Open AccessIDENTIFIKASI EKSPEKTASI INVESTOR MELALUI KEBIJAKAN STRUKTUR MODAL, PROFITABILITAS, UKURAN PERUSAHAAN DAN GCPI
Author(s) -
Sugeng Haryanto
Publication year - 2014
Publication title -
jdm: jurnal dinamika manajemen/jurnal dinamika manajemen jurusan manajemen fakultas ekonomi universitas negeri semarang
Language(s) - English
Resource type - Journals
eISSN - 2337-5434
pISSN - 2086-0668
DOI - 10.15294/jdm.v5i2.3660
Subject(s) - business administration , business , nonprobability sampling , mathematics , population , sociology , demography
Penelitian ini bertujuan untuk menganalisis pengaruh kausalitas antara kebijakan struktur modal, ukuran perusahaan, profitabilitas yang diukur dengan ROA dan perapan GCG yang diukur dengan Good Corporate Perception Index (GCPI) terhadap ekspektasi investor yang diukur dengan nilai perusahaan. Teknik sampling yang digunakan dalam penelitian ini adalah purposive sampling. Sampel dalam penelitian ini adalah perusahan yang go public dan masuk dalam Indonesia Most Trusted Companies. Periode penelitian selama tahun 2012 dan 2013, serta mempublikasikan laporan keuangan 2012-2013. Jumlah sampel sebanyak 48 perusahaan. Teknik analisis yang digunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa kebijakan struktur modal dan ukuran perusahaan tidak berpengaruh, sedangkan profitabilitas dan GCPI berpengaruh terhadap ekspektasi investor. Secarasimultan variabel kebijakan struktur modal, ukuran peusahaan, profitabilitas dan GCPI berpengaruh terhadap ekspektasi investor. The objective of the study was to analyze the causality influence among capital structure policy, firm size, profitability which was measured by ROA and the implementation of GCG which was measured by Good Corporate Perception Index (GCPI) toward the investors’ expectations which was measured by the company value. It was a purposive sampling study. The samples of this study were go public companies listed on the Indonesia’s Most Trusted Companies. The period of the study was in 2012 and 2013, and financial reports from 2012 to 2013. The total samples were 48 companies. The data were analyzed by multiple linear regressions. The result of the study showed that the capital structure policy and firm size did not give any influence, whereas the profitability and GCPI gave influence toward the investors’ expectations. Furthermore; capital structure policy, firm size, profitability and GCPI variables influenced simultaneously toward investors’ expectations.