Analisa Nilai Perusahaan Ditinjau dari Profitabilitas dan Struktur Modal dengan Ukuran Perusahaan sebagai Variabel Intervening (Studi Empiris pada Perusahaan Subsektor Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2015 – 2018)

This reaserch was aimed to analyze the firm value in terms of profitability, capital structure and firm size partially and simultaneously on property and real estate companies listed on the Indonesia Stock Exchange in 2015 - 2018. The independent variables used in this study are profitability and capital structure; firm size as an intervening variable. While the dependent variable in this study is firm value. Firm value was calculated by using the Tobin'Q ratio. The total population in this research was 54 companies and 30 companies were taken as the sample. This research used secondary data that has passed the Classical Assumption Test. Hypothesis testing was carried out using Multiple Linear Analysis, Model test (t-test and F-Test), Coefficient Determination, and Path Analysis. The result of the research shows that :(1) Profitability partially has no effect on firm size ;(2) Capital structure partially has no effect on firm size ; (3) Profitability and capital structure simultaneously have no effect on firm size ;(4) Profitability partially has no effect on firm value ; (5) Capital structure partially has significant effect on firm value ;(6) Firm size partially has a significant effect on firm value ; (7) Profitability, capital structure and firm size simultaneously have significant effect on firm value : (8) Profitability has direct influence on firm value ;(9) Capital structure has direct influence on firm value.

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Analisis Faktor- Faktor yang Memengaruhi Nilai Perusahaan di Sektor Properti dan Real Estate Terdaftar di Bursa Efek Indonesia pada Tahun 2014 - 2018

Jurnal Manajemen Bisnis dan Kewirausahaan ◽

10.24912/jmbk.v4i6.9791 ◽

2020 ◽

Vol 4 (6) ◽

pp. 246

Author(s):

Andy Andy ◽

Suwinto Johan

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Secondary Data ◽

Sampling Technique ◽

Positive Influence ◽

Descriptive Research ◽

Independent Variable

The main issues examined in this study are the effect of profitability, capital structure, and firm size on firm value. The type of research used is descriptive research. The population in this study are all property and real estate companies listed on the Indonesia Stock Exchange, amounting to 55 companies. The sampling technique was determined by purposive sampling so that 24 companies could be sampled. The data used in this study are secondary data. The dependent variable is firm value and the independent variable is profitability of capital structure, and firm size. The analytical model used is multiple linear regression analysis.From the results of hypothesis testing it is found that: First, profitability has a significant effect on firm value with a sig value of 0,000 <α = 0.05. Second, capital structure affects the value of the company with a sig value of 0.024 <α = 0.05. Third, the size of the company affects the value of the company with a sig value of 0.699> α = 0.05. Fourth, profitability, capital structure, and company size significantly influence the value of the company with sig 0,000 <α = 0.05.Based on the results of the study, researchers suggest to companies 1. In order to continue to increase profits so that profitability with increased profitability will affect the increase in firm value. 2. In order to be able to maintain its capital structure in order to be able to influence the value of the company. In addition the company must also maintain assets because with high assets will increase the value of ln total assets so that the size of the company will be high which will have a positive influence on the value of the company.

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FAKTOR-FAKTOR YANG MEMPENGARUHI AKTIVITAS HEDGING DENGAN INSTRUMEN DERIVATIF VALUTA ASING

Jurnal Dinamika Manajemen ◽

10.15294/jdm.v5i1.3651 ◽

2015 ◽

Vol 5 (1) ◽

Author(s):

Fay Guniarti

Keyword(s):

