scholarly journals Firm Size As A Moderation Factor: Testing The Relationship of Capital Structure With Dividend Policy

2020 ◽  
Vol 5 (2) ◽  
pp. 41
Author(s):  
Akhmadi Akhmadi ◽  
Bambang Mahmudi ◽  
Moh Muksin ◽  
Indra Suhendra ◽  
Rina F
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Analysis Tool ◽  
Manufacturing Companies ◽  
Chemical Manufacturing ◽  
Relationship Of ◽  
The Relationship ◽  
Debt Policy

This study examines size as a variable that can strengthen and weaken the relationship between debt policy and dividend policy. Presearch using a sample of 26 companies  of 65 population Basic industrial and chemical manufacturing companies listed on the Indonesia Stock Exchange in 2011-2015, which is determined by purposive technique. The variables observed include debt policy as an independent variable, dividend policy as the dependent variable, and firm size as a moderating variable. The analysis tool uses regression moderating analysis (MRA). The results prove that the Debt to Asset Ratio (DAR) has a negative and insignificant effect on the Dividend Payout Ratio (DPR), firm size negatively moderates and there is a significant relationship between capital structure and dividend policy.

scholarly journals Pengaruh Profitabilitas Dan Pertumbuhan Perusahaan Terhadap Struktur Modal Pada Perusahaan Manufaktur Dengan Tingkat Inflasi Sebagai Variabel Moderasi

2020 ◽  
Vol 2 (2) ◽  
pp. 327
Author(s):  
Juvenlianto Juvenlianto ◽  
Nyoman Suprastha
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Firm Growth ◽  
Stock Exchange ◽  
Negative Influence ◽  
Research Data ◽  
Manufacturing Companies ◽  
Inflation Rates ◽  
Relationship Of ◽  
The Relationship

This study was conducted to find out how the influence of profitability and firm growth on capital structure, in this study there is also a moderating variable that is the rate of inflation used to moderate the relationship of firm growth to capital structure. The sample of this research is manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2015-2017. Processing and testing of research data is done using the EVIEWS 9.0 application program. The results of this study indicate that profitability and firm growth have a negative influence on capital structure, and inflation rates strengthen the relationship of firm size to capital structure. Penelitian ini dilakukan untuk mengetahui pengaruh profitabilitas dan pertumbuhan perusahaan terhadap struktur modal, dalam penelitian ini juga terdapat variabel moderasi bernama tingkat inflasi yang digunakan untuk memoderasi hubungan pertumbuhan perusahaan dengan struktur modal. Sampel penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) 2015-2017. Pemrosesan dan pengujian data penelitian dilakukan dengan menggunakan program aplikasi EVIEWS 9.0. Hasil penelitian ini menunjukkan bahwa profitabilitas dan pertumbuhan perusahaan memiliki pengaruh negatif terhadap struktur modal, dan tingkat inflasi memperkuat hubungan pertumbuhan perusahaan dengan struktur modal.

scholarly journals PENGARUH KEBIJAKAN HUTANG, KEBIJAKAN DIVIDEN, PROFITABILITAS, PERTUMBUHAN PENJUALAN DAN KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 6 (2) ◽  
pp. 201
Author(s):  
Vivi Apriliyanti ◽  
Hermi Hermi ◽  
Vinola Herawaty
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Investment Opportunity Set ◽  
Debt Policy ◽  
Positive Effect

<p class="Default" align="center"><strong><em>Abstract</em></strong><em></em></p><p class="Default"><em>The purpose of this study was to examine the influence of debt policy, dividend policy,profitability, sales growth and investment opportunity set on firm value with firm size as moderating variable in the manufacturing companies on the Indonesia Stock Exchange (IDX). The population used in this study is a company that is listed on the Indonesia Stock Exchange. The sample used in this study 128 companies with an observation period of 3 (three) years from 2016 to 2018. The method of determining the sample used in this study was the purposive sampling method. The data processing method used in this study is the causality test with multiple regression analysis using SPSS version 23. The independent variables in this study are Debt Policy, Dividend Policy, Profitability, Sales Growth and Investment Opportunity. The moderating variable in this study is Company Size. The dependent variable in this study is firm value. The results of this study indicate that Debt Policy has a positive effect on Firm’s Value, Dividend Policy does not effect on Firm Value, Profitability does not have a positive effect on Firm’s Value, Sales Growth does not effect on Firm’s Value, Investment Opportunity Set does not effect on Firm’s Value, Firm Size does not have a positive effect on Firm’s Value, Firm Size does not strengthen the realtionship between Debt Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Dividend Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Profitability with Firm’s Value, Firm Size does not strengthen the realtionship between Sales Growth with Firm’s Value, Firm Size does not strengthen the realtionship between Investment Opportunity Set with Firm’s Value.</em></p>

scholarly journals The Influence of Managerial Ownership and Firm Size On Debt Policy

