scholarly journals ANALISIS PENGARUH LIKUIDITAS SAHAM TERHADAP NILAI PERUSAHAAN MELALUI KEPUTUSAN MANAJEMEN KEUANGAN (STUDI PADA PERUSAHAAN LQ45 DI BURSA EFEK INDONESIA, PERIODE 2016 - 2018)

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Giovanni Edward Margali ◽  
Marjam M. Mangantar ◽  
Ivonne S. Saerang
Keyword(s):  
Indirect Effect ◽  
Financial Management ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Market Liquidity ◽  
Company Performance ◽  
Management Decisions ◽  
Stock Liquidity ◽  
Dividend Policies

LQ 45 is one of the indices on the Indonesia Stock Exchange (IDX), where indexes are obtained by calculating with valuations such as liquidity, in the sense. There are compelling reasons to think that market liquidity will affect company performance. Because of the level of selling power of these shares, it plays a central role in corporate governance, approval and performance. This research itself wants to see the effect of direct liquidity on firm value and the indirect effect of liquidity on firm value by moderating financial management decisions regarding investment decisions, dividend policies and purchasing decisions.In this study,the researchers found that stock liquidity directly affected the value of the company, and stock liquidity did not affect financial management decisions (investment decisions, dividend policies and funding decisions) which would later have an indirect effect on firm value.Keywords : stock liquidity, investment decisions, dividend policy, funding decisions, company value.

scholarly journals PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DEVIDEN TERHADAP NILAI PERUSAHAAN

2020 ◽  
Vol 14 (1) ◽  
Author(s):  
Tania Ivanna A. Tanto ◽  
Aaron M. A. Simanjuntak ◽  
Bill J.C Pangayow
Keyword(s):  
Financial Management ◽  
Firm Value ◽  
Stock Price ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Dividend Policies ◽  
Company Value ◽  
Financial Decision

The value of the company is very important because the high value of the company will be followed by the high prosperity of shareholders. The higher the stock price, the higher the value of the company, in order to achieve company value, investors generally give their management to professionals. Optimizing company value can be achieved through the implementation of financial management functions, where one financial decision taken will influence other financial decisions and have an impact on the value of the company. This study aims to determine the effect of investment decisions, funding decision taken will influence other financial decision and have an impact on the value of the company. This study aims to determine the effect of investment decisions, funding decisions and dividend policies on firm value. The population in this study are all companies listed on the Indonesia Stock Exchange for the period 2014-2016 while sample selection using purposive sampling technique obtained 89 companies that will be used as samples in this study. The hypothesis testing uses multiple regression analysis. The results of the study partially show that investment decision affect the value of the company, funding decisions do not affect the value of the company and dividend policy does not affect the value of the company. While the simultaneous research resultshows that investment decisions, funding decisions and dividend policies have a significant effect on firm value

Pengaruh Keputusan Investasi, Kebijakan Hutang Dan Kebijakan Dividen Terhadap Nilai Perusahaan

2019 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Ivan Somantri ◽  
Hadi Ahmad Sukardi
Keyword(s):  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Mining Sector ◽  
Dividend Policies ◽  
Negative Effect ◽  
Debt Policy ◽  
Debt Policies

This study aims to determine how to influence simultaneously and partially investment decisions, debt policy and dividend policy on firm value in mining sector companies listed on the Indonesia Stock Exchange for the period 2013-2017. The research method used in this study is descriptive and associative methods. The population in this study were mining sector companies listed on the Indonesia Stock Exchange in the period 2013-2017, which amounted to 43 companies. The sampling technique used in this study is non probability sampling with purposive sampling method, so that the number of samples obtained is 8 companies. While the data analysis used in this study is panel data regression analysis with the fixed effect method. The results of the study show that partially investment decisions and debt policies have a positive effect on firm value. While dividend policy has a negative effect on firm value. In addition, the results of the study simultaneously show that investment decisions, debt policies and dividend policies affect the value of the company. The amount of investment decisions, debt policy and dividend policy in contributing influence to earnings management is 34.14%.

