CD Skripsi
Pertumbuhan Perusahaan Dan Financial Strength Terhadap Financial Leverage Dan Nilai Perusahaan (Studi Pada Perusahaan Manufaktur Yang Listing Di Bei Tahun 2013-2015)
This study is motivated by many inconsistencies of previous research andthe increasing of business competition, especially on the manufacture sector that give high contribution to GDP. This study aims to analyze the influence of firm growth and financial strength on firm value with financial leverage as an intervening variable.
Path analyze was used to analyze data. Using 96 sample of manufacture firms listed in Indonesia Stock Exchange from 2013-2015, the result showed that firm growth had a positive and significant impact toward financial leverage, however financial strength had a negative and significant impact toward financial leverage. Firm growth and financial strength had a positive and significant impact toward firm value. Furthermore this study found that financial leverage did not intervene the influence of firm value and financial strength toward firm value.
Key Words : firm growth, financial strength, financial leverage, firm value, pecking-order theory, trade-off theory, signalling theory, asset growth, altman z-score, debt to asset ratio (DAR), and price to book value (PBV).
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