Logistic Regression ◽

Firm Size ◽

Financial Distress ◽

Firm Value ◽

Foreign Currency ◽

Stock Exchange ◽

Secondary Data ◽

Analysis Model ◽

Growth Opportunity ◽

Probability Prediction

Penelitian ini bertujuan untuk mengetahui faktor-faktor yang mempengaruhi aktivitas hedging dengan instrumen derivatif valuta asing pada perusahaan non keuangan yang terdaftar di BEI tahun 2010-2012. Data yang digunakan adalah data sekunder yang diunduh dari website Bursa Efek Indonesia. Populasi dalam penelitian ini adalah seluruh perusahaan yang terdaftar di Bursa Efek Indonesia tahun 2010-2012. Sedangkan sampel penelitian ini sejumlah 77 perusahaan yang memiliki eksposur transaksi dan memiliki kelengkapan data untuk diteliti. Dari sampel tersebut sebanyak 28 perusahaan melakukan aktivitas hedging selama periode pengamatan dan 49 perusahaan tidak melakukan aktivitas hedging.Analisis Logistic Regression digunakan untuk menguji hipotesis. Hasil pengujian menunjukkan bahwa model analisis menghasilkan ketepatan 79.2% dan variabel leverage, liquidity, firm size dan financial distress berpengaruh signifikan terhadap prediksi probabilitas aktivitas hedging dengan tingkat signifikansi 5%, sedangkan variabel firm value dan growth opportunity berpengaruh tidak signifikan. The objective of the study was to know the factors which influence the hedging activity with foreign currency derivative instruments at non-financial companies listed on the Indonesia Stock Exchange in 2010-2012. The data of the research were secondary data which was downloaded from the Indonesia Stock Exchange website. The population of the study was all companies listed in Indonesia Stock Exchange in the period of 2010-2012. There were 77 companies which had the transaction exposure andcomplete data for analysis. From those samples, only 28 companies did hedging activities during the period of observation and 49 companies did not do hedging activities.The data were analyzed by Logistic Regression Analysis to test the hypothesis. The test result showed that analysis model gave the accuracy 79.2% and the research variables; leverage, liquidity, firm size, and financial distress significantly influenced the probability prediction of hedging activity with 5% level of significancy, while the research variables; firm value and growth opportunity did not give significant influence.

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PENGARUH PROFITABILITAS, UMUR, DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL

Jurnal Riset Akuntansi dan Keuangan ◽

10.21460/jrak.2015.112.15 ◽

2015 ◽

Vol 11 (2) ◽

pp. 147

Author(s):

Jefrianus Mau ◽

Indri Prasasyaningsih ◽

Putriana Kristanti

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Size ◽

Positive Impact ◽

Stock Exchange ◽

Firm Age ◽

Independent Variables ◽

Negative Effect ◽

Size Firm ◽

The Capital Structure

; "> This study aims to examine the influence of profitability, age, and size of the company on the capitalstructure. Population in this research is the company's property and real estate listed on theIndonesia Stock Exchange in 2010-2014. There are 24 companies with the data for 5 years as manyas 120 data that meet the criteria of the study sample that has been set. Variables used in this studywere independent variables consisting of profitability as measured by ROE, firm size, firm age andthe dependent variable is capital structure. These results indicate that profitability as measured byROE negative effect on the capital structure, age did not affect the company's capital structure andthe size of the company's positive impact on the capital structure.Keywords: profitability, firm’s age, firm’s size, capital structure

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PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

JURNAL ILMIAH EDUNOMIKA ◽

10.29040/jie.v5i1.1971 ◽

2021 ◽

Vol 5 (1) ◽

Author(s):

Maria Kopa

Keyword(s):

Capital Structure ◽

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Secondary Data ◽

Coefficient Of Determination ◽

Manufacturing Companies ◽

Financial Reports ◽

Company Value ◽

Food And Beverage

The company has a specific goal by increasing the prosperity of its owners and shareholders through increasing company value. This study aims to determine the effect of capital structure (DER), firm size (total assets) and profitability (ROA) on firm value (PBV). The object of this study is the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (BEI) 2015-2019. This study used a purposive sampling method with several specified criteria, and a sample size of 12 companies, and obtained for five years from the annual financial reports, so that a total of 60 company samples. The type of data used in this study is secondary data, where the data obtained from a ready-made form, has been collected and has been processed by other parties in the form of a sample of company annual financial statements. To determine the effect of independent variables on dependent variables, the analysis method used is descriptive statistical test, classical assumptions, multiple regression analysis, hypothesis testing, t test, f test, and analysis of the coefficient of determination using the SPSS program. The results of this study indicate that capital structure has a positive and significant effect on firm value, firm size has a positive and significant effect on firm value, and profitability has a positive and significant effect on firm value.

