PENGARUH PROFITABILITAS, LEVERAGE DAN GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING (PADA PERUSAHAAN SUB SEKTOR PERKEBUNAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2013 – 2018)

UNSPECIFIED PENGARUH PROFITABILITAS, LEVERAGE DAN GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING (PADA PERUSAHAAN SUB SEKTOR PERKEBUNAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2013 – 2018).

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Abstract

THE EFFECT OF PROFITABILITY, LEVERAGE AND GROWTH OPPORTUNITY ON COMPANY VALUES WITH CAPITAL STRUCTURE AS INTERVENING VARIABLES (IN PLANTATION SUB SECTOR COMPANIES LISTED IN INDONESIAN STOCK EXCHANGE (IDX) 2014-2018 PERIOD) The purpose of this study was to determine the effect of Profitability (ROE), Leverage (DAR), and Growth Opportunity (MTBE) on Corporate Value (Tobins’Q) with Capital Structure (DER) as an Intervening Variable in the plantation sub-sector companies. Sampling using purposive sampling method, the sample used in this study are 15 plantation sub-sector companies listed on the Indonesia Stock Exchange during 2014-2018. This study uses regression analysis with intervening variables with the tools used are version 9 Evviews program. The results of this study indicate that profitability (ROE) has a significant positive effect on firm value (Tobins'Q). Leverage (DAR) has a positive and insignificant effect on firm value (Tobins'Q). Growth opportunity (MTBE) has a significant positive effect on firm value (Tobins'Q). Profitability (ROE) has a significant positive effect on capital structure (DER). Leverage (DAR) has a positive but not significant effect on capital structure (DER). Growth opportunity (MTBE) has a significant positive effect on capital structure (DER). Capital structure (DER) has a significant positive effect on firm value (Tobins'Q). Partially the capital structure (DER) can mediate the effect of profitability (ROE) on firm value (Tobins'Q). Capital structure (DER) cannot mediate leverage (DAR) relationships with firm value (Tobins’Q) or be rejected. Capital structure (DER) can mediate the effect of growth opportunity on firm value significantly. Keywords : Capital Structure (DER), Growth Opportunity (MTBE), Leverage (DAR), Profitability (ROE), Corporate Value (Tobins'Q).

Item Type: Article
Divisions: D3 Akuntansi
Depositing User: Krisnando
Date Deposited: 04 Sep 2020 04:07
Last Modified: 04 Sep 2020 04:07
URI: http://repository.stei.ac.id/id/eprint/720

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