Value Of Company Research Articles

PENGARUH UKURAN, PERTUMBUHAN, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN VARIABEL INTERVENING HARGA SAHAM

This research aims to test and analyze the influence of size, growth and leverage on company value with the intervening variable stock price. The population in this research are food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange 2020-2022. Meanwhile, the sample in this study was 22 companies selected using the purposive sampling method. This research uses a quantitative research type and approach. The data collection method used in this research is secondary data obtained from the Indonesia Stock Exchange website, namely in the form of annual financial reports. The data analysis method used in this research is Descriptive Statistical Analysis, and Inferential Statistical Analysis. Data analysis was carried out using statistics with the SmartPLS version 4.0 tool. Based on the results of data analysis using hypothesis testing, it shows that company size and company growth have a significant effect on share prices, while leverage has no significant effect on share prices. Company size, leverage, and share price have a significant effect on company value, while company growth does not have a significant effect on company value. Company size and company growth have a significant effect on company value through share prices, while leverage does not have a significant effect on company value through share prices.

Capital Structure and Enterprise Market Value: An Empirical Analysis Based on S&P 500 Companies

Abstract: This study explores the impact of capital structure on enterprise market value, specifically examining the influence of the debt ratio on the market valuation of S&P 500 companies. Capital structure decisions are crucial for corporate managers and investors, as they significantly affect firm performance, risk, and market perception. The research is motivated by the need to understand how financial leverage influences market valuation, particularly in large, publicly traded companies. Utilizing two-way fixed effect panel data models spanning from 2020 to 2023, we find significant evidence that higher leverage is associated with an increase in market valuation, offering a comprehensive view of the factors that influence corporate market values. Additionally, the study reveals that the impact of leverage varies across company sizes and examines sector-specific effects and the role of long-term debt. The findings provide key insights for investors and corporate managers regarding the impact of financial structure on company valuation, emphasizing the importance of optimizing capital structure to enhance firm value and strategic decision-making.

Profit Quality, Islamic Corporate Social Responsibility And Company Values: Islamic Corporate Governance As Moderation

This study aims to analyze the effect of profit quality and Islamic corporate social responsibility (ICSR) on firm value moderated by Islamic corporate governance (ICG). This study uses a quantitative approach. The population used is all Islamic Commercial Banks (ICB) registered with the Financial Services Authority (FSA) in 2018-2023. The sampling technique used purposive sampling and obtained 11 ICB samples. The data source used is secondary data in the form of documentation of each BUS's financial statements. This study uses multiple linear regression analysis techniques. The results of this study indicate that profit quality negatively affects firm value. ICSR positively affects firm value. ICG is unable to moderate the relationship between profit quality and firm value. ICG is unable to moderate the relationship between ICSR and firm value. This study can complement existing theories and be a reference for future research. This study can also be a reference for ICB in increasing ICB value, especially regarding profit quality and ICSR.

The Influence of Return on Asset, Debt to Total Asset Ratio, and Economic Value Added, on Company Value with Dividends as a Moderating Variable in Industrial Sector Companies

The purpose of this study is to determine the Effect of Return On Assets, Debt To Total Assets Ratio, and Economic Value Added on Company Value with Dividend Policy as a Moderating Variable in Industrial Sector Companies. The sampling technique in this study is purposive sampling. So that the number of samples obtained is 54 companies. The tests used are Normality Test, Multicollinearity Test, Heteroscedasticity Test, Autocorrelation Test, Interaction Test / MRA. The correlation coefficient value is 0.177, meaning that between ROA, DAR, EVA and Dividend Policy on company value, the relationship is low. The determination coefficient value (R²) or R square obtained is 0.031, indicating that 3.1% of the influence on company value is explained by the variables ROA, DAR, EVA and Dividend Policy. While the remaining 96.6% is influenced by other variables not examined in this study.

Intellectual Capital: Revisiting an Analytical Model

The world’s economy is experiencing important changes brought on by diverse factors, namely technological advancements, the appearance and diffusion of personal computers, high-speed telecommunications, and the Internet. These technological changes have influenced the corporate environment, with recent decades denominated as the information economy, the digital economy, the economy of knowledge, a risk society, and the age of quality and innovation. To designate the key concept of the new economic era as “intellectual capital” implies a classification and evaluation effort in order to proceed with its generalization. In today’s world, the study of a model capable of adding explanatory diversity to intellectual capital is very relevant. We observed a true panoply of concepts in the analyzed models based on a literature review. The conceptual evolution during recent decades has motivated many investigations in this field, resulting from the phenomenon of globalization, growing technological innovation, and the observation of significant disparities between the market value and the accounting value of companies. This article describes an investigation carried out, presenting an explicative model of intellectual capital based on four distinct patterns, which are the aggregating factors of the existing conceptual diversity. We present the identification of a model with two axes, x (the type of knowledge, from tacit to explicit) and y (the capital of knowledge, from human to structural), which represents the conceptual diversity mirrored in four quadrants resulting from the research carried out with an initial exploratory study and two following studies with 45 and 72 specialists. In this article we analyze the Martins model, which proves to be essential for systematizing and mapping the dimensions that intellectual capital includes. This model can be used to identify the different aspects of intellectual capital in an organization and thus contribute to its understanding, optimization and good management.