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THE EFFECT OF INTERNAL FACTORS ON CAPITAL STRUCTURE AND ITS IMPACT ON FIRM VALUE: EMPIRICAL EVIDENCE FROM THE FOOD AND BAVERAGES INDUSTRY LISTED ON INDONESIAN STOCK EXCHANGE 2013-2017

International Journal of Engineering Technologies and Management Research ◽

10.29121/ijetmr.v6.i7.2019.434 ◽

2020 ◽

Vol 6 (7) ◽

pp. 173-191

Author(s):

M.Noor Salim ◽

Rina Susilowati

Keyword(s):

Capital Structure ◽

Firm Size ◽

Firm Value ◽

Sampling Method ◽

Stock Exchange ◽

Secondary Data ◽

Manufacturing Companies ◽

Negative Effect ◽

The Impact ◽

Positive Effect

This research aims to analyze the effects of profitability (ROA), liquidity (CR), assets growth, and firm size towards capital structure (DER) and the impact on firm value (PBV).This research uses secondary data from yearly financial statement of food and baverages companies listed in Indonesian Stock Exchange for period 2013-2017. The research design uses descriptive quantitative research and causality. Sampling method uses purposive sampling method, with some predetermined criteria, the number of sample is 17 manufacturing companies. The analysis technique used is panel data regression. The research results shows that the profitability (ROA) and firm size partially have negative effect and not significant on capital structure (DER). The liquidity (CR) and assets growth partially have negative effect and significantly on capital structure (DER). Then the capital structure (DER) partially have positive effect but not significantly influences the firm value (PBV). The profitability (ROA) partially have positive effect and significant on firm value (PBV). The liquidity (CR) and assets growth partially have negative and significant effect on firm value (PBV), and firm size partially have negative and not significant effect on firm value (PBV). Simultaneously profitability (ROA), liquidity (CR), assets growth and firm size effect on capital structure (DER). On the other side, simultaneously profitability (ROA), liquidity (CR), assets growth and firm size have effect on firm value (PBV).

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The Effect of Profitability, Liquidity, and Asset Structure on Capital Structure with Firm Size as Moderating Variable

Accounting Analysis Journal ◽

10.15294/aaj.v10i1.44516 ◽

2021 ◽

Vol 10 (1) ◽

pp. 32-38

Author(s):

Cicilia Ratna Dewi ◽

Fachrurrozie Fachrurrozie

Keyword(s):

Regression Analysis ◽

Data Analysis ◽

Real Estate ◽

Capital Structure ◽

Firm Size ◽

Stock Exchange ◽

Descriptive Analysis ◽

Secondary Data ◽

Financial Statements ◽

Absolute Value

The purpose of this research is to analyze the effect of profitability, liquidity, and asset structure on capital structure with firm size as a moderating variable. The population of this study was all property and real estate companies listed on the Indonesian Stock Exchange (IDX) from 2014-2016. The number of samples used was 39 companies with the audit of analysis of 117. This study used secondary data taken from the annual financial statements. The method of data analysis was descriptive analysis and Moderated regression analysis by difference absolute value test. The data analysis used was IBM SPSS Statistics 21. The result of the study showed that profitability, liquidity, and asset structure had negative and significant effects on capital structure. Firm size was able to moderates significantly the effect of liquidity on capital structure, but it is not able to moderate the effect of profitability and asset structure on the capital structure. The study concludes that capital structure is influenced by profitability, liquidity, and liquidity that moderated by firm size. Keywords: Profitability; Liquidity; Asset Structure; Capital Structure; Firm Size

