Mutama ◽  
Zefriyenni ◽  
Sigit Sanjaya
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Estimation Model ◽  
Panel Data Regression ◽  
Data Regression ◽  
Research Population ◽  
Debt Policy

This study aims to determine the extent to which firm value is influenced by the company's dividend policy and ownership structure. The research population is property and real estate companies listed on the Indonesia Stock Exchange for the period 2014-2018, totaling 70 companies. The sample was determined by purposive sampling method, the number of research samples is 20 companies. Data analysis used the estimation model test, classical assumption test, panel data regression, hypothesis testing consisting of the F test and t test. The results showed that: (a) debt policy partially has a positive and significant effect on firm value (b) dividend policy partially has a positive and significant effect on firm value. (c) institutional ownership has a positive and significant effect on firm value. (d) managerial ownership partially has a positive and significant effect on firm value. 

scholarly journals PENGARUH STRUKTUR KEPEMILIKAN, PROFITABILITAS DAN KEBIJAKAN KEUANGAN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019)

2020 ◽  
Vol 5 (2) ◽  
pp. 19-28
Author(s):  
Nadya Shafira Ramadhani ◽  
Ahmad Subaki ◽  
Ahmad Sonjaya
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sample Selection ◽  
Investment Policy ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Policy Variable ◽  
Debt Policy

ABSTRACTThis study aims to determine how the influence of ownership structure, profitability, dividend policy, debt policy and investment policy on company value in manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. In this research, the method of explanation is used. The variables in this study are managerial ownership structure (X1), profitability (X2), dividend policy (X3), debt policy (X4), investment policy (X5) and firm value (Y). The population of this research is manufacturing companies listed on the Indonesia Stock Exchange. The sample selection technique used was purposive sampling. The results of this study indicate that partially managerial ownership has no effect on firm value. Profitability variable partially affects firm value. Dividend policy variable partially has no effect on firm value. The debt policy variable partially affects firm value. The investment policy variable partially affects firm value.  

scholarly journals ANALISIS PENGARUH CAPITAL/LABOUR INTENSIVE, INVESTASI, KEPEMILIKAN MANAJERIAL, LEVERAGE OPERASI DENGAN VARIABEL MEDIASI KEBIJAKAN DIVIDEN DAN LEVERAGE KEUANGAN TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 1 (1) ◽  
pp. 1-21 ◽  
Author(s):  
Robi Nugraha
Keyword(s):  
Path Analysis ◽  
Firm Value ◽  
Stock Exchange ◽  
Financial Sector ◽  
Managerial Ownership ◽  
Financial Leverage ◽  
Panel Data Regression ◽  
Data Regression ◽  
Result Show ◽  
Operating Leverage

ABSTRACT The purpose of this study was to analyze the influence of capital labour intensive, investment, managerial ownership, operating leverage, dividen and financial leverage on the firm value of Indonesia non financial sector companies, the influence of capital labour intensive, investment, managerial ownership, operating leverage variable on dividen and financial leverage of Indonesia non financial sector companies, and the influence of capital labour intensive, investment, managerial ownership, operating leverage variable on the firm value through dividen and financial leverage as intervening variable. The research data was collected using purposive sampling method to the data of non financial sector companies listed on the Indonesian Stock Exchange during the period 2003-2012. Based on the criteria of the study obtained 310 samples were then analyzed Using the panel data regression and path analysis. The results show that the capital labour intensive, investment, managerial ownership, operating leverage, dividen and financial leverage have significant influences on the firm value of Indonesia non financial sector companies. The capital labour intensive, investment, managerial ownership, operating leverage variable do not have significant influences on dividen. The capital labour intensive, investment, managerial ownership, operating leverage variable have significant influences on financial leverage. With path analysis, the result show the The capital labour intensive, investment, managerial ownership, operating leverage variable do not have significant influence on the firm value of Indonesia non financial sector companies with dividen and financial leverage as intervening variable. Keywords: Capital Labour Intensive, Investment, Managerial Ownership, Operating Leverage, Dividen and Financial Leverage, Firm Value.

scholarly journals Pengaruh Struktur Kepemilikan Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening Studi Pada Sektor Property dan Real Estate

2020 ◽  
Vol 8 (2) ◽  
pp. 115
Author(s):  
Sutrisno, Luky Retno Sari
Keyword(s):  
Real Estate ◽  
Firm Value ◽  
Annual Report ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Panel Data Regression ◽  
Data Regression ◽  
Data Collection Technique

<p><em>This study aims to investigate the effect of ownership on firm value with profitability as an intervening variable. The dependent variable used is PBV. While the independent variables used are managerial ownership and institutional ownership. The intervening variable used is ROA. The data in this study used an annual report from 18 property and real estate companies listed on the Indonesia Stock Exchange in 2014 to 2018. The data collection technique used purposive sampling technique obtained from the web www.idx.co.id and each website from the sample company. Data processing uses panel data regression and the results reveal that managerial ownership and institutional ownership have no effect on firm value. While profitability (ROA) is able to mediate institutional ownership of firm value. But profitability (ROA) is not able to mediate managerial ownership of firm value.</em></p>

scholarly journals Pengaruh Kebijakan Dividen, Kebijakan Utang, Profitabilitas, Kepemilikan Manajerial, dan Komite Audit terhadap Nilai Perusahaan

