Pengaruh Profitabilitas ,Ukuran Perusahaan Terhadap Leverage Implikasi Terhadap Nilai Perusahaan Cosmetics and Household yang terdaftar di Bursa Efek Indonesia

Abstract

Tujuan dari penelitian secara empiris untuk membuktikan adanya Pengaruh Profitabilitas ,Ukuran Perusahaan Terhadap Leverage Implikasi Terhadap Nilai Perusahaan Cosmetics and Household yang terdaftar di Bursa Efek Indonesia baik secara parsial maupun simultan. Peneliti menggunakan sampel 5 emiten dengan kapitalisasi pasar terbesar dari Index Saham LQ45 Bursa Efek Indonesia. mulai tahun 2011-2017. Penelitian menggunakan sampel 5 perusahaan cosmetics and household yang diambil dengan menggunakan teknik purposive sampling” “Metode analisis data yang dilakukan dalam penelitian ini menggunakan metode analisis regresi data panel. Untuk menentukan salah satu dari tiga pendekatan regresi panel yang akan digunakan yaitu ordinary least square” (OLS), berpengaruh negatif atau positif signifikan terhadap Leverage, Ukuran Perusahaan berpengaruh positif atau signifikan terhadap Leverage, Profitabilitas dan Ukuran Perusahaan berpengaruh positif atau signifikan terhadap Leverage. Profitabilitas berpengaruh tidak signifikan terhadap Nilai Perusahaan. Ukuran Perusahaan berpengaruh negatif dan positif tidak signifikan terhadap Nilai Perusahaan, Leverage berpengaruh tidak signifikan terhadap Nilai Perusahaan. Profitabilitas, Ukuran Perusahaan, Leverage berpengaruh tidak signifikan terhadap Nilai Perusahaan

Profitability and Dividend Policy Affects Firm Value in The Infrastructure, Utility and Transportation Sector

“…Research on profitability has had mixed results. First, previous research found that profitability has a positive effect on firm value (Noviani et al, 2019;Rudangga & Sudiarta, 2016;Kadim & Sunardi, 2019). The results of this study contradict research from Ratih & Damayanthi (2016) who found that profitability cannot affect firm value.…”

Analysis of the Influences of Dividend Payout Ratio, Return on Equity, Growth and Firm Size on Stock Value With Leverage as Mediating Variable

“…Leverage (debt to equity ratio) does not influence company stock value (price to book value). This result, therefore, does not support prediction of H1 stating that leverage has a negative influence on company stock value but, on the other hand, supports results of the study conducted by Kadim and Sunardi (2019). Nevertheless, despite being not significant, the influence of leverage on stock value is found to be negative.…”

“…Results of the study conducted by Kadim and Sunardi (2019) indicated that debt to equity ration negatively influenced company's stock price; meanwhile, Ginting and Suriany (2013) discovered that the use of leverage in capital structure negatively influenced value of the company. This results have been opposed to cost of capital theory stating that debt is low cost external financing that will increase value of the company.…”

“…Some studies involving Indonesian-based companies found that companies in Indonesia had the tendency to hold the pecking order theory. A research conducted by Kadim and Sunardi (2019) concluded that profitability negatively influenced leverage while dividend payout positively and significantly influenced leverage and firm size positively influences leverage. As to correlation between variables and value of the company, Kadim and Sunardi (2019) discovered that market growth, dividend payout, and firm size influenced share price positively whereas leverage influences share price negatively.…”

“…A research conducted by Kadim and Sunardi (2019) concluded that profitability negatively influenced leverage while dividend payout positively and significantly influenced leverage and firm size positively influences leverage. As to correlation between variables and value of the company, Kadim and Sunardi (2019) discovered that market growth, dividend payout, and firm size influenced share price positively whereas leverage influences share price negatively. Other study conducted by Rizqia, et al (2013) highlighted that, in general, managers in Indonesian companies were more likely to follow a financing hierarchy (pecking order theory).…”