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PENGARUH FIRMSIZE, DEBT TO EQUITY (DER), DAN AKTIVITAS (TATO) TERHADAP PROFITABILITAS PERUSAHAAN SUBSEKTOR PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2013-2017

GOING CONCERN : JURNAL RISET AKUNTANSI ◽

10.32400/gc.14.1.22646.2019 ◽

2019 ◽

Vol 14 (1) ◽

Author(s):

. Mesrawati ◽

Carlos Sihombing ◽

Ervina Samjaya

Keyword(s):

Real Estate ◽

Firm Size ◽

Stock Exchange ◽

Secondary Data ◽

Financial Statements ◽

Coefficient Of Determination ◽

Sampling Techniques ◽

Research Subjects ◽

Independent Variables ◽

Size Variable

This purpose this research to get tasted on the effect of Firm Size, Debt to Equity, and Activity on Profitability in the property and real estate sub-sector companies listed on the Indonesia Stock Exchange in 2013-2017. The research sample consisted of 29 companies selected through Purposive sampling techniques. The data used in this study is secondary data, by collecting data or information in the form of financial statements needed from idx. The analytical method used is multiple regression analysis and assumption test. The research subjects were property and real estate companies listed on the Indonesia Stock Exchange for the period 2013-2017. From the results of the discussion showed that partially with the t test, Firm Size variable, Debt to Equity and Activity had an effect on Profitability. Simultaneous results of independent variables; Firm Size, Debt to Equity and Activities with the F test, together have an effect on Profitability. The coefficient of determination shows that independent variables are able to influence the dependent variable.Keywords: firmsize,debt to equity ,aktivitas.

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Determinan Faktor Struktur Modal pada Perusahaan Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia pada Tahun 2013-2018

e-Journal Ekonomi Bisnis dan Akuntansi ◽

10.19184/ejeba.v7i2.18582 ◽

2020 ◽

Vol 7 (2) ◽

pp. 143

Author(s):

Mohammad Zidni Rizky ◽

R. Aditya Kristamtomo Putra

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Size ◽

Firm Growth ◽

Stock Exchange ◽

Linear Regression Method ◽

Random Effects Model ◽

Independent Variables ◽

Multiple Linear Regression Method ◽

Model Approach

The aim of this study was to analyze the determinant factors of capital structure on property and real estate companies listed in Indonesia Stock Exchange in 2013-2018. The independent variables used in this study were assets structure, profitability, firm growth, firm size, and liquidity, whereas the dependent variable was capital structure. This study used purposive sampling so there were 29 companies being analyzed. The data was analyzed using panel data multiple linear regression method with Random-effects Model approach. This study found that simultaneously, the assets structure, profitability, firm growth, firm size, and liquidity could significantly affecting the capital structure of the companies. Partially, the assets structure and liquiditty negative and insingificant effect, profitabillity has negative and signficant effect, firm growth has positive and significant efect, and firm size has positive and insignificant effect.

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Tax Planning, Solvabilitas, Nilai Perusahaan, dan Ukuran Perusahaan sebagai Variabel Moderasi

Master: Jurnal Manajemen dan Bisnis Terapan ◽

10.30595/jmbt.v1i2.12671 ◽

2021 ◽

Vol 1 (2) ◽

pp. 85

Author(s):

Wisnu Haryo Pramudya ◽

Slamet Herutono ◽

Rahimah Rahimah

Keyword(s):

