Abstract
The purpose of this study is to analyze and prove the effect of Investment Decision, Capital Decision, Industry Performance, Macro Economic As Antecedent Variables of Financial Risk Management And Financial Distress To Value Of The Firm With GCG As Moderating Variables. The population of this study is manufacturing companies listed on the BEI from 2014 to 2016 . Using the method of purposive sampling it was found 40 manufacturing companies as research samples. The result of this research shows that Investment Decision, Capital Decision , Industry Performance , Macro Economic, Financial Distress and GCG have significant influence to the company value of the firm , but Financial Risk Management has no significant influence to company value of the firm . GCG moderates significantly the influence of Financial Distress and Financial Risk Management on Value of the firm
Highlights
Manufacturing industry sector is one of the important sector in national economic development
The picture shows there are twelve indicators of research variables that have a loading factor smaller than 0.50. They are the ratio of PPE / BVA, CAP / MVA, MVA / BVA, MVE / BE as the indicator of the variable of Decision Investment, DER and MDE as the indicator variable of Capital Decision, Debt Ratio, Inventory Turnover, Total Asset Turnover, Fixed Asset Turnover as the indicator of Industry Performance variable, Inflation as the indicator of Macro Economic variable and PER as the Value of the Firm indicator
Investment decisions have a significant effect on the financial risk management of manufacturing companies . 2
Summary
Manufacturing industry sector is one of the important sector in national economic development. Based on data onto the Central Bureau of Statistics (BPS ) (Feb , 2017 ) in Indonesia the number of opened or unemployed workers reached 7.01 million people. This shows that there are still many workers that have no job to meet a decent life. Data onto the Central Bureau of Statistics (BPS ) of 2015 shows that the average growth of the manufacturing industry have decreased significantly , in the period of 2011-2014 the average growth was 5.3 while in 2015 , It dropped to 3.9 (CPM , 2015 )
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