The Impact of the Corona virus and trade credit on the profitability and value of companies

This study aimed to identify the impact of the Corona virus and commercial credit risks on the profitability and value of companies. The problem of the study was the presence of real risks that threaten the profitability of companies resulting from commercial credit risks and the Corona crisis. The study adopted the descriptive analytical approach, and the study population represents commercial companies in the Kingdom of Saudi Arabia. Saudi Arabia, and the study concluded with a set of results, the most important of which are: the presence of a significant impact of commercial credit risks on the profitability and value of companies, the existence of a statistically significant relationship between commercial credit risks and corporate profitability, and the study proved the existence of a negative correlation between credit risk and the Corona crisis as an independent variable and between companies’ profitability as a variable. continued. The study recommended that companies should review the mechanisms and procedures taken to confront the risks of commercial credit on the profitability of companies, and review the mechanisms and procedures taken to confront the risks of the Corona crisis on the profitability and value of companies.

The Effect of Managerial Ownership and Institutional Ownership on Company Value in Mining Companies Listed on the Indonesia Stock Exchange

This study aims to examine the influence of managerial ownership and institutional ownership on company value as an intervening variable in mining companies listed on the Indonesia Stock Exchange. The data used is secondary data obtained from the annual reports of mining companies listed on the Indonesia Stock Exchange for the 2019-2022 period. The analysis method used is multiple linear regression with the help of SPSS software. The results of the study show that managerial ownership has a significant positive effect on the company's value. Likewise, institutional ownership has a significant positive effect on the value of the company. As an intervening variable, it has also been proven to affect the relationship between managerial ownership, institutional ownership, and company value. The Adjusted R Square in this study is 0.309, which means that 30.9% of the variation in the value of the company can be explained by the variables of managerial ownership and institutional ownership, while the remaining 69.1% is explained by other factors that were not studied in this study.

The Influence Of Good Corporate Governance On Firm Value With Financial Performance As A Moderation

The aim of this research is to determine the effect of good corporate governance on firm value in food and beverage companies on the Indonesia Stock Exchange with financial performance as a moderating variable. This research is quantitative research. The number of companies in the food and beverages subsector consists of 30 (thirty) companies. The sample in this research consisted of 13 companies over 5 years. Data collection is carried out through financial reports. This research data was analyzed using a moderation test. The findings of this research indicate that 1) There is an influence of financial performance on firm value. 2) There is an influence of Independent Commissioners on firm value. 3) There is an influence of Independent Directors on firm value. 4) There is an influence of Independent Audit on firm value. 5) There is a moderating influence of the Independent Commissioner's financial performance on firm value. 6) There is a moderating influence of independent directors' financial performance on firm value. 7) There is a moderating influence of financial performance on Independent Audit on firm value in Food and Beverage Companies on the Indonesian Stock Exchange.

GOVERNANÇA CORPORATIVA PARA A GESTÃO FINANCEIRA

The objective of this work is to highlight the importance of corporate governance for the financial management of business organizations. In this sense, a bibliographic research methodology was chosen. Corporate governance fosters the credibility of organizations by providing financial information that determines the decision-making processes of internal and external stakeholders. In this case, the financial manager who practices governance must demonstrate characteristics and competencies focused on ethics and transparency so that the organization's financial performance is achieved through a systemic vision correlated with the internal and external sectors of the companies, permeated by both good governance practices and the increase of investment capital. Thus, corporate governance plays an important role in contributing to organizations by minimizing risks, reducing indebtedness, and increasing the market value of companies that implement it, as it is seen as a factor of respect for those who invest their capital in a business aiming for the profitability of their investment.

Peran Struktur Modal dan Profitabilitas dalam Meningkatkan Nilai Perusahaan Sektor Perkebunan Indonesia

This study aims to examine and analyze the influence of capital structure and profitability on the value of companies in the plantation sector. Using a quantitative approach, a sample of 15 agricultural sector companies was selected through purposive sampling. The data analysis method employed multiple. linear regression using secondary data from the companies' financial reports. The testing results using SPSS 27 revealed that, partially, the capital. structure, as proxied by the Debt. to Equity Ratio (DER), does not have an effect on the value of the company. Profitability does influence the value of the company. Both capital structure and. profitability simultaneously affect the value of the company. The R² coefficient test result was 0.612, indicating that 61.2% of the independent. variables' ability to explain the dependent. variable is quite significant.