LIQUIDITY AND FIRM VALUE IN AN EMERGING MARKET

2019 ◽  
Vol 64 (02) ◽  
pp. 365-376 ◽  
Author(s):  
JONATHAN BATTEN ◽  
XUAN VINH VO
Keyword(s):  
Firm Performance ◽  
Stock Market ◽  
Firm Value ◽  
Stock Exchange ◽  
Emerging Market ◽  
Developed Countries ◽  
Market Liquidity ◽  
Ho Chi Minh City ◽  
Stock Liquidity ◽  
Negative Relation

This paper investigates the link between stock market liquidity and firm value in an important emerging market, Vietnam. Specially, we examine this relationship using a sample of firms listed on the Ho Chi Minh City stock exchange for the period 2006–2014. We show that there is a negative relation between liquidity and firm value. This outcome is contrary to previous results for many developed countries. Further, we demonstrate that this result may be explained by differences in leverage effects and pricing-based theories, where stock liquidity influences firm performance via an illiquidity premium or mispricing.

scholarly journals THE INFLUENCE OF FINANCIAL MANAGEMENT FUNCTION TOWARDS COMPANY'S SKILLS AND VALUES IN INDONESIA’S CONSUMPTION GOODS INDUSTRY

2019 ◽  
Vol 7 (10) ◽  
pp. 195-212
Author(s):  
Adisthy Shabrina Nurqamarani ◽  
LCA. Robin Jonathan ◽  
Theresia Militina
Keyword(s):  
Consumer Goods ◽  
Financial Management ◽  
Firm Value ◽  
Investment Decisions ◽  
Path Coefficient ◽  
Corporate Value ◽  
Data Types ◽  
Dividend Policies ◽  
Consumer Goods Industry ◽  
Management Functions

This study aims to analyze and determine the effect of financial management functions in the form of investment decisions, funding decisions and dividend policies on profitability and corporate value in publicly listed companies within consumer goods industry in Indonesia during 2013-2015. The population of the consumer goods industry sector that went public (www.idx.co.id) was 37 issuers and examined the financial statements of 32 issuers that distributed dividends in 2013-2015. This research is a quantitative study of causality among several variables. The data used are cross section data and secondary data types in the form of financial reports published on the Indonesia Stock Exchange, literature and research from other parties. By using financial ratios related to financial management functions: investment decisions, funding decisions, dividend policy as an independent variable and profitability and firm value as the dependent variable, using path analysis assisted with the SPSS version 20, can be seen the magnitude of influence shown by the path coefficient on each path diagram of the causal relationship between the independent variables to the dependent variable. The results showed that the functions of financial management have a significant effect on profitability. Investment decisions and profitability of companies have a positive and significant effect on firm value, while funding decisions and dividend policies have no significant effect on firm value. Proficiency does not have a significant effect in mediating the functions of financial management on firm value. But in terms of probability, it helped strengthen the influence of financial management functions on corporate value.

scholarly journals PENGARUH ALMA TERHADAP KINERJA KEUANGAN DAN NILAI PERUSAHAAN PADA BANK YANG TERDAFTAR DI BURSA EFEK INDONESIA

2020 ◽  
Vol 14 (2) ◽  
pp. 84-96
Author(s):  
Rustan DM
Keyword(s):  
Financial Performance ◽  
Indirect Effect ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Company Performance ◽  
Company Value ◽  
Endogenous Variables ◽  
Negative Effect ◽  
Descriptive Approach

This study aims to determine the effect of ALMA on financial performance with Entity Value as an intervening variable. This type of research used a descriptive approach and explanatory approach, with exogenous variables namely ALMA and endogenous variables are financial performance and firm value. This study takes the population of all publicly listed banks listed on the IDX, as many as 37 (thirty seven) banks. In determining the sample, a purposive sampling technique was used. This study found that ALMA had a negative effect on company performance. ALMA has an indirect effect on firm value, company performance has an indirect effect on company value, ALMA through Company Performance has an indirect and significant effect on company value on several banks listed on the Indonesia Stock Exchange. The optimal application of ALMA enables all series of banking activities to be effective, efficient and effective.

