Open AccessPENGARUH KEBIJAKAN UTANG PADA NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI
Author(s) -
I Pande Putu Suwisnaya,
Komang Ayu Krisnadewi
Publication year - 2017
Publication title -
jurnal ilmiah wahana akuntansi
Language(s) - English
Resource type - Journals
ISSN - 2302-1810
DOI - 10.21009/wahana.012/1.1
Subject(s) - stock exchange , enterprise value , business , debt , value (mathematics) , debt ratio , business administration , regression analysis , moderation , monetary economics , debt to equity ratio , economics , financial system , accounting , finance , mathematics , statistics , population , demography , sociology , nonprobability sampling
The purpose of this study is to provide empirical evidence about the effect of debt policy on the company’s value where the size of the company as a moderating variable. This study was performed on companies listed in Indonesia Stock Exchange in 2012-2015. The total sample of 88 companies with a total number of observations as much as 352 observations. The analysis technique used is the moderated regression analysis (MRA). The company's value in this study is proxied by the price book value (PBV), while the debt policy is proxied by debt to equity ratio (DER), and the size of the company is proxied by the natural logarithm of total assets. Based on the analysis found that the debt policy significant positive effect on the value of the company, which weakens the relationship between the size of the company's debt policy on the value of the company.