MODEL PENCIPTAAN NILAI TAMBAH EKONOMIS DAN NILAI PERUSAHAAN

Abstract

This research test and macroeconomic analyze influence to the firms characteristic, capital structure, valuebasedmanagement and corporate value. This research conducted at the firms of SWA 100 value creatorsamong year 2002 - 2006 in Stock Exchange Indonesia (BEI). This research use analysis of Structural EquationModeling (SEM). Result of analysis use modeling equation structural (SEM) of indicating that there is influenceof macroeconomic significant to characteristic of the firms, macroeconomic have effect significant to valuebasedmanagement and macro economics have effect significant to corporate value. Characteristic of the firmshave effect significant to value based management and characteristic of the firms have effect significant tocorporate value. Capital structure have effect significant to value based management, capital structure haveeffect significant to value of the firms and Value-based Management have effect to corporate value. Whilemacro economics do not significant to macro economics, characteristic of the firms do not significant to capitalstructure, so also value-based management do not significant to corporate value.