Pengaruh Struktur Kepemilikan Terhadap Nilai Perusahaan Dengan Kebijakan Hutang Sebagai Variabel Intervening (Studi Pada Perusahaan Sektor Perdagangan, Jasa dan Investasi yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2009-2015)

Septiani Pratiwi, Gerry Ganika

Abstract


This research determines to prove that ownership structure influence to firm value, by using the debt decisions as a intervening variable. Sample use in this research are trading, services and investment company which listed on Indonesia Stock Exchange during 2009-2015, and purposive sampling method are use to determine he quantity of sample within consist of 175 sample. Analysis method that use was path analysis, sobel test and t-test. Path analysis and hyphothesis test shows that : 1) ownership structure has a negative and significant influence to the firm value, 2) ownership structure has a positive and non-significant influence to the debt decisions, 3) debt decisions has a negative and significant influence to the firm value, and 4) from the path analysis shows that debt decisions as intervening variables can’t mediate ownership structure to the firm value.


Keywords


Ownership structure, Debt decisions, Firm value

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DOI: http://dx.doi.org/10.35448/jmb.v9i2.4232

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