Dampak Kontrol keluarga dan Kebijakan Struktur Modal terhadap Nilai Perusahaan pada Perusahaan-perusahaan Terbuka Non Keuangan di Indonesia
| Main Author: | Sugiarto Sugiarto |
|---|---|
| Format: | Article eJournal |
| Bahasa: | eng |
| Terbitan: |
Tarumanagara University
, 2012
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| Subjects: | |
| Online Access: |
http://journal.tarumanagara.ac.id/index.php/em/article/view/867 |
Daftar Isi:
- Family controlled firms tend to use capital structure decisions that maximize their firm’s value and to protect the families’ highly valued private benefits. Panel data from 137 non-financial publicly listed firms in Indonesia from 1996 to 2005 were used to investigate the impact of family control and their capital structure decisions to the firm value. Firms stock price’s and firms stock return’s were used as the firm value proxies. Empirical test of the study found several important findings. The presence of family control has significant effect on the firm value. It has a negative significant impact to the firms stock price’s while a positive significant impact to the firms stock return’s.