2020 ◽  
Vol 5 (1) ◽  
pp. 41
Author(s):  
Siti Siti ◽  
Ahalik Ahalik
Keyword(s):  
Firm Value ◽  
Audit Committee ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Tobin’S Q ◽  
Manufacturing Companies ◽  
Tobin's Q ◽  
Purposive Sampling ◽  
Debt Policy

Abstrak:Penelitian ini dilakukan dengan tujuan untuk mengetahui pengaruh kebijakan dividen, kebijakan utang, profitabilitas, kepemilikan manajerial, dan komite audit terhadap nilai perusahaan. Teknik pemilihan sampel penelitian ini menggunakan purposive sampling. Sampel dalam penelitian ini adalah sebanyak 75 perusahaan manufaktur yang terdaftar di BEI periode 2013-2017. Data penelitian ini menggunakan data dari laporan keuangan dari setiap perusahaan sampel. Analisis data penelitian ini menggunakan analisis regresi berganda dengan pemakaian SPSS 24. Nilai perusahaan dalam penelitian ini diukur dengan rasio Tobin’s Q. Hasil penelitian ini menunjukkan kebijakan dividen, kebijakan utang, profitabilitas, kepemilikan manajerial dan komite audit secara bersama-sama berpengaruh terhadap nilai perusahaan. Variabel kebijakan dividen (DPR), kebijakan utang (DER), kepemilikan manajerial (KM) dan komite audit (KA) tidak berpengaruh terhadap nilai perusahaan, sedangkan profitabilitas (ROE) berpengaruh positif signifikan terhadap nilai perusahaan.   Kata Kunci:kebijakan dividen, kebijakan utang, nilai perusahaan, profitabilitas.              Abstract:This research was conducted with the aim to determine the effect of dividend policy, debt policy, profitability, managerial ownership, and audit committee on firm value. The technique of selecting this research sample using purposive sampling. The sample in this study were 75 manufacturing companies listed on the Stock Exchange in the period 2013-2017. This research data uses data from financial statements from each sample company. The data analysis of this study uses multiple regression analysis with the use of SPSS 24. The company value in this study is measured by Tobin’s Q ratio. The results of this study indicate dividend policy, debt policy, profitability, managerial ownership and audit committee jointly influence the firm value. The variable dividend policy (DPR), debt policy (DER), managerial ownership (KM) and audit committee (KA) did not affect the value of the company, while profitability (ROE) had a significant positive effect on firm value.   Keywords:dividend policy, debt policy, firm value, profitability

scholarly journals PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG, PROFITABILITAS DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019

2021 ◽  
Vol 4 (1) ◽  
pp. 15-27
Author(s):  
Desi eka Ardiani ◽  
Sri Hermuningsih ◽  
Ratih Kusumawardani
Keyword(s):  
Consumer Goods ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Financial Reports ◽  
Insignificant Effect ◽  
Industrial Companies ◽  
Consumer Goods Industry ◽  
Debt Policy

Penelitian dilakukan guna menganalisis pengaruh kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial terhadap nilai perusahaan subsektor industri barang konsumsi yang telah terdaftar di Bursa Efek Indonesia tahun 2015-2019. Populasi terdiri dari seluruh perusahaan industri barang konsumsi tahun 2015 hingga 2019. Sampel penelitian ini yaitu 8 perusahaan subsektor industri barang konsumsi dan seri waktu 5 tahun dari 2015 sampai 2019. Data didapatkan melalui laporan keuangan tahunan di Bursa Efek Indonesia (BEI) memakai metode purposive sampling yakni didasarkan pada kriteria tertentu. Metode analisis memakai analisis regresi berganda, asumsi kalsik dan uji hipotesis dengan tingkat memakai program SPSS. Hasil yang telah diselesaikan kebijakan dividen(DPR) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kebijakan hutang(DER) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Profitabilitas(ROA) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kepemilikan manajerial(KM) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Kemudian bersama-sama kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial berpengaruh terhadap nilai perusahaan. AbstractThis study aims to analyze the effect of dividend policy, debt policy, profitability, and managerial ownership on the value of the consumer goods industry sub-sector companies that have been listed on the Indonesia Stock Exchange in 2015-2019. The population used is all consumer goods industrial companies from 2015 to 2019. The sample of this research is 8 companies in the consumer goods industry subsector and a 5-year time series from 2015 to 2019. Data is obtained from annual financial reports on the Indonesia Stock Exchange (IDX) using a purposive method. sampling that is based on certain criteria. The analytical method used is multiple regression analysis, calcic assumptions, and hypothesis testing using the SPSS program. The results that have been finalized dividend policy (DPR) have a positive and significant effect on firm value. Debt policy (DER) has a positive and insignificant effect on firm value. Profitability (ROA) has a positive and significant effect on firm value. Managerial ownership (KM) has a positive and insignificant effect on firm value. Meanwhile, collectively, dividend policy, debt policy, profitability, and managerial ownership affect firm value.