Regression Analysis ◽

Real Estate ◽

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Tax Planning ◽

Moderator Variable ◽

Purposive Sampling ◽

Independent Variables ◽

The Relationship

AbstrakTujuan dari penelitian ini adalah untuk menguji pengaruh Tax Planning dan Solvabilitas terhadap Nilai Perusahaan dan menguji Ukuran Perusahaan apakah akan memperkuat pengaruh masing-masing variabel. Variabel independen dalam penelitian ini adalah Tax Planning dan Solvabilitas. Kemudian variabel dependennya adalah nilai perusahaan. Penelitian ini juga menggunakan Ukuran Perusahaan sebagai variabel moderasi. Hipotesis yang akan dibuktikan dalam penelitian ini adalah Tax Planning tidak berpengaruh terhadap Nilai Perusahaan, Solvabilitas berpengaruh terhadap Nilai Perusahaan, Ukuran Perusahaan tidak mampu memoderasi Tax Planning dengan Nilai Perusahaan, dan terakhir Ukuran Perusahaan mampu memperkuat pengaruh Solvabilitas dengan Nilai Perusahaan. Penelitian ini menggunakan MRA (Moderated Regression Analysis). MRA merupakan suatu bentuk regresi yang pada hakikatnya dirancang untuk mengetahui hubungan antara dua variabel yang dipengaruhi oleh variabel ketiga/moderator, suatu persamaan regresi yang mengandung unsur-unsur atau interaksi perkalian antara dua atau lebih variabel independen. Populasi penelitian ini adalah seluruh perusahaan real estate dan kontraktor yang terdaftar di Bursa Efek Indonesia (BEI) periode 2018-2020. Metode pengambilan sampel yang digunakan adalah purposive sampling. Hasil dari penelitian ini membuktikan seluruh hipotesis yang dibangun dapat diterima.AbstractThe purpose of this study are examine the effect of Tax Planning and Solvability on Firm Value and to test whether firm size will strengthen the influence of each variable. The independent variables in this study are Tax Planning and Solvability. Then the dependent variable is firm value. This study also using firm size as a moderating variable. The hypothesis that will be proven in this study is Tax Planning has no effect on Firm Value, Solvability has no effect on Firm Value, Firm Size could not moderate Tax Planning with Firm Value, and finally Firm Size could strengthen the effect of Solvability with Firm Value. This study using MRA (Moderated Regression Analysis). MRA is a form of regression which essentially designed to determine the relationship between two variables that influenced by a third/moderator variable, a regression equation consist of elements or multiplication interactions between two or more independent variables. The population of this study are all real estate companies and contractors listed on the Indonesia Stock Exchange (IDX) for the 2018-2020 period. The method of this sampling is purposive sampling. The results of this study prove that all hypotheses are acceptable.

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Pengaruh Ukuran Perusahaan, Profitabilitas, Struktur Modal, Leverage dan Kepemilikan Institusional Terhadap Nilai Perusahaan

Owner ◽

10.33395/owner.v6i1.580 ◽

2022 ◽

Vol 6 (1) ◽

pp. 322-335

Author(s):

Hersintha Sahara ◽

Kartika Hendra Titisari ◽

Purnama Siddi

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Value ◽

Quantitative Research ◽

Stock Exchange ◽

Hypothesis Test ◽

Secondary Data ◽

Institutional Ownership ◽

Company Size ◽

Data Source

This research aims to examine and analyze the effect of company size, profitability, capital structure, leverage & institutional ownership on firm value in property & real estate companies listed on the IDX (Indonesia Stock Exchange) from 2015-2019 period. The population obtained was 35 companies in research is property & real estate companies listed on the IDX (Indonesia Stock Exchange) from 2015-2019 period & the sample obtained was 20 companies. Sampling method used in research was “purposive sampling”. This type of research is quantitative research. The type of research used in in this research is descriptive quantitative. The research data source is secondary data obtained form the annual financial statements. The data analysis used is multiple linear regression, the coefficient of determinantion test, the classical assumption test, the F test & the hypothesis test. The results of the study showed that company size (SIZE), profitability (ROA), capital structure (DER) and leverage (DAR) affect on firm value (PBV) in property and real estate companies listed on the IDX (Indonesia Stock Exchange) from 2015-2019 period, while institutional ownership (INST) not affect on firm value (PBV) in property & real estate companies listed on the IDX (Indonesia Stock Exchange) for 2015-2019 period.

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