NILAI PERUSAHAAN: DAMPAK INTERAKSI ANTARA PROFITABILITAS DAN RISIKO FINANSIAL PADA PERUSAHAAN MANUFAKTUR

Meythi Meythi, Oktavianti Oktavianti, Riki Martusa

Abstract


This research was aimed to examine and find out the empirical evidence of the impact of the interaction betweenprofitability and financial risk on firm value. Samples used in this research were manufactured companieslisted in Indonesia Stock Exchange in 5 years observation period (2007-2012). The total samples were 31companies. Sample election was done by using the purposive sampling method. The result of moderatedregression analysis (MRA) showed that there was no interaction effect between profitability and financial riskon firm value. Thus, the hypothesis of the research was not empirically supported.

Keywords


financial risk, firm value, leverage, market to book ratio, net profit margin, profitability

References


Algifari. 1997. Analisis Regresi Teori, Kasus, dan Solusi. Edisi 1. Yogyakarta: BPFE.

Brigham, E.F. & Houston, J.F. 2009. Fundamentals of Financial Management. 6th Edition. South Western: Cengage Learning.

Fidhayatin, S.K. & Dewi, N.H.U. 2012. Analisis Nilai Perusahaan, Kinerja Perusahaan, dan Kesempatan Bertumbuh Perusahaan terhadap Return Saham pada Perusahaan Manufaktur yang Listing di BEI. The Indonesian Accounting Review, 2(2): 203-214.

Financial Accounting Standards Board (FASB). 1978. Statement of Financial Accounting Concepts No.1: Objectives of Financial Reporting by Business Enterprises. Connecticut: Stamford.

Ghozali, I. 2011. Aplikasi Analisis Multivariate dengan Program SPSS. Semarang: Badan Penerbit Universitas Diponegoro.

Gujarati, D.N. 2003. Basic Econometrics. 4th Edition. McGraw-Hill International Edition: Economics Series.

Hermuningsih, S. & Wardani, D.K. 2009. Faktor-Faktor yang Memengaruhi Nilai Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Malaysia dan Bursa Efek Indonesia. Jurnal Siasat Bisnis, 13(2): 173-183.

Ikbal, M., Sutrisno, & Djamhuri, A. 2011. Pengaruh Profitabilitas dan Kepemilikan Insider terhadap Nilai Perusahaan dengan Kebijakan Utang dan Kebijakan Dividen Sebagai Variabel Intervening (Studi pada Perusahaan Manufaktur di Bursa Efek Indonesia). Prosiding. Simposium Nasional Akuntansi XIV.

Jensen, M. & Meckling, W.H. 1976. Theory of the Firm: Managerial Behavior, Agency Cost, and Ownership Structure. Journal of Financial Economics, 3(4): 305 360.

Karaca, S.A.S. & Savsar, A. 2012. The Effect of Financial Ratios on the Firm Value: Evidence from Turkey. Journal of Applied Economic Sciences, 7(1): 56-63.

Meythi. 2005. Konflik Keagenan: Tinjauan Teoritis dan Cara Menguranginya. Jurnal Ilmiah Akuntansi, 5(2): 1-17.

Santoso, S. 2000. Buku Latihan SPSS Statistik Parametrik. Jakarta: PT. Elex Media Komputindo Kelompok Gramedia.

Soliha, E. & Taswan. 2002. Pengaruh Kebijakan Utang terhadap Nilai Perusahaan serta Beberapa Faktor yang Memengaruhinya. Jurnal Bisnis dan Ekonomi, 9(2): 149-163.

Weygandt, J.J., Kimmel, P.D. & Kieso, D.E. 2011. Accounting Principles. 10th Edition. Singapore: John Wiley & Sons Inc.


Full Text: pdf

Refbacks

  • There are currently no refbacks.





WhatsApp Image 2019-06-12 at 16.37.31WhatsApp Image 2020-01-06 at 15.29.25.jpeg


Journal of Finance and Banking

Diploma Program of Banking and Finance
Faculty of Economics and Business University of Merdeka Malang

Mailing Address:

2nd-floor Banking and  Finance Building, Terusan Raya Dieng Street No.57 Malang, 65146, East Java, Indonesia
Phone/WhatsApp: +628123321664; Fax. +62 341 580511
Email: jkpunmermlg@yahoo.com


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.