Pengaruh risiko bisnis, asset growth, dan kepemilikan institusional terhadap nilai perusahaan melalui struktur modal sebagai variabel intervening

Authors

  • Dony Ardiansyah Universitas Pancasila
  • Suratno Suratno Universitas Pancasila
  • Mombang Sihite Universitas Pancasila

Keywords:

Business Risk, Asset growth, Institutional Ownership, Firm Value, Capital Structure

Abstract

This study aims to analyze the factors that affect the quality of firm value by investigating and analyzing the effect of Business Risk, Asset growth, and Institutional Ownership on Firm Value with the Capital Structure variable as an intervening variable. The sample in this study was a manufacturing company listed on the Indonesia Stock Exchange for the 2015-2019 period with certain criteria, which ultimately resulted in the number of 104 companies using the purposive sampling method. This research uses Path Analysis technique.

The results of this study indicate that Business Risk has a negative effect on firm value. Asset growth has a positive effect on firm value. Institutional ownership has a positive effect on firm value. Capital structure has a positive effect on firm value. And in this study proves that Capital Structure is able to mediate the influence of Asset growth, and Institutional Ownership on Firm Value. However, the capital structure is not able to mediate business risk on firm value. 

Downloads

Published

2022-01-25

Issue

Vol. 19 No. 1 (2022): AkunNas

Section

Original Researh Articles

License

AkunNas require a formal written transfer agreement from the author(s) for each article published. It is required to obtain a written confirmation from authors in order to grant the rights for papers published by AkunNas  The Author(s) retain the copyright and publishing right, and grant AkunNas the right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.