Analysis Of Size, ROA, And Growth Of Corporate Value; With Variable Capital Structure As Intervening

Kartika Rusnindita Rusnindita

doi:10.21107/ijseit.v4i2.6242

Analysis Of Size, ROA, And Growth Of Corporate Value; With Variable Capital Structure As Intervening

Kartika Rusnindita Rusnindita

Abstract

The purpose of research to test the effect of SIZE, ROA, and GROWTH on Corporate Value, with Capital Structure as intervening variables in chemical base-based companies. The research approach uses quantitative approach with analysis tool uses SEM Wrap-PLS. The results of the research are: SIZE has a negative effect on Corporate Value; ROA has a positive effect on Corporate Value; Growth has no effect on Corporate Value; Capital Structure has a positive effect on Corporate Value; SIZE does not affect the Capital Structure; ROA has a positive effect on the Capital Structure; Growth has a positive effect on the Capital Structure; Capital Structure mediate indirectly positively between SIZE towards Corporate Value; The Capital Structure mediate positively indirectly between ROA and Corporate Value; Capital Structure mediate indirectly between Growth and Corporate Value.

Full Text:

PDF

References

D. Salvatore, Managerial Economics: Managerial Economics in a Global Economy -5 / E. Book 1. Jakarta: Four Salemba 2005.

EF Brigham and PR Daves, Intermediate Financial Management 9th, SeaHarbor: The Dryden Press, 2007.

S. Husnan, Basics Securities Portfolio Theory & Analysis Ed. 5, Yogyakarta, 2015.

S. Hermuningsih, "Influence Profitability, Growth, Opportunity, Capital Structure of the Company on the Company's Values In Public Companies in Indonesia. "Finances, vol. 16, no. 2, pp. 1-22, 2013.

M. Nurhayati, "Profitability, Liquidity And Company Size Effect on Dividend Policy and Corporate Value Non Services Sector," End of the financial. Business, Vol. 5, no. 2, pp. 144-153, 2013.

ASM Goddess and A. Wirajaya, "Effect of Capital Structure, Profitability and Size of the Company's Corporate Value," E-Journal of Accounting., Vol. 4, no. 2, pp. 358-372, 2013.

F. Prasetyorini, "The Effects of Company Size, Leverage, Price Earning Ratio and Profitability of the Company Value" Management Science., Vol. 1, no. 1, pp. 183-196, 2013.

MSR Pantow, S. Pure, and I. Trang, "Analysis of Company Growth, Size Peursahaan, returm on Assets and Capital Structure Of Listed Company Value in LQ 45," EMBA, Vol. 3, no. 1, pp. 961-971, 2015.

D. Wulandari, "Influence of Profitability, Operating Laverage, Liquidity Cosmos Capital Structure Values Company as an intervening" Account. Analysis. Journal,vol. 2, no. 4, pp. 445-463, 2013.

RAI Sari and MP Priyadi., "Effect of Leverage, Profitability, Size and Growth Opportunity Against Corporate Values," Ris science. Management., Vol. 5, no. 10, pp. 17-36, 2017.

A. Sartono, Financial Management: Theory and Applications 4th Edition, BPFE: Yogyakarta, 2009.

W. Widarjo, "The Influence of Intellectual Capital and Intellectual Capital Disclosure on Corporate Values," Financial Accounting., Vol. 8, no. 2, pp. 157-170, 2011.

Mahfud Sholihin PD and DD Ratmono, SEM-PLS 3.0 For Relations With WarpPLS Nonlinear Social Research and Business, 2014.

I. Ghozali and H. Latan, Partial Least Squares: Concepts, Techniques and Applications Using SmartPLS Program 3.0, Semarang, 2015.

E. Nuraina, "The influence of institutional ownership and size of the company and the value of company's debt policy (Studies in companies listed on the Stock Exchange)," Accounting, Vol. 4, no. 1, pp. 51-70, 2012.

TE Prasetia, P. Tommy, and IS Saerang, "Capital Structure, Company Size Value And Risk Of Automotive Company Company Listed on the Stock Exchange," EMBA, Vol. 2, no. 2, pp. 879-889, 2014.

Garay U. and M. González, "Corporate Governance and Corporate Value: The Case of Venezuela," Corp. Gov. An Int. Rev., Vol. 16, no. 3, pp. 194-209, 2008.

