Open AccessSTRUKTUR MODAL DAN NILAI PERUSAHAAN : DIPENGARUHI OLEH UNIQUENESS, TANGIBILITY DAN FINANCIAL FLEXIBILITY
Author(s) -
Delfi Agustiawan,
Yulia Efni,
Gusnardi Gusnardi
Publication year - 2021
Publication title -
current
Language(s) - English
Resource type - Journals
eISSN - 2721-2416
pISSN - 2721-1819
DOI - 10.31258/jc.2.2.278-301
Subject(s) - capital structure , flexibility (engineering) , nonprobability sampling , enterprise value , structural equation modeling , population , capital (architecture) , uniqueness , economics , business , business administration , mathematics , finance , statistics , management , sociology , debt , mathematical analysis , demography , archaeology , history
This study is aimed to examine the effect of uniquenss, tangibility and financial flexibility on capital structure and firm value. The population of this study is miscellaneous industry sector from 2015 - 2019. The sample of the study is all companies were selected by purposive sampling method. Based on the criteria, 33 companies were chosen as the samples of this study. This study used structural equation modeling with partial least square program to test whether the independent variables affect the dependent variables. The results of this study are found that (1) uniqueness has a negative and insignificant effect on capital structure, (2) tangibility has a positive and significant effect on capital structure, (3) financial flexibility has a positive and significant effect on capital structure, (4) uniqueness and tangibility have a positive and significant effect on firm value, whille financial flexibility has a negative and insignificant effect on firm value, (5) tangibility has a positive and significant effect on firm value through capital structure, while uniqueness dan financial flexibility have a negative and insignificant effect on firm value through capital structure, and (6) capital structure has a negative and significant effect on firm value.