2018 ◽  
Vol 3 (1) ◽  
pp. 47-55
Author(s):  
Lihard Stevanus Lumapow
Keyword(s):  
Panel Data ◽  
Firm Size ◽  
Negative Impact ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Fixed Effect Model ◽  
Managerial Ownership ◽  
Analysis Tool ◽  
Manufacturing Companies ◽  
Debt Policy

This study aims to examine and analyse the effect of managerial ownership and firm size on debt policy in the perspective of agency theory. This research uses industrial samples of manufacturing companies listed on Indonesia Stock Exchange from 2012 until 2016. Sampling technique used is purposive sampling, and data collection techniques are panel data (cross-section and time series). The analysis tool used in this research is panel data regression with fixed effect model (FEM) approach. Based on the test results show that managerial ownership has a positive and significant effect on debt policy. Company Size has a negative impact but insignificant on debt policy. The results of this study have the potential for agency conflict.

scholarly journals Pengaruh Profitabilitas dan Ukuran Perusahaan Terhadap Nilai Perusahaan Dengan Moderasi Kebijakan Dividen: Studi Pada Perusahaan Properti, Real Estate dan Konstruksi Bangunan Yang Terdaftar di Bursa Efek Indonesia Periode 2013-2017

2020 ◽  
Vol 1 (2) ◽  
pp. 50-65
Author(s):  
Ali Imron ◽  
Desi Kurniawati
Keyword(s):  
Real Estate ◽  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Positive Impact ◽  
Stock Exchange ◽  
Book Value ◽  
Construction Companies ◽  
Relationship Of ◽  
The Relationship

This study purposed to determine the effect of profitability proxy with Earning Per Share (EPS) and firm size is proxied by logarithm natural of total assets to firm value which proxied by Price Book Value (PBV) and to find out whether dividend policy proxied by Dividend Payout Ratio (DPR) be moderateted the relationship of profitability and firm size against firm value. The population in this study were all the property, real estate and building construction companies sector listed on Indonesia Stock Exchange for 2013 -2017. The sample in this study were 9 companies out of 62 population obtained through purposive sampling method. Data analysis techniques used in this study was Moderated Regression Analysis (MRA). The results of this study is: (1) Profitability has positive and significant impact to firm value. (2) Firm size has positive impact but not significant to firm value. (3) Dividend policy are able to moderate the effect of profitability against firm value. (4) Dividend policy can not moderate the effect of firm size against firm value.

scholarly journals PENGARUH STRUKTUR MODAL, PROFITABILITAS TERHADAP DETERMINASI MANAJEMEN LABA DAN STRATEGI DIVERSIFIKASI

2020 ◽  
Vol 9 (1) ◽  
pp. 47-57
Author(s):  
Dayani Okvi Yanto ◽  
Lela Nurlaela Wati
Keyword(s):  
Capital Structure ◽  
Earnings Management ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Diversification Strategy ◽  
Management Actions ◽  
Diversification Strategies ◽  
Relationship Of ◽  
The Relationship ◽  
Positive Effect

This study aims to examine the effect of capital structure on earnings management, profitability on earnings management and diversification strategies to moderate the effect of capital structure on earnings management. This study uses data from 93 manufacturing companies listed on the Stock Exchange Index (IDX) during the period 2014 to 2018 using Moderating Regression Analysis (MRA). The results showed that capital structure had no effect on earnings management. Profitability with the ROA proxy has a significant positive effect on earnings management, but the diversification strategy is not able to moderate the relationship of capital structure to earnings management. Profitability can build earnings management actions by way of income minimizaation and income maximization, because with good performance through the level of profitability, investors will be interested in investing the capital.

scholarly journals FAKTOR-FAKOR YANG BERPENGARUH TERHADAP NILAI PERUSAHAAN

2020 ◽  
Vol 15 (2) ◽  
pp. 135
Author(s):  
Hermi Hermi
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Total Sample ◽  
Manufacturing Companies ◽  
Growth Opportunity ◽  
Size Growth ◽  
Debt Policy

<p><em>The purpose of the Company was established to obtain profits and to improve the shareholders' welfare. Maximizing firm value is very important because the company's goals can be realized. The higher the firm value will be a signal for the market to trust the company's prospects in the long run. The purpose of this study was to determine </em>s<em>ignificant the effect of dividend policy, debt policy, company size, growth opportunity and liquidity to firm value of manufacturing companies listed in the Indonesia Stock Exchange year 2015-2018. This study uses multiple linear regression analysis. The population used is a manufacturing company listed in the Indonesia Stock Exchange year 2015-2018 with a total sample of 160 samples. The results of the study simultaneously show that the variables of dividend policy, debt policy, firm size, growth opportunity and liquidity affect the firm value. The results of the study partially stated that dividend policy and debt policy variables positive effect of the firm value. But, firm size, growth opportunity and liquidity do not effect of the firm values</em></p>

scholarly journals ANALISIS PENGARUH KEBIJAKAN DEVIDEN, UKURAN PERUSAHAAN, PERTUMBUHAN PENJUALAN, DAN KEPEMILIKAN MANAJERIAL TERHADAP KEBIJAKAN UTANG PERUSAHAAN

