Savitri, Enni (2012) Variabel Anteseden dari Struktur Modal: Dampaknya terhadap Nilai Perusahaan (Studi pada Perusahaan Manufaktur di Bursa Efek Indonesia). Doctor thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk mengukur dan menganalisis pengaruh profitabilitas, ukuran perusahaan, peluang pertumbuhan, struktur aktiva, non debt tax shield , keunikan dan dinamika lingkungan terhadap struktur modal dan pengaruh struktur modal terhadap nilai perusahaan pada sektor manufaktur di Bursa Efek Indonesia. Hasil penelitian ini diharapkan dapat memperkaya dan melengkapi khasanah ilmu pengetahuan dibidang manajemen keuangan, terutama struktur modal. Dengan menggunakan pendekatan relijiusitas yang mengintegrasikan variabel anteseden dari struktur modal guna kemakmuran pemilik perusahaan, dapat memberikan manfaat bagi para akademisi dan praktisi. Populasi pada perusahaan ini adalah perusahaan manufaktur yang terdaftar dari tahun 2005 sampai 2009 yaitu sebanyak 106 perusahaan. Metode sampling menggunakan metode sensus atau sampel jenuh. Penelitian menggunakan metode kuantitatif dan metode analisis menggunakan analisis jalur ( path analysis ). Hasil temuan yang menyatakan bahwa: (1) Peningkatan profitabilitas mampu menurunkan struktur modal. (2) Peningkatan ukuran perusahaan mampu meningkatkan struktur modal. (3) Membaiknya pertumbuhan tidak mampu memperbaiki struktur modal. (4) Peningkatan struktur aktiva tidak mampu meningkatkan struktur modal. (5) Meningkatnya non debt tax shield tidak menurunkan struktur modal. (6) Peningkatan keunikan menurunkan struktur modal. (7) Peningkatan dinamika lingkungan menurunkan struktur modal. (8) Penurunan struktur modal tidak mempengaruhi nilai perusahaan.
English Abstract
This research aims at measuring and analyzing the effects of profitability, company measurement, development opportunity, asset structure, non-debt tax shield, and the dynamic, unique environment of a company toward its capital structure and the effects of capital structure on the value of manufacturing companies at Indonesia Stock Exchange. It is expected that the research findings can contribute to the development of the study on financial management, especially on capital structure. By applying an approach of religiosity integrating the antecedent variables of capital structure for the favor of the company owner is considered advantageous for scientists and practitioners of the field. The research population was the 106 manufacturing companies which were registered at the Indonesia Stock Exchange from 2005 to 2009. To collect the data, census or saturation sampling was used. Then, as a quantitative study, path analysis was conducted to analyze the data. The research on those companies has revealed these findings: (1) Increasing profitability can reduce the capital structure. (2) Increasing the size of a company can increase its capital structure. (3) Improving the development of a company doest not improve its capital structure. (4) Increasing the asset structure does not increase the capital structure. (5) Increasing non-debt tax shield does not reduce the capital structure. (6) Increasing uniqueness of a company does reduce the capital structure. (7) Increasing the environment dynamics does reduce the capital structure. (8) Reducing the capital structure does not affect the value of the company.
| Item Type: | Thesis (Doctor) |
|---|---|
| Identification Number: | DES/658.152/SAV/v/061200765 |
| Subjects: | 600 Technology (Applied sciences) > 658 General management > 658.1 Organization and financial management |
| Divisions: | S2/S3 > Doktor Kimia, Fakultas MIPA |
| Depositing User: | Endro Setyobudi |
| Date Deposited: | 18 Apr 2013 12:02 |
| Last Modified: | 18 Apr 2013 12:02 |
| URI: | http://repository.ub.ac.id/id/eprint/161143 |
Actions (login required)
 |
View Item |