Factors Affecting Company Value

##plugins.themes.academic_pro.article.main##

Khairul Rahman
Mohamad Fany Alfarisi
Masyhuri Hamidi

Abstract

This study aims to analyze the effect of managerial Ownership Structure, Liquidity, Profitability, Profit Growth and Capital Structure on firm value in manufacturing companies in the basic and chemical industrial sectors as well as in the consumer goods sector. The population of this study amounted to 142 companies listed on the IDX and used a sample of 20 companies in the basic and chemical industry sector and 16 companies in the consumer goods sector that have been listed on the IDX for the 2016-2020 period. Sampling in this study using non-probability sampling method using purposive sampling technique. The results of research in the basic and chemical industry sectors obtained that managerial ownership structure has an insignificant negative effect on firm value, Liquidity has a positive and insignificant effect on firm value and profitability, growth earnings and capital structure have a negative and significant effect on firm value in the basic and chemical industry sectors

##plugins.themes.academic_pro.article.details##

How to Cite
Rahman, K., Mohamad Fany Alfarisi, & Masyhuri Hamidi. (2022). Factors Affecting Company Value. Enrichment : Journal of Management, 12(5), 3684-3694. https://doi.org/10.35335/enrichment.v12i5.887

References

Al-Najjar, B., & Al-Najjar, D. (2017). The impact of external financing on firm value and a corporate governance index: SME evidence. Journal of Small Business and Enterprise Development, 24(2), 411–423. https://doi.org/10.1108/JSBED-11-2016-0172
Al-Slehat, Z. A. F. (2019). Impact of Financial Leverage, Size and Assets Structure on Firm Value: Evidence from Industrial Sector, Jordan. International Business Research, 13(1), 109. https://doi.org/10.5539/ibr.v13n1p109
Apriliana, & fidiana. (2018). PENGARUH GOOD CORPORATE GOVERNANCEDAN PERTUMBUHAN LABA TERHADAP NILAI PERUSAHAAN.
Asante-Darko, D., Adu Bonsu, B., Famiyeh, S., Kwarteng, A., & Goka, Y. (2018). Governance structures, cash holdings and firm value on the Ghana Stock Exchange. Corporate Governance (Bingley), 18(4), 671–685. https://doi.org/10.1108/CG-07-2017-0148
ben Fatma, H., & Chouaibi, J. (2021). Corporate governance and firm value: a study on European financial institutions. International Journal of Productivity and Performance Management. https://doi.org/10.1108/IJPPM-05-2021-0306
Chia, Y. E., Lim, K. P., & Goh, K. L. (2020). Liquidity and firm value in an emerging market: Nonlinearity, political connections and corporate ownership. North American Journal of Economics and Finance, 52. https://doi.org/10.1016/j.najef.2020.101169
Choi, S., Salam, M. A., & Kim, Y. (2020). Foreign currency derivative usage and firm value in Bangladesh: comparative analysis between exporters and non-exporters under exchange rate movements. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-08-2019-0641
Connelly, J. T., Limpaphayom, P., & Nagarajan, N. J. (2012). Form versus substance: The effect of ownership structure and corporate governance on firm value in Thailand. Journal of Banking and Finance, 36(6), 1722–1743. https://doi.org/10.1016/j.jbankfin.2012.01.017
Gusti Ayu Diah Novita Yanti, i, & Putu Ayu Darmayant, ni. (2019). PENGARUHPROFITABILITAS, UKURAN PERUSAHAAN, STRUKTURMODAL, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAANMAKANAN DAN MINUMAN. E-Jurnal Manajemen, 8, 2297–2324.
Ibhagui, O. W., & Olokoyo, F. O. (2018). Leverage and firm performance: New evidence on the role of firm size. North American Journal of Economics and Finance, 45, 57–82. https://doi.org/10.1016/j.najef.2018.02.002
Irawan, D., & Kusuma, N. (2019). PENGARUH STRUKTUR MODAL DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN. Jurnal Aktual STIE Trisna Negara, 17(1), 66–81.
