STRUKTUR KEPEMILIKAN DAN NILAI P STRUKTUR KEPEMILIKAN DAN NILAI PERUSAHAAN MANUFAKTUR INDUSTRI DASAR DAN KIMIA YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2015-2019

OWNERSHIP STRUCTURE AND VALUE OF BASIC AND CHEMICAL INDUSTRY MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE 2015-2019 PERIOD

  • Mira Nurhikmat Universitas Faletehan

Abstract

ABSTRACT

 

This study was conducted to determine the effect of ownership structure on firm value with profitability as intervening variable. The research was conducted on 15 manufacturing companies of Basic and Chemical Industry which listed on BEI year 2015-2019. Data analysis used  intervening regression with mediation test used sobel test. The results showed that managerial ownership had a negative and significant effect on firm value. Institutional ownership has no effect on firm value. Managerial ownership has a negative and significant effect on profitability. Institutional ownership has a negative and significant effect on profitability. Profitability has no effect on firm value. The results of the mediation test show that profitability can weaken the negative relationship of managerial ownership of firm value, while the instutitional ownership does not occur mediation.

 

Keywords: Agency Theory, Managerial Ownership, Institutional Ownership, Profitability, and Corporate Value.

Published
2020-08-31