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Pengaruh Profitabilitas ,Pertumbuhan Perusahaan ,Struktur Kepemilikan , Dan Ukuran Perusahaan Terhadap Struktur Modal Dan Nilai Perusahaan (Studi Pada Perusahaan Manufaktur Di Bursa Efek Indonesia)
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This study aims to examine and examine the effect of profitability, company growth, ownership structure and firm size on firm value through capital structure as a mediation variable on manufacturing companies In Indonesia Stock Exchange. The analysis model used is the model of structural equation and analytical tool using Smart Partial Least Square (PLS). The number of companies studied are 17 companieswith observation year during 2009-2014. Research sampling with purposive sampling method based on the criteria of manufacturing companies listed in Indonesia Stock Exchange during the observation period, 2009-2014, has paid cash dividend, has complete data about Debt to Equity Ratio (DER), Dividend per share the previous year, Return on Equity (ROE), Rate of Return on Assets (ROA), Earning Per Share (EPS), has been audited by a public accountant with an unqualified auditor's opinion, publishes consecutive financial statements, and has positive equity, Observation of 17emittenwith 102 observation periods.The results in found that profitability, company growth, firm size, and capital structure have an effect on firm value, but the ownership structure has no effect on firm value. The ownership structure affects the capital structure but profitability, company growth, and firm size have no effect on capital structure. Furthermore, there is found mediation of capital structure on indirect influence of company growth, ownership structure, and firm size to firm value, but there is no mediation of capital structure on indirect effect of profitability to firm value. The findings of this study support Signaling Theory, Packing Order Theory, Agency Theory, and Static trade-off theory.Keywords: Profitability, Growth Company, Ownership Structure, Firm Size, Capital Structure, Firm Value, Manufacturing company, Capital Market.
FKIP Universitas Halu Oleo
Title: Pengaruh Profitabilitas ,Pertumbuhan Perusahaan ,Struktur Kepemilikan , Dan Ukuran Perusahaan Terhadap Struktur Modal Dan Nilai Perusahaan (Studi Pada Perusahaan Manufaktur Di Bursa Efek Indonesia)
Description:
This study aims to examine and examine the effect of profitability, company growth, ownership structure and firm size on firm value through capital structure as a mediation variable on manufacturing companies In Indonesia Stock Exchange.
The analysis model used is the model of structural equation and analytical tool using Smart Partial Least Square (PLS).
The number of companies studied are 17 companieswith observation year during 2009-2014.
Research sampling with purposive sampling method based on the criteria of manufacturing companies listed in Indonesia Stock Exchange during the observation period, 2009-2014, has paid cash dividend, has complete data about Debt to Equity Ratio (DER), Dividend per share the previous year, Return on Equity (ROE), Rate of Return on Assets (ROA), Earning Per Share (EPS), has been audited by a public accountant with an unqualified auditor's opinion, publishes consecutive financial statements, and has positive equity, Observation of 17emittenwith 102 observation periods.
The results in found that profitability, company growth, firm size, and capital structure have an effect on firm value, but the ownership structure has no effect on firm value.
The ownership structure affects the capital structure but profitability, company growth, and firm size have no effect on capital structure.
Furthermore, there is found mediation of capital structure on indirect influence of company growth, ownership structure, and firm size to firm value, but there is no mediation of capital structure on indirect effect of profitability to firm value.
The findings of this study support Signaling Theory, Packing Order Theory, Agency Theory, and Static trade-off theory.
Keywords: Profitability, Growth Company, Ownership Structure, Firm Size, Capital Structure, Firm Value, Manufacturing company, Capital Market.
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