PENGARUH LEVERAGE, KEBIJAKAN DIVIDEN DAN KEPEMILIKAN TERKONSENTRASI TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN-PERUSAHAAN DENGAN HIGH DAN LOW GROWTH OPPORTUNITIES
The importance of corporate financial decisions (i.e., capital structure and dividends) on firm value has been at the heart of academic debate in recent decades.. Capital structure and dividend policy will be closely related to company ownership structure. Company structure ownership has important r...
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| Main Authors: | , |
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| Format: | Theses and Dissertations NonPeerReviewed |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2011
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| Subjects: | |
| Online Access: | https://repository.ugm.ac.id/89998/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=51565 |
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| Institution: | Universitas Gadjah Mada |
| Summary: | The importance of corporate financial decisions (i.e., capital structure and
dividends) on firm value has been at the heart of academic debate in recent decades..
Capital structure and dividend policy will be closely related to company ownership
structure. Company structure ownership has important role in controlling the
performance of a company, and its about how the company runs the achievement of
goals related to the comformity between the shareholders and managers. The role of
investment opportunities makes its combination with the company's assets affect the
capital structure, dividends, and all accounting policies.
This study is aimed to to examine the effect of the presence or absence of
growth opportunities on the subsequent effect of leverage, dividend policy, and
ownership concentration on firm value. This study uses a sample of manufacturing
firms listed in Indonesian Stock Exchange between 2005 and 2009. This study uses
OLS as the analysis tool to estimate the dependent variables. This study uses growth
opportunities as moderating variable in dealing with the inconsistency on the
previous researchs
The result of this research indicates that leverage and dividend policy has a
negative and significant effects on firms value in high growth opportunities firms and
ownership concentration is found to have a positive effects on firm value. Whereas
leverage has positif and significant effects and dividend policy has a negative and
significant effects on firms value in low growth opportunities firms and ownership
concentration is found to have a negative effects on firms value |
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