Examining the Firm Value Based on Signaling Theory

Komara, Acep; Ghozali, Imam; Januarti, Indira

doi:10.2991/aebmr.k.200305.001

Cited by 24 publications

(28 citation statements)

References 13 publications

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“…On the other hand, companies with a poor capacity will tend to only disclose mandatory information. This is in line with Komara et al (2020), who state that this theory emphasizes companies in terms of sending positive signals to the market. Investors will begin to evaluate and make investment decisions that increase the firm value.…”

Section: Downessupporting

confidence: 87%

Role of Profitability, Business Risk, and Intellectual Capital in Increasing Firm Value

Pangestuti

Muktiyanto

Geraldina

et al. 2022

JIEB

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Introduction/Main Objectives: This research illustrates the importance of firm value, both to investors and companies. Investors assess that an increase in the value of a company indicates a positive view of the company's performance, which leads to an investment decision. Besides that, an increase in the value of the company can indicate that the company is getting closer to achieving its goal, namely increasing the welfare of its stakeholders. Background Issues: In recent years, there has been a decline in the value of firms in the mining sector due to various factors that have affected it, which has resulted in a decrease in the value of the shares in several of the sub-sectors, especially the coal mining and petroleum sub-sectors. Novelty: This study examines the business risk and intellectual capital that are typical of firms in the mining industry with the generalized moments’ methods. Research Methods: This research is a quantitative study that uses the generalized moments methods, where the robust least square test determines which model is more suitable for use in the research. The variables in this study consist of profitability, intellectual capital, and business risk, with variable controls being the gold price, exchange rate, and petroleum price. This study uses annual financial statements from mining companies that are listed on the Indonesia Stock Exchange. These statements include balance sheets and income statements. Finding/Results: These findings reveal that profitability, intellectual capital, and business risk affect the value of a company. Macroeconomic factors as the variable controls, namely gold prices, exchange rates, and petroleum prices, also affect the value of a company. Therefore, based on the research’s results, management must pay attention to internal factors or company micro factors (profitability, intellectual capital, and business risks) and macroeconomic factors (gold prices, exchange rates, and petroleum prices) to increase company value. This is because investors use these factors when making decisions to invest in the mining sector. Conclusion: There are several important factors that, in principle, increase the value of a company. These factors come from internal and external factors (macroeconomics). This article successfully demonstrates the importance of profitability, intellectual capital, and business risk in supporting firm value. The results also showed that the gold price, exchange rate, and the price of oil have an effect on the price of mining stocks, which are used to measure changes in the economy

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Section: Downessupporting

confidence: 87%

Role of Profitability, Business Risk, and Intellectual Capital in Increasing Firm Value

Pangestuti

Muktiyanto

Geraldina

et al. 2022

JIEB

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“…Penelitian menunjukkan proporsi dewan komisaris perempuan dalam dewan komisaris berpengaruh negatif pada nilai perusahaan menggunakan pengukuran Tobin`s Q. Argumen ini didasari oleh signaling theory, terkait dengan aktivitas, informasi, profitabilitas yang mencerminkan informasi dan prospek di masa yang akan datang (Komara et al, 2020). Hasil negatif tersebut sangat rendah sehingga terdapat pendekatan lainnya yang dapat digunakan untuk menjelaskan temuan negatif ini.…”

Section: Gambar 1 Model Penelitianunclassified

Diversitas Dewan Direksi dan Profitabilitas pada Perusahaan Terdaftar di Bursa Efek Indonesia

Yopie

2021

E-Jurnal Akuntansi

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The study discusses the problem of company performance by looking at the level of diversity of the board of education (gender, age, nationality and nationality), and the type of company. In this day and age, Diversity of workers and top management is one of the ways to increase productivity and work effectiveness of an organization. The study was conducted as a development of research that has applied hypothesis testing which is useful for testing how the influence of the independent variable on the dependent variable. The research was conducted on entities listed on the IDX from 2016-2020 (excluding entities in finance and insurance). The population is 514 entities. The number of samples used is 384 entities with purposive sampling method Data processing using statistical software SPSS and Eviews. The results of the study show that female directors, age and nationality have no significant effect on ROA, ROE and Tobin`s Q, while education has no significant effect on ROA, ROE, but has a significant negative effect on Tobin`s Q. Keywords: Profitability; Gender; Age; Education; Citizenship.

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“…This signal theory also explains that companies that have good quality will give signals in the form of information to the market or investors so that it will have implications on company value. This theory is supported by several other researchers in reviewing the value of the company including Sari and Sedana (2020), Hapsoro and Falih (2020), Komarudin and Affandi (2019), Komara et al (2019), Setiawanta et al (2019), Fajaria and Isnalita (2018), Yuniningsih (2018), Sabrin et al (2016).…”

Section: Literature Review and Hypothesis Development Signaling Theorymentioning

confidence: 68%

Does Gender Diversity Moderate the Relationship Between Profitability and Company Value ?

Muzanni

Yuliana

2021

performance

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This study aims to analyze the influence of profitability on the value of companies with gender diversity as moderation variables whether able to strengthen or only weaken. The population used is property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2017 to 2019. Sampling techniques use purposing sampling as many as 13 companies while hypothesis testing method using descriptive analysis techniques and classical assumption test and moderation regression analysis (MRA) with SPSS program. The results showed that the profitability of Return On Asset (ROA) and Return On Equity (ROE) had a positive and significant effect on the company's value. Gender diversity affects the value of the company and gender diversity is able to strengthen the relationship between profitability and the value of the company. This study supports the signaling theory.

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Examining the Firm Value Based on Signaling Theory

Cited by 24 publications

References 13 publications

Role of Profitability, Business Risk, and Intellectual Capital in Increasing Firm Value

Role of Profitability, Business Risk, and Intellectual Capital in Increasing Firm Value

Diversitas Dewan Direksi dan Profitabilitas pada Perusahaan Terdaftar di Bursa Efek Indonesia

Does Gender Diversity Moderate the Relationship Between Profitability and Company Value ?

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