The Effect of DER, Firm Size, and CR on PBV with ROE as an Intervening Variable

Pustika, Titin Hestri; Hariyanto, Dedi; Safitri, Heni

doi:10.18196/mb.v13i2.13922

Cited by 4 publications

(2 citation statements)

References 12 publications

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“…Hal ini menjadi selaras dengan teori sinyal dengan pertumbuhan pendapatan sebagai sinyal positif (good news) yang disampaikan kepada orang yang memiliki niat berinvestasi, sehingga orang tersebut akan terdorong untuk membeli saham perusahaan tersebut. (Pustika et al, 2022) mengemukakan terkait dengan ROE yang digunakan sebagai pengukuran profitabilitas dan nilai perusahaan bisa diberikan pengaruh oleh profitabilitas. Hal tersebut juga didukung oleh penelitian milik (Malino & Wirawati, 2017), (Azhar & Wijayanto, 2018), (Permata, 2018), (Chabachib et al, 2019), Ispriyahadi & Abdulah (2021), serta Laksmi & Wirawati (2022) yang menyatakan bahwa rasio profitabilitas berpenaruh positif pada nilai perusahaan.…”

Section: Pengaruh Profitabilitas Pada Nilai Perusahanunclassified

pengaruh profitabilitas, struktur modal, dan ukuran perusahaan pada nilai perusahaan (Studi Pada Perusahaan Telekomunikasi)

Artha Sucita,

Dwi Ratnadi

2023

JOEB

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Pentingnya nilai perusahaan dalam pengukuran kinerja perusahan dapat mempengaruhi perkembangan perusahaan. Pengukuran variabel bebas profitabilitas menggunakan ROE, variabel bebas struktur modal menggunakan DER, dan variabel bebas ukuran perusahaan menggunakan total aset. Variabel terikat, atau nilai perusahaan, diukur dengan menggunakan PBV. Keseluruhan populasi adalah sampel karena mengadopsi non probability sampling yakni sampling jenuh sehingga jumlahnya sebanyak 91 data observasi. Analisis regresi linier berganda dimanfaatkan untuk menganalisis riset ini. Hasil analisis menunjukan bahwa profitabilitas, struktur modal dan ukuran perusahaan mampu menyumbang pengaruh pada nilai perusahaan secara positif. Implikasi penelitian menunjukan profitabiltas, struktur modal dan ukuran perusahaan menentukan nilai perusahaan telekomunikasi di Indonesia.

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Section: Pengaruh Profitabilitas Pada Nilai Perusahanunclassified

pengaruh profitabilitas, struktur modal, dan ukuran perusahaan pada nilai perusahaan (Studi Pada Perusahaan Telekomunikasi)

Artha Sucita,

Dwi Ratnadi

2023

JOEB

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“…Companies are founded and operated with the purpose of generating employment opportunities, bolstering economic conditions, contributing to government revenue, and enhancing the quality of life within the community (Pustika, Hariyanto, & Safitri, 2022). Another goal of forming a company is to generate profits for its owners and to bring prosperity to its shareholders.…”

Section: Introductionmentioning

confidence: 99%

Determinants of Company Value: Empirical Evidence from Consumer Goods Industrial Companies in Indonesia

Purnama,

Yuniarti,

Terdpaopong

et al. 2024

MABIS

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Research Aims: Investors focus on a company's value before investing, which can benefit shareholders. This study, thus, investigates how factors like liquidity, debt, profits, growth, and investment opportunities affect a company's value, with dividend policy playing a role.Design/Methodology/Approach: This study examined companies in the consumer goods industry listed on the IDX from 2018 to 2021. The authors collected data from 71 selected companies using purposive sampling. The analysis method employed was Moderating Regression Analysis (MRA).Research Findings: The findings demonstrated that Debt to Asset Ratio (DAR), Return on Assets (ROA), and Investment Opportunity Set (IOS) strongly affected Price to Book Value (PBV) positively. However, Current Ratio (CR) and Growth did not significantly affect PBV. Additionally, the Dividend Payout Ratio (DPR) did not influence the relationship between CR, DAR, and Growth with PBV. Also, it did moderate the relationship between ROA and IOS with PBV.Theoretical Contribution/Originality: The research findings contribute to our understanding of the factors that impact the market value of companies in the consumer goods industry listed on the IDX.Practitioners/Policy Implications: It is crucial to examine specific variables that have a significant impact on PBV, while other variables may not play a vital role. This can help practitioners, academics, and investors make more informed decisions based on in-depth analysis of company performance and value.Research Limitations/Implications: The limitations include limited panel data, a single industry focus, the absence of supportive data on individual company investment variations, and no consideration of industry risk, market policies, or investor preferences.

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Does capital structure moderate the impact of the investment opportunity set and institutional ownership on firm value?

Sudiyatno

Sudarsi

Hartoto³

et al. 2023

Investment Management and Financial Innovations

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The existence of a research gap compared to previous studies related to the effect of the relationship between institutional ownership and investment opportunity set on firm value in Indonesia is interesting to review. This study aims to reveal the relationship of these influences by adding capital structure as a moderating variable that serves to strengthen it against firm value. The research variables are the ratio of market value to book value of assets, institutional ownership, debt-to-equity ratio and free cash flow. The research timeframe is 2019–2021, using data taken from companies in the manufacturing sector in the Indonesian Capital Market (IDX). Data sampling was carried out using the purposive sampling method. Data analysis to determine the relationship of these effects and hypothesis testing were performed using multiple regression. The empirical research findings indicate that the investment opportunity set has a positive effect on increasing firm value, while capital structure has a negative effect on decreasing it. Institutional ownership and free cash flow do not determine firm value, so free cash flow does not serve as a control variable. The main finding of this study is revealing that capital structure plays a role in strengthening the effect of the relationship between investment opportunity sets on firm value. Acknowledgments This research is an independent study that is not funded by donor agencies.

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The Effect of DER, Firm Size, and CR on PBV with ROE as an Intervening Variable

Cited by 4 publications

References 12 publications

pengaruh profitabilitas, struktur modal, dan ukuran perusahaan pada nilai perusahaan (Studi Pada Perusahaan Telekomunikasi)

pengaruh profitabilitas, struktur modal, dan ukuran perusahaan pada nilai perusahaan (Studi Pada Perusahaan Telekomunikasi)

Determinants of Company Value: Empirical Evidence from Consumer Goods Industrial Companies in Indonesia

Does capital structure moderate the impact of the investment opportunity set and institutional ownership on firm value?

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