PENGARUH STRUKTUR MODAL, INVESTMENT OPPORTUNITY SET DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Perusahaan Perbankan yang Terdaftar di BEI tahun 2009-2013)
| Main Author: | Putri Ratnasari, Dwi |
|---|---|
| Format: | Thesis NonPeerReviewed Book |
| Bahasa: | ind |
| Terbitan: |
, 2015
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| Subjects: | |
| Online Access: |
https://eprints.untirta.ac.id/2239/1/2.%20PENGARUH%20STRUKTUR%20MODAL%2C%20INVESTMENT%20OPPORTUNITY%20SET%20DAN%20LIKUIDITAS%20TERHADAP%20NILAI%20PERUSAHAAN.PDF https://eprints.untirta.ac.id/2239/ |
Daftar Isi:
- ABSTRACT IMPACT OF CAPITAL STRUCTURE, INVESTMENT OPPORTUNITY SET AND LIQUIDITY ON FIRM VALUE (Empirical Studies on Banking Companies Listed in BEI 2009-2013) By Dwi Putri Ratnasari This study aims to determine the impact of capital structure variables as measured by debt-to-equity ratio (DER), investment opportunity set as measured by market-to-book assets ratio (MBA) and liquidity as measured by the current ratio (LIQ) on firm value as proxied by Price to Book Value (PBV) in Banking companies listed in Indonesia Stock Exchange 2009-2013. The population was 39 banking companies. Purposive sampling was used as the sampling technique and the 29 companies selected as the sample met the criteria for the study. This study uses secondary data and multiple regression analysis. The results showed that the capital structure had positive and significant impact on firm value, investment opportunity set had positive and significant impact on firm value and liquidity had negative and does not significant impact on firm value. And firm size as a control variable had positive and significant impact on firm value. Simultaneously capital structure, investment opportunity set and liquidity have a significant effect on firm value. The result of the determination coefficient, the value of adjusted R2 of 0.919 was obtained. This means that 91.9% variation in the dependent variable is the PBV (firm value) can be explained by the variation of the three independent variables, namely capital structure, investment opportunity set and liquidity while the remaining 8,1% is influenced by other factors not be included in the regression model. Keywords: Capital Structure, Investment Opportunity Set, liquidity, firm size and firm value.