PENGARUH STRUKTUR KEPEMILIKAN, MODAL INTELEKTUAL, DAN FINANCIAL DISTRESS TERHADAP NILAI PERUSAHAAN
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Institusion
Sekolah Tinggi Ilmu Ekonomi Perbanas Surabaya
Author
SETIYAWATI, RINA
Subject
657.042 - FINANCIAL ACCOUNTING
Datestamp
2017-05-15 10:59:12
Abstract :
The achievement of firm value may influence positive impact, both internal and external?s company. The firm value can increase prosperity for our shareholders, so that shareholders will invest capital to the company. The firm value basically can be measured through several aspects, one of which is using the company's stock price. The company?s stock price reflects investors' overall assessment of any equity held and the high stock price indicates the company has a high firm value. In this research use Tobin?s Q as firm value measurement. The purposes of this research is to analyse the influence of managerial ownership, institusional ownership, intellectual capital and financial distress firm value. The population of this study is manufacturing companies listed in Indonesia Stock Exchange year period 2007 ? 2011. The samples in this study using the method of purposive sampling. Based on sampling criteria in this study, total observations is 270 observations, but based on the research data are not normally distributed. Based this condition, the researcher do the conversion value data into standardized score and the final sample in this study is 204 observations. The hypothesis of this research is tested by multiple regression analysis. The result of research showed that (1) managerial ownership has no influence on firm value, (2) institusional ownership has influence on firm value, (3) intellectual capital has influence on firm value and (4) financial distress has no influence on firm value. Keywords: Firm value, managerial ownership, institusional ownership, intellectual capital and financial distress
The achievement of firm value may influence positive impact, both internal and external?s company. The firm value can increase prosperity for our shareholders, so that shareholders will invest capital to the company. The firm value basically can be measured through several aspects, one of which is using the company's stock price. The company?s stock price reflects investors' overall assessment of any equity held and the high stock price indicates the company has a high firm value. In this research use Tobin?s Q as firm value measurement. The purposes of this research is to analyse the influence of managerial ownership, institusional ownership, intellectual capital and financial distress firm value. The population of this study is manufacturing companies listed in Indonesia Stock Exchange year period 2007 ? 2011. The samples in this study using the method of purposive sampling. Based on sampling criteria in this study, total observations is 270 observations, but based on the research data are not normally distributed. Based this condition, the researcher do the conversion value data into standardized score and the final sample in this study is 204 observations. The hypothesis of this research is tested by multiple regression analysis. The result of research showed that (1) managerial ownership has no influence on firm value, (2) institusional ownership has influence on firm value, (3) intellectual capital has influence on firm value and (4) financial distress has no influence on firm value. Keywords: Firm value, managerial ownership, institusional ownership, intellectual capital and financial distress
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