Penelitian ini bertujuan untuk mengetahui pengaruh asimteri informasi dan kinerja keuangan terhadap nilai perusahaan dengan kebijkan dividen sebagai variable intervening. Saat hendak berinvestasi, calon investor akan mencari informasi untuk mengambil keputusan investasi di pasar modal, seperti kinerja keuangan dan kebijakan dividen yang kesemuanya terangkum dalam laporan keuangan. Hal ini membuat perusahaan berupaya semaksimal mungkin untuk melakukan pelanggaran kode etik, seperti contoh kasus PT Garuda Indonesia (GIAA) yang berimplikasi pada penurunan nilai perusahaan. Jumlah sampel dalam penelitian ini adalah sebanyak adalah sebanyak 9 perusahaan melalui metode purposive sampling. Hasil penelitian menunjukkan bahwa asimetri informasi secara parsial tidak berpengaruh terhadap kebijakan dividen, besarnya pengaruh Asimteri Informasi terhadap kebijakan dividen = -0.162 atau -16,2% dengan angka signifikansi 0.137> α = 0.05. kinerja keuangan berpengaruh terhadap kebijakan dividen, Besarnya pengaruh Debt Covenant terhadap Kebijakan Dividen = 0.354 atau 35.4% dengan angka signifikansi 0. 002 < α = 0.05. Asimteri Informasi terhadap Nilai Perusahaan = 0.009 atau 0.09% dengan angka signifikansi 0.906 > α = 0.05 sehingga asimetri informasi tidak berpengaruh terhadap nilai perusahaan, sedangkan kinerja keuangan dan kebijakan dividen berpengaruh terhadap nilai perusahaan. Besarnya pengaruh kinerja keuangan terhadap Nilai Perusahaan = 0.677 atau 67.7% dengan angka signifikansi 0.000 < α = 0.05 dan Berdasarkan strategi kausal step, diperoleh hasil bahwa kebijakan dividen mengintervensi asimetri informasi dan nilai perusahaan secara penuh, sedangkan kebijakan deviden dapat mengintervensi kinerja keuangan dengan nilai perusahaan baik secara langsung maupun tidak langsung sehingga disebut mediasi parsial.
This study aims to discover the effect of liquidity on firm value with dividend policy as the intervening variable in the manufacturing companies indexed by ISSI in the period of 2014-2018. In this study, we used 10 companies as samples. This study used quantitative research method. As for sampling technique, we used purposive sampling. The type of data is secondary data. Data analysis techniques used in this study were descriptive data analysis, classical assumption test analysis, multiple linear regression, whilst research hypotheses were tested by Eviews 9. The results showed that dividend policy did not mediate solvability effect on firm value, however dividend policy mediated the effect of liquidity on firm value.
The huge tourism potential has become the government's attention in an effort to revive the Indonesian economy such as Halal Tourism. Waqf as empowerment of property in Islam has the potential to develop the economy of the community through Halal Tourism. Halal Tourism Kampung Al-Munawar Palembang is one example of halal tourism objects that come from waqf activities around the community. This study aims to determine the strategy of Waqf Optimization in Developing Halal Tourism in Al-Munawar Village in Palembang. The results of the study indicate the need for strategies such as raising public awareness to represent, increasing the quality of professional and competent Nazhir resources, making waqf as a supporter of Halal Tourism, and making MSME practitioners who have received assistance from wakaf funds (mauquf 'alaih) as providers of waqaf (waqif)
This study aims to determine the effect of managerial ownership and “Institutional Ownership“ on Firm Performance. This research uses eviews and excel for data processing. There are 7 companies that are sampled in this study. Based on the calculation results, the t-count is -1.305926 > t-table -2.042 with a significance number of 0.2009 > = 0.05, so Ho is accepted and Ha is rejected. This means that there is no influence of Managerial Ownership on Firm Performance. The magnitude of the influence of Managerial Ownership on Firm Performance = -0.881909 or 88.19% with a significance number of 0.2009> = 0.05. To reduce this deviant behavior, there is a need for supervision by outside parties. Share ownership by institutions can reduce deviant behavior by managers by conducting supervision. Based on the calculation results, the t-count is -2.889903 > t-table -2.042 with a significance number of 0.0069 < = 0.05, so Ho is rejected and Ha is accepted. This means that there is no an influence of “Institutional Ownership“ on Firm Performance. The results of this study are in line with agency theory.
The effectiveness and efficiency in a nonprofit organization have different meanings than in profit-orientated organizations. This study aims to see how the financial effectiveness and efficiency was analyzed based on its social impact and sustainability of the program. The research is based on a sample of nonprofits, chosen from the database of the website published on the panel data provided by their financial statements. The financial effectiveness and efficiency are calculated, using the ratios method modification from Ritchie and Kolodinsky model compared to ISZM, by reporting the realized elements to the targeted ones. The period of our analysis involves six fiscal years for the chosen sample. The results of this study involve measures of financial effectiveness and efficiency for each entity studied. The studied in the period identify factors which influence both effectiveness and efficiency and its evolution and interpreting the results for the whole field.
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