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 Parabolic Effect Between Managerial Ownership And Firm Value To Control Agency Conflict

2019 ◽  
Vol 23 (3) ◽  
pp. 355
Author(s):  
Margarita Ekadjaja, Halim.P. Siswanto, K. Nuringsih, R. Amelinda
Keyword(s):  
Firm Value ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Foreign Ownership ◽  
Managerial Ownership ◽  
Agency Conflict ◽  
Financial Firms ◽  
Panel Data Regression ◽  
Data Regression ◽  
Regression Test

This research attempts to place the ownership structure, which includes managerial ownership, institutional ownership, foreign ownership, and concentration ownership as determinants to predict value of the firm. Managerial ownership will be identified and analyzed on its possibility to form the inverse U-shape relationship pattern, therefore the test on parabolic effect between managerial ownership using Tobin’s Q can be conducted. Meanwhile, such test cannot be conducted to the other three independent variables. This test was applied to non-financial firms whose shares were listed on Indonesia Stock Exchange (IDX) during 2000-2017. The result of panel data regression test concludes that managerial ownership can predict value of the firm, while it is not for institutional ownership and foreign ownership.

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 20 (2) ◽  
pp. 117-126
Author(s):  
ANWAR HARSONO
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Capital Expenditure ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Return On Assets ◽  
Final Sample ◽  
Debt Policy

The objective of the research is to obtain empirical evidence on the effect of independent variables of firm size, cash, capital expenditure, dividend policy, debt policy, return on asset, managerial ownership, and institutional ownership to firm value.The population used in this study are non-financial companies listed on the Indonesia Stock Exchange from 2013-2016. Intake of data in this research using purposive sampling method. There are 54 non-financial companies that fit the criteria and were selected as the final sample. This study uses multiple regression analysis to test the hypothesis. The value of firms in this study was measured using Tobins'Q.The empirical results of this study indicate that the variables independent debt policy and return on assets have an influence on firm value, while the variables of firm size, cash, capital expenditure, dividend policy, managerial ownership, and institutional ownership have no effect on firm value.

scholarly journals PENGARUH STRUKTUR KEPEMILIKAN DAN UKURAN (SIZE) PERBANKAN TERHADAP KINERJA PERBANKAN 2009-2014

2018 ◽  
Vol 8 (2) ◽  
pp. 101-111
Author(s):  
Henny Ritha
Keyword(s):  
Panel Data ◽  
Data Processing ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Term Survival ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Government

The ownership structure and size is an important part of long-term survival of banking industry, both of which can affect  the quality of manager (agent) to manage a bank, and encourage shareholders (principals) to manage banking operations in order to improve the performance of the banking system.This study is conducted to analyze the effect of Ownership Structure and size of banks on banks performance. Both Ownership structure which is represented by Institutional Ownership and Managerial Ownership and.size are independend variables, with Return On Equity is used as a proxy for performance valuation. This study used 6 samples of banks listed in Indonesian Stock Exchange for the period 2009-2014. Technique analysis used panel data regression analysis with Microsoft Excel 2003 data processing and Eviews.8. From the results of the panel data processing, the Common Effect Model approach is obtained as the best model for estimating panel data regression model. The research proves that managerial ownership and banks size  have significant impact on banks performance, meanwhile institutional ownership has no significant impact on banks performance. Simultaneously, the three variables have a significant effect and contributed 63.07 percent to the banks performance in Indonesian Stock Exchange from 2009 to 2014, meanwhile the remaining 36,93 percent is  influenced by other variables.Researcher suggests prolonging the research period, extending the sample criteria and increasing the ownership structure of foreign ownership, the government and society as well as adding the variable of Price Earning Ratio (PER) as a proxy for banking performance.

scholarly journals PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN PROPERTI DAN REAL ESTATE

2020 ◽  
Vol 10 (2) ◽  
pp. 119-133
Author(s):  
Verdian Verdian ◽  
Heri Ispriyahadi
Keyword(s):  
Real Estate ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Annual Data ◽  
Substantial Impact ◽  
Panel Data Regression ◽  
Data Regression ◽  
Considerable Impact ◽  
Debt Policy

ABSTRACT This research investigates the effect of profitability, debt policy, and liquidity on the value of the company on property and real estate companies in the Indonesian Stock Exchange. The data in this study is annual data with the period 2010 to 2016. The sampling method used is purposive sampling, which of the population of listed property and real estate companies in the Indonesia Stock Exchange are 49 companies, 32 companies selected as research sample. The independent variables in this research are profitability (ROE), liquidity (CR), and debt policy (DER). The dependent variable in this research is a firm value (PBV). The data analysis method used in this research is panel data regression analysis. The results showed that ROE, DER, and CR had a significant effect on PBV simultaneously. Partially ROE and DER have a substantial impact on PBV, whereas CR is having no considerable impact on PBV. Keywords: profitability, debt policy, liquidity, firm value

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