Open AccessFAKTOR –FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN BUMN DI BURSA EFEK INDONESIA TAHUN 2011-2015
Author(s) -
Ardian Prima Putra,
Sri Wahyu Agustiningsih,
Purwanto Purwanto
Publication year - 2017
Publication title -
manajemen dewantara
Language(s) - English
Resource type - Journals
eISSN - 2579-4612
pISSN - 2579-4590
DOI - 10.26460/md.v1i2.1636
Subject(s) - stock exchange , leverage (statistics) , variables , business , monetary economics , enterprise value , return on assets , asset turnover , control variable , regression analysis , revenue , economics , econometrics , finance , statistics , mathematics
This study aims to examine the factors that affect the value of state enterprises in the Indonesia Stock Exchange Year 2011-2015. State companies have an important role in the Indonesian economy. State companies also serve to generate revenue for the Indonesian government to fund the Indonesian State Budget. Factors affecting the value of state firms tested in this research are Cash Holding, Leverage, Exchange Rate, Net Working Capital, ROA, Size, and Firm Age. In addition, this study also uses control variables to test the effect of independent variables on the dependent variable of firm value. The control variables used in this study are International Trade, Growth Opportunity, GDP per capita, and Total Asset Turnover Ratio. This study uses a sample of state companies listed on the IDX 2011-2015. This research uses multiple regression analysis to test the influence of independent variable and control variable to Dependent variable. The results show that Cash Holding, Leverage, Exchange Rate, Net Working Capital, ROA, Size, Firm Age, International Trade, Growth Opportunity, GDP per capita, and Total Asset Turnover Ratio simultaneously have significant effect on firm value measured by tobin-q. The t test shows that firm size partially has a significant negative effect on firm value while other variables show insignificant results.