Determination of Factors Affecting Firm Value in Manufacturing Companies

Monica Pratiwi

doi:10.55927/ijba.v4i3.9581

Authors

Monica Pratiwi Universitas Swadaya Gunung Jati, Cirebon

DOI:

https://doi.org/10.55927/ijba.v4i3.9581

Keywords:

Firm Value, Leverage, Profitability, Firm Siza, Managerial Ownership, CSR

Abstract

The aim of this research is to explore the impact of leverage, profitability, company size, managerial ownership, and corporate social responsibility (CSR) on the value of a company. The population that is the focus of this study are 68 manufacturing companies listed on IDX during the 2019-2022 period. The method applied is purposive sampling. The results showed that leverage as well as profitability have a significant influence on firm value, while firm size, managerial ownership, and CSR do not have any significant influence on firm value.

Downloads

Download data is not yet available.

References

Badjuri, A. (2011). Faktor-Faktor Fundamental, Mekanisme Corporate Social Responsibility (CSR) Perusahaan Manufaktur dan Sumber Daya Alam di Indonesia. Dinamika Keuangan Dan Perbankan, 3(1), 38–54.

Chen, J., Jiang, C., & Lin, Y. (2014). What determine firms’ capital structure in China? Managerial Finance, 40(10), 1024–1039. https://doi.org/10.1108/MF-06-2013-0163

Cheng, M., & Christiawan, Y. J. (2011). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Abnormal Return. Jurnal Akuntansi Dan Keuangan, 13(1), 24–36. https://doi.org/10.9744/jak.13.1.24-36

Chipeta, C., & Deressa, C. (2016). Firm and country specific determinants of capital structure in Sub Saharan Africa. International Journal of Emerging Markets, 11(4), 649–673. https://doi.org/10.1108/IJoEM-04-2015-0082

Cho, H. J., & Pucik, V. (2005). Relationship between innovativeness, quality, growth, profitability, and market value. Strategic Management Journal, 26(6), 555–575. https://doi.org/10.1002/smj.461

Defadjria, S. & S. (2018). Determinants of the Capital Structure Evidence From the Property Determinants of the Capital Structure Evidence From the Property and Real Estate Companies Listed in Indonesia Stock Exchange. International Journal of Current Advanced Reseacrh, 7(4(A)), 2319–6505. http://dx.doi.org/10.24327/ijcar.2018

Dina Shafarina Dwiastuti, & Vaya Juliana Dillak. (2019). Pengaruh Ukuran Perusahaan, Kebijakan Hutang, dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Aset (Akuntansi Riset), 11(1), 137–146.

Elbardan, H., Uyar, A., Kuzey, C., & Karaman, A. S. (2023). CSR reporting, assurance, and firm value and risk: The moderating effects of CSR committees and executive compensation. Journal of International Accounting, Auditing and Taxation, 53(September), 100579. https://doi.org/10.1016/j.intaccaudtax.2023.100579

Ghozali, I. (2011). Ghozali_Imam_2011_Aplikasi_Analisis_Mult.pdf (p. 129).

Hipertensi, P., Wilayah, D. I., & Rw, P. (2016). 3) 123. 7(2009), 43–47.

Ilham, R. N., Irawati, H., Nurhasanah, N., Inuzula, L., Sinta, I., & Saputra, J. (2022). Relationship of Working Capital Management and Leverage on Firm Value: An Evidence from the Indonesia Stock Exchange. Journal of Madani Society, 1(2), 64–71. https://doi.org/10.56225/jmsc.v1i2.129

Inne, A., Ubud, S. P. D., & Kusuma, R. D. D. (2021). The effect of profitability, firm size, liquidity, sales growth on firm value mediated capital structure. International Journal of Business, Economics and Law, 24(4), 15–22.

Jo, H., & Harjoto, M. A. (2011). Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility. Journal of Business Ethics, 103(3), 351–383. https://doi.org/10.1007/s10551-011-0869-y

Kartikasari, E. D., Hermantono, A., & Mahmudah, A. (2019). Good Corporate Governance, Devidend, Leverage, and Firm Value. International Research Journal of Business Studies, 12(3), 301–311. https://doi.org/10.21632/irjbs.12.3.301-311

Mau, M. S. T., & Kadarusman, K. (2022). Kinerja Keuangan Sebagai Pemoderasi Good Corporate Governance, Corporate Social Responsibility dengan Nilai Perusahaan. Jurnal Manajemen Dan Keuangan, 11(1), 1–19. https://doi.org/10.33059/jmk.v11i1.3942

Meythi, Oktavianti, & Martusa, R. (2014). Nilai Perusahaan: Dampak Interaksi Antara Profitabilitas dan Risiko Finansial pada Perusahaan Manufaktur. Jurnal Keuangan Dan Perbankan, 18(1), 40–51.