AJAR ◽  
2018 ◽  
Vol 1 (01) ◽  
pp. 73-95
Author(s):  
Loh Wenny Setiawati ◽  
Jane Kristani
Keyword(s):  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Corporate Debt ◽  
Managerial Ownership ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Operational Activities ◽  
Debt Policy

In order to gain profit, companies need to manage their capital. One element to note is how big the company is able to meet the needs of funds that will be used to generate profits for the company. The funds can be obtained from external parties, and set in the corporate debt policy. Debt policy is a liability taken by the management in order to obtain the source of financing for the company so that it can be used to finance the company's operational activities. This research uses multiple linier regression analysis method that will test the influence of dividend policy, firm size, sales growth and managerial ownership to corporate debt policy. The samples used in this study are 103 manufacturing companies listed on the Indonesia Stock Exchange during the period 2012 - 2014. The results of this research indicate that firm size, sales growth affect the corporate debt policy, while dividend policy and managerial ownership have no effect on corporate debt policy.

scholarly journals PENGARUH PROFITABILITAS, UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

JEMBATAN ◽  
2018 ◽  
Vol 15 (2) ◽  
pp. 95-108
Author(s):  
Nurul Azmi ◽  
Isnurhadi Isnurhadi ◽  
Umar Hamdan
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Method ◽  
Manufacturing Companies ◽  
Multiple Linear Regression Method ◽  
Size Firm ◽  
The Relationship ◽  
Variable Analysis

This research ains to test the influence of profitability, firm size on firm value with capital structure as an intervening variable. Analysis of data were did in the manufacturing companies listed on the Indonesia Stock Exchange during the period 2011-2016. The data analyzed by using multiple linear regression method. The result showed that profitability has negative and significant on capital structure, firm size has negative and significant on capital structure, profitability do not influenced on firm value, firm size do not influenced on firm value, capital structure do not influenced on firm value. Meanwhile the capital stucture can not mediate the relationship between profitability and firm size against firm value. Keywords : profitability, firm size, firm value and capital structure

The Influence of Capital Structure, Growth, Company Size to Profitability and Company Value of Manufacture Firms Listed in Indonesia Stock Exchange

2019 ◽  
Vol 1 (3) ◽  
pp. 66-78
Author(s):  
Bernon Sampe Tondok ◽  
Cepi Pahlevi ◽  
Andi Aswan
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Positive Impact ◽  
Stock Exchange ◽  
Company Size ◽  
Manufacturing Companies ◽  
Descriptive Research ◽  
Company Value ◽  
Quantitative Descriptive ◽  
Company Growth

This study examines the effect of capital structure, company growth, company size on profitability and company value the cases of manufacturing companies listed on the Indonesia Stock Exchange. This research is quantitative descriptive research using path analysis. Classical assumption evaluations are conducted comprising of normality, linearity, autocorrelation, multicollinearity, and heteroscedasticity test. The sample is 33 manufacturing companies listed on the Indonesia Stock Exchange from period 2013 – 2017. The results of the study found that there was a positive impact of capital structure, company growth, firm size on profitability and value of manufacturing companies.

STRUKTUR MODAL DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING. (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI PERIODE 2016-2018).

2020 ◽  
Vol 4 (02) ◽  
Author(s):  
Anindiya Mustika Gunarwati ◽  
Siti Maryam ◽  
Sudarwati Sudarwati
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Company Size ◽  
Manufacturing Companies ◽  
Descriptive Research ◽  
Company Value ◽  
Quantitative Descriptive

The purpose of this study was to determine the effect of Capital Structure and Firm Size on Firm Value with Profitability as Intervening Variables. (Case Study on Manufacturing Companies in the Consumer Goods Industry Sector which are listed on the Indonesia Stock Exchange for the 2016-2018 Period). This research uses quantitative descriptive research type. Sample 27 companies using Purposive sampling technique. The analysis method uses path analysis with SPSS software version 21.Based on the test result min this study that the variable capital structure and company size have a positive and significant effect on profitability. Capital structure has no effect on firm value, firm size and profitability affect company value, and profitability is able to mediate the effect of capital structure and firm size on firm value. Keywords: capital structure, company size, profitability and firm value.

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