Karim, S., Naeem, M. A., & Ismail, R. B. (2022). Re-configuring ownership structure, board characteristics and firm value nexus in Malaysia: the role of board gender and ethnic diversity. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-01-2021-0004
Li, Y., Gong, M., Zhang, X. Y., & Koh, L. (2018). The impact of environmental, social, and governance disclosure on firm value: The role of CEO power. British Accounting Review, 50(1), 60–75. https://doi.org/10.1016/j.bar.2017.09.007
Likha, M., & Fitria, A. (2019). PENGARUH PERTUMBUHAN LABA, KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DIMODERASI CORPORATE SOCIAL RESPONSIBILITY.
Masytari, A., Maisur, & Nazariah. (2019). PENGARUH RASIO KEUANGAN TERHADAP NILAI PERUSAHAAN (PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI TAHUN 2013-2017). 1(2).
Mishra, R., & Kapil, S. (2017). Effect of ownership structure and board structure on firm value: evidence from India. Corporate Governance (Bingley), 17(4), 700–726. https://doi.org/10.1108/CG-03-2016-0059
Mursalini, W. I., Tafdil, H., & Masyhuri, H. (2017). Analysis of funding, working capital turnover, liquidity and sales growth to profitability. Advanced Science Letters, 9, 8341–8346.
Musallam, S. R. M. (2020). State ownership and firm value: simultaneous analyses approach. Journal of Asia Business Studies, 14(1), 50–61. https://doi.org/10.1108/JABS-02-2019-0062
Nugraha, R. A., & Alfarisi, M. F. (2020). PENGARUH PROFITABILITAS, LEVERAGE, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN. Jurnal Mirai Management, 5.
Nurkhin, A., Wahyudin, A., & Fajriah, A. S. A. (2017). Relevansi Struktur Kepemilikan terhadap Profitabilitas dan Nilai Perusahaan Barang Konsumsi. Jurnal Akuntansi Multiparadigma. https://doi.org/10.18202/jamal.2017.04.7038
Osazuwa, N. P., & Che-Ahmad, A. (2016). The moderating effect of profitability and leverage on the relationship between eco-efficiency and firm value in publicly traded Malaysian firms. Social Responsibility Journal, 12(2), 295–306. https://doi.org/10.1108/SRJ-03-2015-0034
Pakekong, M. I., Murni, S., Rate, P. v, & Struktur…, P. (2019). PENGARUH STRUKTUR KEPEMILIKAN, KEBIJAKAN DIVIDEN DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN ASURANSI YANG TERDAFTAR DI BEI PERIODE 2012-2016. 611 Jurnal EMBA, 7(1), 611–620.
Ramdhonah, Z., Solikin, I., & Sari, M. (2019). Pengaruh Struktur Modal, Ukuran Perusahaan, Pertumbuhan Perusahaan, Dan Profitabilitas Terhadap Nilai Perusahaan(Studi Empiris Pada Perusahaan Sektor Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2011-2017). JURNAL RISET AKUNTANSI DAN KEUANGAN, 7, 67–82.
Sembiring, S., & Trinawati, I. (2019). FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN. http://jurnaltsm.id/index.php/JBA
Septriana, I., & Mahaeswari, H. F. (2019). Pengaruh Likuiditas, Firm Size, dan Profitabilitas Terhadap Nilai Perusahaan Pengaruh Likuiditas, Firm Size, dan Profitabilitas Terhadap Nilai Perusahaan (Studi pada Perusahaan Pertambangan yang terdaftar di BEI Periode 2013-2017).
Sudiani, N. K. A., & Darmayanti, N. P. A. (2016). PENGARUH PROFITABILITAS, LIKUIDITAS, PERTUMBUHAN, DANINVESTMENT OPPORTUNITY SET TERHADAP NILAI PERUSAHAAN. E-Jurnal Manajemen Unud, 4545–4574.
Suryani, A. (2020a). Analisis Leverage Melalui Pertumbuhan Laba dan Pengaruhnya terhadap Nilai Perusahaan. J-MAS (Jurnal Manajemen Dan Sains), 5(1), 88. https://doi.org/10.33087/jmas.v5i1.153
Sutama, D. R., & Lisa, E. (2018). PENGARUH LEVERAGE DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN (Studi pada Perusahaan Sektor Manufaktur Food and Beverage yang terdaftar di Bursa Efek Indonesia).
Tripathy, A., & Uzma, S. H. (2021). Does debt heterogeneity impact firm value? Evidence from an emerging context. South Asian Journal of Business Studies. https://doi.org/10.1108/SAJBS-06-2020-0179