DO LEVERAGE CONCENTRATION INFLUENCE FIRMS VALUE?

Introduction: The primary objective of financial managers is generally stated to be the maximization of shareholders’ wealth by increasing the firm value. This research was undertaken to investigate the effect of corporate financing decisions on firm value. Method: A sample of 10 investment subsectors companies listed on Indonesia stock exchange for a period of 9 years from 2009-2017 was used. Data were sourced from annual reports of selected firms. The study uses price to book value (PBV) representing firm value for the dependent variable and the corporate financing was measured by Debt equity ratio representing for the independent variable. Ddescriptive analysis, correlation coefficient analysis, coefficient of determination, significance test, linear regression analysis was used for statistical technique for data analysis and hypothesis testing. Result: The study revealed that there is a low significant relationship between financial leverage and firms’ value. It was found that an increase in financial leverage is negatively correlated with firm value. Discussion: The conclusions of this study have practical implications for financial managers of Investment Subsector Companies to include a suitable amount of debt in their equity. The study therefore recommends that financial leverage be optimized by firms to aid maximization of firms’ value.

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Examining the Factors Affecting Firm Values : The Case of Listed Manufacturing Companies In Indonesia

Journal of Accounting Research, Organization and Economics ◽

10.24815/jaroe.v3i1.15532 ◽

2020 ◽

Vol 3 (1) ◽

pp. 62-72

Author(s):

Erika Diana

Keyword(s):

Earnings Management ◽

Firm Value ◽

Stock Exchange ◽

Annual Reports ◽

Company Size ◽

Cash Holding ◽

Manufacturing Companies ◽

Financial Leverage ◽

Factors Affecting ◽

Panel Data Regression

Objective – This study aims to examine the effect of cash holding, earnings management, profitability, company size, and financial leverage on firm value in manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. Design/methodology – This study used hypothesis testing. Samples were selected using purposive sampling as many as 82 companies. Data obtained from annual reports and analyzed using panel data regression analysis method. Results – The results showed that cash holding, earnings management, and profitability as inde-pendent variables, company size and financial leverage as control variables jointly affect the value of the company. Partially, earnings management has no effect on firm value, while cash holding, profitability, company size, and financial leverage have an effect on firm value.

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THE EFFECT OF FIRM SIZE AND LEVERAGE ON VALUE OF THE FIRM (EMPIRICAL STUDY ON BUMN LISTED IN INDONESIAN STOCK EXCHANGE 2012 - 2017)

10.31227/osf.io/txe2m ◽

2019 ◽

Author(s):

novi yanti

Keyword(s):

Regression Analysis ◽

Linear Regression ◽

Multiple Linear Regression ◽

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Hypothesis Test ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Coefficient Of Determination

This study aims to determine affect of size and leverage on firm value of BUMN companies listed on the Stock Exchange in 2012-2017 either partially or simultaneously. The population in this study are all of BUMN companies listed on the Stock Exchange from 2012-2017, which amounted to 20 companies. The sample is in the form of selected BUMN company financial statements with certain criteria from 2012-2017. The analytical method used is multiple linear regression analysis and coefficient of determination. Hypothesis testing uses t test and F test. The results of multiple linear regression analysis indicate that firm size has a negative effect on firm value. Leverage has a positive effect on firm value. The results of the partial hypothesis test indicate that size has a significant effect on firm value while leverage does not have a significant effect on firm value. Simultaneously size and leverage have a significant effect on firm value. The contribution of size and leverage to company value is 43.8% and the remaining 56.2% is influenced by other variables.

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PENGARUH LEVERAGE FINANCIAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA)

Jurnal Ekonomi Balance ◽

10.26618/jeb.v8i2.2188 ◽

2012 ◽

Vol 8 (2) ◽

pp. 116-141

Author(s):

Sri Indira Hartawati

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Financial Leverage ◽

Exchange Data

This study aims to examine and analyze the effect of partially or simultaneously financial leverage and dividend policy on firm value in manufacturing companies on the Indonesian stock exchange. Data collection uses secondary data using purposive sampling technique. The population in this study is the automotive sub-sector manufacturing companies and components listed on the Indonesia stock exchange during the 2014-2016 period of 15 companies, while the samples taken were the number of observations for 3 years (2014-2016) with the number of companies observing 12 obtained were analyzed using multiple linear regression analysis. The results show that all hypotheses have a significant effect based on the t test and F test. This means that both partially and simultaneously financial leverage and dividend policy have a significant effect on firm value in manufacturing companies on the Indonesian stock exchange.