Mubyarto, N. (2020). The Influence of Profitability on Firm Value with Capital Structure as The Mediator. Jurnal Economia, 16(2), 184–199. https://doi.org/10.21831/economia.v16i2.30405

Nguyen, T. T. D. (2020). An empirical study on the impact of sustainability reporting on firm value. Journal of Competitiveness, 12(3), 119–135. https://doi.org/10.7441/joc.2020.03.07

Nuswandari, C. (2009). Pengaruh Corporate Governance Perception Index terhadap Kinerja Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Jakarta. Jurnal Bisnis Dan Ekonomi (JBE), 16(2), 70–84.

Orbaningsih, D. (2022). The Effect of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) Disclosure on Company Value with Profitability as Moderating Variables. Journal of Economics, Finance And Management Studies, 05(05), 1309–1324. https://doi.org/10.47191/jefms/v5-i5-12

Prastuti, N. K. K., & Budiasih, I. G. A. N. (2015). Pengaruh Good Corporate Governance pada Nilai Perusahaan dengan Moderasi Corporate Social Responsibility. E-Jurnal Akuntansi Universitas Udayaa, 13(1), 114–129. https://ojs.unud.ac.id/index.php/Akuntansi/article/download/11647/10712

Purnamawati, I. G. A., Yuniarta, G. A., & Astria, P. R. (2017). Good Corporate Governance Dan Pengaruhnya Terhadap Nilai Perusahaan Melalui Corporate Social Responsibility Disclosure. Jurnal Keuangan Dan Perbankan, 21(2), 276–286. https://doi.org/10.26905/jkdp.v21i2.505

Santika, R. B., & Sudiyatno, B. (2011). Menentukan Struktur Modal Perusahaan Manufaktur di Bursa Efek Indonesia. Dinamika Keuangan Dan Perbankan, 3(2), 172–182. https://www.unisbank.ac.id/ojs/index.php/fe1/article/view/470

Saputra, H. G., & Fachrurrozie. (2018). Accounting Analysis Journal Hendy Guntur Saputra & Fachrurrozie. Aaj, 4(2), 1–9. http://journal.unnes.ac.id/sju/index.php/aaj

Saputri, M., & Isbanah, Y. (2021). Pengaruh Good Corporate Governance dan Corporate Sosial Responsibility terhadap Nilai Perusahaan dengan Kinerja Keuangan sebagai Variabel Mediasi pada Perusahaan Misscellaneous Industry di BEI Periode 2016-2019. Jurnal Ilmu Manajemen, 9(2), 651. https://doi.org/10.26740/jim.v9n2.p651-669

Saraswati, R. (2010). Pengaruh Corporate Governance Pada Hubungan CSR dan Nilai Perusahaan. Simposium Nasional Akuntansi XIII, 11, 1–24.

Sasurya, A., & Asandimitra, N. (2018). Pengaruh Kepemilikan Manajerial, Keputusan Investasi, Keputusan Pendanaan, dan Kebijakan Deviden terhadap Nilai Perusahaan. BISMA (Bisnis Dan Manajemen), 6(1), 1. https://doi.org/10.26740/bisma.v6n1.p1-10

Smulowitz, S., Becerra, M., & Mayo, M. (2019). Racial diversity and its asymmetry within and across hierarchical levels: The effects on financial performance. Human Relations, 72(10), 1671–1696. https://doi.org/10.1177/0018726718812602

Yan Hendrick S., Z. (2016). Struktur Kepemilikan Dan Nilai Perusahaan. Iqtishadia: Jurnal Kajian Ekonomi Dan Bisnis Islam STAIN Kudus, 9(1), 99–122.

Yang, P., & Di, T. (2015). Stakeholder theory menjelaskan bahwa manajemen tidak hanya bertanggung jawab kepada pemilik tetapi juga kepada stakeholder lainnyai. Accounting Analysis Journal, 4(3), 1–9.

Yunita, Y., & Robiyanto, R. (2021). Determinan Struktur Modal Dan Nilai Perusahaan Manufaktur Di Bursa Efek Indonesia. Matrik : Jurnal Manajemen, Strategi Bisnis Dan Kewirausahaan, 1963, 11. https://doi.org/10.24843/matrik:jmbk.2021.v15.i01.p02

Zammuto, R. F. (2001). Book Review. Administrative Science Quarterly, 46(4), 796–798. https://doi.org/10.2307/3094840