CD Tesis
Pengaruh Pertumbuhan Perusahaan, Ukuran Perusahaan, Kepemilikan Manajerial, Dan Likuiditas Terhadap Nilai Perusahaan Dengan Struktur Modal Sebagai Variabel Moderasi (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2021)
Firm value is an investor's view of the level of success of a company that is
closely related to the company's stock price. This can be interpreted that the
measure of the company's success is seen from the company's ability to prosper its
shareholders. If the stock price is high, then the value is also high. The
development of the capital market in Indonesia is currently experiencing
instability since the Covid-19 pandemic. The capital market in Indonesia is one of
the countries that has experienced a drastic decline. Companies ranging from the
infrastructure sector, agriculture, various industries, mining and others have
started to weaken, thus affecting the value of these companies.
The purpose of this study was to analyze the effect of company growth
rate, company size, managerial ownership and liquidity on firm value with capital
structure as a moderating variable in manufacturing companies listed on the
Indonesian stock exchange. The population in this study are manufacturing
companies listed on the Indonesian stock exchange in 2018-2021. The sampling
method used was purposive sampling. So that there were 34 companies that met
the criteria and became the research sample. The data analysis technique uses
multiple linear regression analysis and moderated regression analysis.
The test results show that the company's growth rate and company size
have an effect on firm value in the pre-pandemic period, on the other hand the
company growth rate and company size variables have no effect on firm value
during the pandemic. Managerial ownership and liquidity variables had no effect
on company value before and during the pandemic. The capital structure is able
to moderate and strengthen the effect of the company's growth rate on firm value
and the capital structure is able to moderate and weaken the effect of firm size on
firm value, whereas the capital structure is not able to moderate the effect of
managerial ownership and liquidity on firm value. The results of this study are
expected to provide an overview of the importance of the company's growth rate,
company size, managerial ownership, liquidity and capital structure in the
company.
Key Words : Firm Value, Company Growth Rate, Company Size, Capital
Structure
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