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PENGARUH MODAL INTELEKTUAL TERHADAP NILAI PERUSAHAAN STUDI KASUS PERUSAHAAN INDUSTRI TAMBANG YANG TERDAFTAR DI BURSA EFEK INDONESIA

JAZ:Jurnal Akuntansi Unihaz ◽

10.32663/jaz.v2i2.995 ◽

2019 ◽

Vol 2 (2) ◽

pp. 95

Author(s):

Milda Fitriani Nainggolan ◽

Helvoni Mahrina

Keyword(s):

Intellectual Capital ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Mining Industry ◽

Value Added ◽

Multiple Linear Regression Analysis ◽

Coefficient Of Determination ◽

Company Value ◽

Structural Capital

This study aims to determine how much influence intellectual capital has on firm value. Variable intellectual capital is measured by the pulic model (1998) "Value Added Intellectual Coefficient" (VAIC ™). Company value is measured by Price Book Value (PBV). The research sample used was a mining industry company listed on the Indonesia Stock Exchange (IDX) with the study period of 2013 - 2017. Data were collected by purposive sampling method. The sample used is 19 companies each year. The research method uses the classic assumption test, multiple linear regression analysis, t test, f test and coefficient of determination. The results showed that Value added human capital had no effect on firm value, Value added capital employed had no effect on firm value and Structural capital value added had an effect on firm value.

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PENGARUH CORPORATE SOCIAL RESPONSIBILITY, PROFITABILITAS, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN

National Conference on Applied Business, Education, & Technology (NCABET) ◽

10.46306/ncabet.v1i1.3 ◽

2021 ◽

Vol 1 (1) ◽

pp. 26-37

Author(s):

Fenti Arum Farantika ◽

Dwi Ermayanti Susilo

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Value ◽

Stock Exchange ◽

Statistical Tests ◽

Linear Regression Analysis ◽

Annual Reports ◽

Manufacturing Companies ◽

Quantitative Research Methods ◽

Corporate Social

This study aims to determine the effect of corporate social responsibility, profitability and leverage on firm value in manufacturing companies listed on the Indonesia Stock Exchange 2017-2020. This study uses quantitative research methods. The population in this study amounted to 181 companies and after going through the purposive sampling method, the number of samples used in this study became 30 companies for 4 years with a total of 120 samples. The type of data used in this research is quantitative by using online document collection techniques in the form of annual reports that have been officially published by the IDX in 2017-2020. Data analysis techniques in this study used descriptive statistical tests, classical assumption tests, Multiple Linear Regression Analysis, t test (partial) and f test (simultaneous). The results showed that Corporate Social Responsibility, Profitability, and Leverage had a significant effect on firm value.

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PENGARUH UKURAN PERUSAHAAN, FINANCIAL LEVERAGE, DIVIDEND PAYOUT RATIO, DAN NILAI PERUSAHAAN TERHADAP PERATAAN LABA

Jurnal Akuntansi dan Keuangan ◽

10.23960/jak.v26i1.285 ◽

2021 ◽

Vol 26 (1) ◽

pp. 80-92

Author(s):

Yolanda Sesilia ◽

A. Zubaidi Indra ◽

Chara Pratami Tidespania Tubarad

Keyword(s):

Logistic Regression ◽

Regression Analysis ◽

Firm Size ◽

Firm Value ◽

Sampling Method ◽

Stock Exchange ◽

Income Smoothing ◽

Annual Reports ◽

Financial Leverage ◽

Dividend Payout

This study aimed to examine the effect of Firm Size, Financial Leverage, Dividend Payout Ratio, and Firm Value toward Income Smoothing in BUMN Companies Listed on Indonesia Stock Exchange. Income Smoothing measured by Index Eckel’s. The Population in this study is BUMN companies listed on the Indonesia Stock Exchange in 2015-2019 Based on the purposive sampling method, the sum of a sample obtained from the population is 16 companies. Sources of data obtained from annual reports of companies listed on Indonesia Stock Exchange in 2015-2019. The analytical method for this study uses logistic regression analysis and Mann Whitney test with SPSS 21. Based on the result of the analysis showed Firm Size, Financial Leverage, Dividend Payout Ratio, and Firm Value are not influence Income Smoothing.

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The Effect Analysis of Liquidity, Solvency on Profitability and Its Impact to the Company Value at PT KS, Tbk

Budapest International Research and Critics Institute (BIRCI-Journal) Humanities and Social Sciences ◽

10.33258/birci.v3i4.1451 ◽

2020 ◽

Vol 3 (4) ◽

pp. 3845-3860

Author(s):

Masno Marjohan

Keyword(s):