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 Pengaruh Keputusan Pendanaan, Keputusan Investasi, Kebijakan Dividen, Dan Arus Kas Bebas Terhadap Nilai Perusahaan

2020 ◽  
Vol 8 (3) ◽  
pp. 263-276
Author(s):  
Muhammad Fadly Bahrun ◽  
Tifah Tifah ◽  
Amrie Firmansyah
Keyword(s):  
Cash Flow ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Investment Decisions ◽  
Total Sample ◽  
Multiple Linear Regression Analysis ◽  
Free Cash Flow ◽  
Dividend Policies ◽  
Negative Effect

This study examines the effect of funding decisions, investment decisions, dividend policies, and free cash flow on firm value. The samples used in this study are consumer goods industry companies listed on the Indonesia Stock Exchange (IDX) during 2016-2019. Based on purposive sampling, the selected sample is 34 companies, so that the total sample is 136 observations. Hypothesis testing is carried out using multiple linear regression analysis of panel data. The test results show that funding decisions positively affect firm value, while investment decisions do not affect firm value. This study also shows that dividend policy and free cash flow have a negative effect on firm value.

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

Conditional stock liquidity premium: is Warsaw stock exchange different?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Szymon Stereńczak
Keyword(s):  
Emerging Markets ◽  
Stock Returns ◽  
Stock Exchange ◽  
Emerging Market ◽  
Market Liquidity ◽  
Investment Horizon ◽  
Liquidity Premium ◽  
Stock Liquidity ◽  
Content Type ◽  
Bear Market

Purpose This paper aims to empirically indicate the factors influencing stock liquidity premium (i.e. the relationship between liquidity and stock returns) in one of the leading European emerging markets, namely, the Polish one. Design/methodology/approach Various firms’ characteristics and market states are analysed as potentially affecting liquidity premiums in the Polish stock market. Stock returns are regressed on liquidity measures and panel models are used. Liquidity premium has been estimated in various subsamples. Findings The findings vividly contradict the common sense that liquidity premium raises during the periods of stress. Liquidity premium does not increase during bear markets, as investors lengthen the investment horizon when market liquidity decreases. Liquidity premium varies with the firm’s size, book-to-market value and stock risk, but these patterns seem to vanish during a bear market. Originality/value This is one of the first empirical papers considering conditional stock liquidity premium in an emerging market. Using a unique methodological design it is presented that liquidity premium in emerging markets behaves differently than in developed markets.

scholarly journals Pengaruh Profitabilitas, Kualitas Laba Dan Keputusan Investasi Terhadap Nilai Perusahaan

2020 ◽  
Vol 2 (4) ◽  
pp. 3828-3839
Author(s):  
Reza Refki Tanggo ◽  
Salma Taqwa
Keyword(s):  
Data Analysis ◽  
Firm Value ◽  
Stock Exchange ◽  
Earnings Quality ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Total Sample ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Positive Effect

The purpose of this study was to analyze: (1) The effect of profitability on firm value. (2) The effect of earnings quality on firm value. (3) The effect of investment decisions on firm value. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2014-2018. While the sampling technique in this study is using purposive sampling technique with a total sample of 300 samples. The data analysis method used is multiple regression using SPSS 25 software. The results of this study indicate that: (1) profitability has a positive and significant effect on firm value with a significance of 0.000 < 0.05. (2) earnings quality has a positive and insignificant effect on firm value with a significance of 0.757 > 0.05. (3) investment decisions have a positive effect and not on the value of the company with a significance of 0.418 > 0.05

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