Managerial Ownership, Leverage, Profitability, Corporate Value: An Interactive Effect In Indonesia Stock Exchange

Abstract

Managerial ownership, firm value and financial characteristic have long been critical issue with regards to company’s financial decision making. If the profitability higher and more assignable profit there and it is the higher value of the firm. Purpose of this study to analyze how the impact of Managerial Ownership, Leverage, Profitability on the firm value. The population take from companies listed in Indonesian Stock Exchange 2015 - 2019. The population taking from property, real estate and building construction. This research method using for this study is a purposive sampling with multiple of regression analysis. The result of this research are managerial ownership affects the value of the firm, leverage does not affect the value of the firm and profitability affects on value of the firm. The simultaneous of managerial ownership, leverage and profitability have no significant on firm value. This study’s Implication will support for stakeholder theory that management as an agent must develop a relationship with stakeholders by embarking on environmental friendly practice to maintain a positive value. Besides, value of the company has created must be prioritized to help the companies enhance their competitive advantage to strengthen on financial performance.

The Impact of Ownership Structure on Firm Value in the Banking Sector Companies

“…The amount of share ownership that has not been significant causes managers to be more concerned with their goals as a manager than as a shareholder (Ballo, 2020;Azizah et al, 2021). This study is not in line with the research conducted by Dewayanto & Riduwan (2020), Soewarno & Ramadhan (2020), Mappadang (2021), and Bernardin & Karina (2021).…”

“…Meanwhile, Ballo (2020) stated that managerial ownership negatively influences the firm value. It is different from the results of the study by Dewayanto & Riduwan (2020), Soewarno & Ramadhan (2020), Mappadang (2021), and Bernardin & Karina (2021), which suggest that managerial ownership has a significant positive effect on firm value. Buttang (2020) stated that foreign ownership has a negative and significant effect on firm value.…”

“…This managerial ownership helps unite interests so that both can benefit directly from the decision and share some of the consequences (Susanti & Mildawati, 2018). Bernardin & Karina (2021), Dewayanto & Riduwan (2020), Mappadang (2021), and Soewarno & Ramadhan (2020) suggest that managerial ownership has a significant positive effect on firm value.…”

Faktor Yang Berperan Penting Terhadap Return Saham dan Nilai Perusahaan Perbankan Go-Public di Indonesia

“…Hal ini tidak sesuai dengan penelitian terdahulu yang meneliti tentang resiko investasi yang menyatakan bila DOL semakin tinggi makan akan semakin meningkatkan nilai perusahaan (Jannatun, A., Chomsatu, 2019). Namun sesuai dengan penelitian terdahulu yang meneliti tentang resiko investasi yang tidak memiliki pengaruh terhadap nilai perusahaan (Mahendra et al, 2012) (Mappadang, 2021) (Sari, E.L., Wijayanto, 2015) (Galatang, J., Sri Murni, 2016). Hal ini menunjukkan bahwa variabel resiko investasi yang semakin tinggi walau semakin menurunkan return saham karena biaya yang harus dikeluarkan oleh perusahaan tidak mempengaruhi nilai perusahaan.…”

“…(2020), Hasanudin, dkk (2020), dan Mulyani (2017) menyimpulkan bahwa risiko investasi berpengaruh signifikan dan berkorelasi positif terhadap nilai perusahaan. Hasil penelitian lainnya yang menunjukkan hasil berbeda dari variabel risiko investasi terhadap nilai perusahaan dilakukan oleh Sari, E.L. dan Wijayanto (2015) dan juga oleh penelitian Mappadang (2021) yang menyimpulkan bahwa risiko investasi tidak berpengaruh signifikan terhadap nilai perusahaan. Hal ini menggambarkan bahwa investor tidak perlu terlalu mempertimbangkan risiko investasi dalam melakukan penilaian terhadap sebuah perusahaan.…”