Firm Value ◽

Manufacturing Industry ◽

Stock Exchange ◽

Annual Reports ◽

Coefficient Of Determination ◽

Return On Assets ◽

Current Ratio ◽

Financial Reports ◽

Effect Analysis ◽

Company Value

he purpose of this study is to analyze the company's ability to pay short-term debt and long-term debt, and this study is also to determine the effect on profitability and its impact on the firm value of the manufacturing industry listed on the Indonesia Stock Exchange (Tbk). The data is obtained from the company's annual reports from 2009 to 2018. The research method used by the author is quantitative descriptive method, by analyzing financial reports with quantitative data obtained from the company's official website and the Indonesia Stock Exchange. Management of statistical data usingEviews.The result of the research is to get the influence between variable X1, variable Y and X2 with variable Y, and simultaneously and variable Y to variable Z (Company value) by using multiple linear analysis obtained a regression equation. Calculation of the coefficient of determination or R Square, This shows that Liquidity (Current Ratio) and Solvency (Debt to Asset Ratio) have an influence on Profotability (Return on Assets) while the rest is influenced by other variables. Partially the liquidity variable (Current Ratio) has a significant influence on Profitability (Return on Assets), while partially there is an insignificant effect of Debt to Asset Ratio on Profitability (Return on Assets).

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PENGARUH LEVERAGE FINANCIAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA)

Jurnal Ekonomi Balance ◽

10.26618/jeb.v15i2.2216 ◽

2019 ◽

Vol 15 (2) ◽

pp. 116-138

Author(s):

Abdul Wahab

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Financial Leverage ◽

Exchange Data

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PENGARUH PROFITABILITAS, GOOD CORPORATE GOVERNANCE, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2013-2015

JEA17: Jurnal Ekonomi Akuntansi ◽

10.30996/jea17.v2i02.3161 ◽

2020 ◽

Vol 2 (02) ◽

Author(s):

Alfi Najihah ◽

I.B.K. Bhayangkara

Keyword(s):

Corporate Governance ◽

Firm Value ◽

Good Governance ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Coefficient Of Determination ◽

Board Members ◽

Company Size ◽

Good Corporate Governance ◽

Food And Beverage

ABSTRACTThis study aimed to test the "Influence of profitability, good corporate governance and company size on the value of the company". Objects used in this study is the food and baverage company listed on the Indonesia Stock Exchange (BEI) in the period 2013 to 2015. The population used in this study is seluh Food and Beverage companies listed in Indonesia Stock Exchange as many as 14 companies. The sampling technique is done is purposive sampling method with the following criteria: (1) Food and Beverage Companies that go public or be listed in the Indonesia Stock Exchange (BEI) during the period from 2013 to 2015, (2) Food and Beverage Company that publishes reports annual (annual Report) during the period from 2013 to 2015, (3) There is a report on the managerial ownership, institutional ownership, the number of board members komimsaris, the number of independent board members, the number of board members, and the number of audit committee members. The number of samples that meet the criteria as much as 5 companies with a span of 3 years of research. Data were analyzed using multiple linear regression analysis. The data is first performed classic assumption test before hypothesis test. Testing the hypothesis in this study using a test using the coefficient of determination, test pasrial / t test and simultaneous / f test. The results showed that the coefficient of determination obtained adjust the value of R Square of 37.9%. Partial assay results indicate the variable (1) Profitability no significant effect on the value of the company (2) Good corporate governance significant effect on the value of the company. (3) The size of the company a significant effect on the value of the company. (4) Profitability, good corporate governance and firm size simultaneously significant effect on firm value The conclusion in this study good corporate governance and company size is a variable that affects the value of the company. Good governance and the size of the company's high will bring a positive signal to investors that the company's value will increase. Keywords: Profitability, Good Corporate Governance, Company Size, and Company Value.

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Pengaruh Kepemilikan Saham, Keputusan Pendanaan, CSR dan Kinerja Keuangan Terhadap Nilai Perusahaan Jasa Konstruksi

Jurnal Riset Inspirasi Manajemen dan Kewirausahaan ◽

10.35130/jrimk.v4i2.87 ◽

2020 ◽

Vol 4 (2) ◽

pp. 58-67

Author(s):

Harsana Harsana ◽

Wulansari Yusniar ◽

Asrid Juniar

Keyword(s):

Financial Performance ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Institutional Ownership ◽

Coefficient Of Determination ◽

Managerial Ownership ◽

Financing Decision ◽

Independent Variables

This study aims to examine and analyze the effect of Managerial Ownership (X1), Institutional Ownership (X2), Financing Decision (X3), CSR (X4) and Financial Performance (X5) as independent variables either partially or simultaneously on Firm Value (Y) as the dependent variable in the Construction Services companies Listed on the Stock Exchange in 2014 - 2018. The method of this research used secondary data from the annual report 2014 to 2018 period in the study sample as many as 10 companies. Assessment of the effect of independent variables on the dependent variable used a multiple linear regression analysis with SPSS Ver. 25. The results of this study concluded that there is a significant negative effect of managerial ownership and institutional ownership on firm value. The financing decision is a significant positive effect on firm value. Meanwhile, both CSR and financial performance has no significant effect on firm value. Simultaneously, the independent variables can sufficiently explain the variation value of the company with 58.8% coefficient of determination.

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