pengaruh struktur kepemilikan terhadap nilai perusahaan dengan kinerja keuangan dan kebijakan hutang sebagai variabel intervening

Clicks: 236
ID: 180006
2014
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Abstract
Abstract

This study aims to determine the influence of ownership structure on firm value of financial performance and debt policy as an intervening variable. Data used in this research is secondary data obtained from the OSIRIS database and indexes that are the result of previous research. This study used the path analysis conducted using the Eviews 6.0 and SPSS 17 programs. From the results of data analysis can be concluded that in Indonesia (1) the ownership structure proxied by insider ownership has no relationship with debt policy; (2) the ownership structure proxied by insider ownership has relationship with financial performance; (3) debt policy has not affect stock prices, as a proxy of firm value; (4) there is a positive influence on financial performance with corporate values; and (5) there is no influence of ownership structure on corporate value through debt policy and financial performance as an intervening variable.

Keywords: ownership structure, firm value, debt policy, financial performance


Abstrak

Penelitian ini bertujuan untuk mengkaji pengaruh struktur kepemilikan terhadap kinerja keuangan yang mana kebijakan hutang sebagai variabel intervening. Data yang digunakan dalam penelitian ini adalah data sekunder yang diperoleh dari database OSIRIS dan indeks yang merupakan hasil dari penelitian sebelumnya. Penelitian ini menggunakan analisis jalur (path analysis) yang dilakukan dengan menggunakan program Eviews 6.0 dan program SPSS 17. Hasil analisis menunjukkan bahwa di Indonesia (1) struktur kepemilikan yang ditunjukkan oleh insider ownership tidak memiliki hubungan dengan kebijakan utang; (2) struktur kepemilikan yang ditunjukkan oleh insider ownership memiliki hubungan dengan kinerja keuangan, (3) kebijakan hutang tidak mempengaruhi nilai perusahaan yang diproksi oleh harga saham; (4) ada pengaruh positif kinerja keuangan terhadap nilai perusahaan, dan (5) tidak ada pengaruh struktur kepemilikan terhadap nilai perusahaan melalui kebijakan hutang dan kinerja keuangan sebagai variabel intervening.

Kata kunci: struktur kepemilikan, nilai perusahaan, kebijakan hutang, kinerja keuangan

Reference Key
wardani2014jurnalpengaruh Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Dewi Kusuma Wardani;Sri Hermuningsih
Journal British journal of anaesthesia
Year 2014
DOI
DOI not found
URL
http://journal.uii.ac.id/index.php/JSB/article/view/3190
Keywords
industrial management production management operations managementmanagement

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