AR Budi Wahyu Mahardhika, "Analysis Of Its Characteristics Affecting The Value Of The Company In Manufacturing Companies Listed In Indonesia Stock Exchange (Idx) Year 2010-2014" balance, Vol. 8, no. 2, pp. 23-47, 2016.

Sudjoko and U. Soebiantoro, "Effect of Shareholding Structure, Leverage, Factor Against Internal and External Factors Corporate Values," Manaj. Entrepreneurship, Vol. 9, no. 1, pp. 41-48, 2007.

F. Daughter Q and F. Fidiana, "Effect of Growth Opportunity, Ownership Structure Policy Against Debt and Corporate Values," Ris science. Manaj., Vol. 5, no. 10, p. 102-123., 2017.

GK Indra, Suhadak, and Z. Arifin, "Analisis Effect Of Profitability (Profitability) And Level Of Growth (Growth) On Capital Structure And Corporate Values (Study on Real Estate and Property Company Listed in Indonesia Stock Exchange (BEI) The period from 2007 to 2011), "Adm. Business, vol. 7, no. 2, pp. 71-91, 2013.

IM Sudana, Corporate Financial Management, Theory & Practice, Erland, Jakarta, in 2011.

BT Prasetya, "Influence of Profitability, Company Size, Growth Opportunity, Liquidity, Asset Structure, Business Risk and Non-Debt Tax Shield to Capital Structure of the Company Sub Sector Consumer Goods" Management Science, Vol. 2, no. 4, pp. 1341-1353, 2014.

AIW Setyawan and NFN Topowijono, "The Influence of Corporate Size, Growth Opportunity, Profitability, Business Risk, Effective Tax Rate, Asset tangibility, Firm Age And Liquidity Of Capital Structure Company (Studies in Sector Corporate Property and Real Estate Listed on the Stock Exchange." Adm. Business, Vol. 31, no. 1, pp. 108-117, 2016.

R. Wiliandri, "The Effect of Ownership and Corporate blockholder Size Of Corporate Debt Policy" Business Economy, Vol. 16, no. 2, pp. 95-102 2011.

Luke Setia Atmaja Theory and Practice of Financial Management, CV.Andi Offset: Yogyakarta, 2008.

Khairin and P. Harto, "Effect of Growth Opportunity, Profitability, Fixed Asset Ratio and Capital Structure Against Market Risk," Diponegoro Journal. Accountant., Vol. 3, no. 2, pp. 767-778, 2014.

Kartini and T. Arianto, "Ownership Structure, Profitability, Growth Assets and Company Size Of Capital Structure On Manufacturing Company," Financial Perbankam., Vol. 12, no. 1, pp. 11-21, 2008.

YES Alib, "Effect of Asset Structure, Profitability, Growth and Size Of Capital Structure On Automotive Company," Science and Ris. Accounting, Vol. 3, no. 1, pp. 35-57, 2015.

MH Siddik and M. Chabachib, "Effect of ROE, CR, SIZE, and Institutional Ownership Of Values Company With Capital Structure intervening variable," Diponegoro Journal. Management, Vol. 6, no. 4, pp. 1-15, 2017.

F. Khoirunnisa, I. Purnamasari, and H. Tanuatmodjo, "Effect Of Capital Structure Of Corporate Values In Textile And Apparel" Bus. Manag. Educ., Vol. 3, no. 2, pp. 21-32, 2018.

AE Ezeoha, "Corporate-Size and Corporate Financial Leverage Choice In A Developing Economy Evidence from Nigeria," J. Risk financ., Vol. 9, no. 4, pp. 351-364, 2008.

F. Syahadatina, "The Effect of Size and Structure of Capital Against Corporate Value The Mediated By Leverage," Science and Ris. management,vol. 4, no. 8, pp. 1-15, 2015.

EF Brigham and JF Houston, Basics Of Financial Management Book 1 Essentials Of Financial Management ed 11, Four Salemba, Jakarta, in 2011.

Febriansyah Dharmawan, "Influence of Profitability Analysis, Size and Sales Growth to Value Company with capital structure as an intervening variable (Data Analysis Panel on Mining Company listed on the Stock Exchange 2010-2013)," Diponegoro University, 2015.

WW Astuti, "Influence of Profitability, Size And Sales Growth Against Values Company With Capital Structure intervening variable (Study at Manufacturing Companies Listed in Indonesia Stock Exchange)," University of Muhammadiyah Yogyakarta, 2017.