PretiAgustinaHidayati (2008) Analisis Hubungan Investment Opportunity Set (IOS) dengan Realisasi Pertumbuhan Perusahaan, Kebijakan Pendanaan dan Kebijakan Dividen pada Perusahaan yang listing di BEJ. Sarjana thesis, Universitas Brawijaya.
Abstract
Tujuan penelitian ini adalah untuk memberikan tambahan bukti empiris mengenai korelasi Investment Opportunity Set (IOS) terhadap realisasi pertumbuhan, hubungan antara IOS dengan kebijakan pendanaan, kebijakan deviden. Penelitian ini dilakukan dengan menggunakan sampel 31 perusahaan manufaktur. Proksi yang digunakan sebagai indikator pertumbuhan perusahaan adalah; Market Value Asset to Book Value Asset (MVA/BVA), Market Value Equity to Book Value Equity (MVE/BVE), Price Earnings Ratio (PER), Capital Expenditure to Book Value Asset (CAP/BVA), Capital Expenditure to Market Value Asset (CAP/MVA). Rasio yang digunakan sebagai proksi kebijakan pendanaan adalah Market Debt Equity (MDE) dan Book Debt Equity (BDE), sedangkan proksi kebijakan dividen adalah rasio Dividend Payout (DP) dan Dividend Yield (DY). Hasil penelitian menunjukkan bahwa PER berkorelasi positif terhadap ekuitas, CAP/BVA dan CAP/MVA memiliki korelasi positif terhadap pertumbuhan aktiva dan ekuitas. Perusahaan bertumbuh memiliki kebijakan pendanaan melalui hutang yang lebih rendah dibandingkan perusahaan tidak bertumbuh. Hasil tersebut signifikan dengan pengukuran market debt to equity ratio. Perusahaan bertumbuh memiliki kebijakan deviden lebih rendah dibandingkan perusahaan tidak bertumbuh yang signifikan dengan pengukuran devidend payout ratio.
English Abstract
The objective of this research is to give additional empirical evidence on correlation between Investment Opportunity Set (IOS) and realized firm growth, correlation between IOS with financing policies and dividend policies. This research was done by using 31 sample of manufacturing company. Proxies were used as firm growth indicator; Market Value Asset to Book Value Asset (MVA/BVA), Market Value Equity to Book Value Equity (MVE/BVE), Price Earnings Ratio (PER), Capital Expenditure to Book Value Asset (CAP/BVA), Capital Expenditure to Market Value Asset (CAP/MVA). Ratio were used as financing policy proxies; Market Debt Equity (MDE) and Book Debt Equity (BDE), moreover proxies were used as dividend policy indicator; Dividend Payout Ratio (DP) and Dividend Yield (DY). Result of the research showed that PER positively correlated with equity realized growth, CAP/BVA and CAP/MVA positively correlated with assets and equity realized growth. The growth firms have lower financing (measured by market debt to equity) and dividend (measured by dividend payout ratio) policy than non growth firms. Keywords: IOS, firm realized growth, financing policies, dividend policies. Created with novaPDF Printer (www.novaPDF.com). Please register to remove this message.
| Item Type: | Thesis (Sarjana) |
|---|---|
| Identification Number: | SKR/FE/2008/25/050800335 |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Fakultas Ekonomi dan Bisnis > Ilmu Ekonomi |
| Depositing User: | Unnamed user with email repository.ub@ub.ac.id |
| Date Deposited: | 13 Mar 2008 11:10 |
| Last Modified: | 21 Oct 2021 03:24 |
| URI: | http://repository.ub.ac.id/id/eprint/103530 |
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