The Effect Of Audit Committee, Firm Value, Sales Growth And Firm Size On Tax Avoidance With Corporate Transparency As A Moderating Variable

This study is a development of research entitled The Effect of Company Size, Company Value, Sales Growht on Tax Avoidance with Corporate Transparency as a Moderating Variable. It tests the food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the period 2016 to 2021. Whereas in this study I will test the manufacturing sub-sector using the 2019 - 2022 financial report period. This study uses descriptive statistical analysis to describe data from 2012-2022, the objectives of this study are: To determine empirically the effect of the Audit Committee on tax avoidance, to determine empirically the effect of Company Value on tax avoidance, to determine empirically the effect of Sales Growth on tax avoidance, to determine empirically the effect of Firm Size on tax avoidance, to test the moderating effect of Corporate Transparency in the effect of the Audit Committee on tax avoidance, to test the moderating effect of Corporate Transparency in the effect of Company Value on tax avoidance, to test the moderating effect of Corporate Transparency in the effect of Sales Growth on tax avoidance, to test the moderating effect of Corporate Transparency in the effect of Firm Size on tax avoidance.

The Effect of Leverage on Company Value with Dividend Policy as a Mediating Variable and Business Risk as a Moderating Variable

This study aims to find out the effect of leverage on company value mediated by dividend policy and moderated by business risk in infrastructure sector companies listed on the IDX in the period 2017 – 2022. The research uses a quantitative method using secondary data from the financial statements of each company, both obtained through the IDX website and the official website of each company. Sampling uses a non-probability method on companies listed in the infrastructure sector listed on the IDX in 2017-2022. The research data is panel data analyzed using SPSS and Hayes Process with analysis stages, namely descriptive statistics to conditional process analysis. The results of the hypothesis test show that leverage has a negative and significant effect on the company's value, Dividend Policy has a positive and significant effect on the company's value, Leverage has no effect on the dividend policy, Dividend policy is unable to mediate the influence of leverage with the company's value, Business Risk is unable to moderate the influence of leverage with the dividend policy and Business Risk is able to moderate the influence of leverage with the company's value.

How the Macroeconomic and Financial Structure Affects the Firm Value of a Large Telecommunication Company in Indonesia

TELKOM's strategic initiative, referred to as 5BM, acknowledges the company's considerable assets but notes that it has not yielded substantial profits. To address this, TELKOM has devised this strategy to improve its firm value. This study seeks to contribute to this goal by conducting research focused on analyzing the company's financial structure and evaluating the effects of financial structure, considering macroeconomic factors like interest rates, to enhance its overall value. The research employs a quantitative approach, using TELKOM’s financial data from 2014 to 2024, with variables such as firm size, liquidity ratio, leverage ratio, investment opportunity, efficiency level, profitability, and interest rates. The study applies multiple linear regression to assess the relationships between these independent variables and firm value, using Tobin’s Q as a measure of firm value. Descriptive statistical analysis is also conducted to summarize the characteristics of each research variable. Findings reveal that leverage negatively affects firm value, while firm size, liquidity, investment opportunity, efficiency level, and profitability have positive impacts. Although interest rates and dividend policy also contribute to firm value, their effects are not statistically significant. These results provide insights into the importance of TELKOM's financial structure in enhancing its market valuation

The value relevance of deferred tax assets: An empirical analysis of German HDAX-listed companies

Deferred taxes emerge from timing differences in recognizing income and expenses between commercial and tax financial statements. However, the capitalization of deferred tax assets remains contentious, with questions raised about their value relevance to investors. This study aims to investigate the informational value and economic significance of deferred tax assets in financial statements prepared in accordance with both German commercial law (HGB) and International Financial Reporting Standards (IFRS). The analysis is based on financial data from 1,066 firm-year observations of HDAX-listed companies from 2000 to 2022. Using an Ordinary Least Squares (OLS) regression model, the study examines the relationship between deferred tax assets and the market value of equity. Key financial variables, including research and development expenses, deferred tax liabilities, net income, and the market-to-book ratio, are incorporated to provide a comprehensive assessment of deferred tax asset relevance in capital markets. The results demonstrate that deferred tax assets have a negligible impact on the market value of companies, with no statistically significant effect detected. Conversely, research and development costs, as well as net income, exhibit a strong positive influence on firm valuation. These findings suggest that deferred tax assets serve largely as an accounting mechanism, lacking informational value for investors.

The Influence Of Institutional Ownership And Profitability On Company Value With Dividend Policy As A Moderating Variable

This research aims to examine the influence of institutional ownership and profitability on company value by considering dividend policy as a moderating variable in banking companies on the Indonesia Stock Exchange for the 2017-2022 period. The research method used is path coefficient analysis to test the relationship between variables. Data was obtained from annual reports of banking companies registered on the IDX. The research results show that there is a positive and significant influence between the profitability variable on company value with a significance value of 0.006 (<0.05) while the institutional ownership variable does not have a positive and insignificant influence with a significance value of 0.309 (>0.05). Apart from that, dividend policy as a moderating variable is able to influence the relationship between profitability and company value with a significance value of 0.000 (<0.05), while dividend policy is not able to influence the relationship between institutional ownership and company value. Thus, the conclusion of this research is that institutional ownership has no effect on company value with or without considering dividend policy, while profitability has a direct and significant influence on company value with or without considering dividend policy. Therefore, company management needs to pay attention to these factors in managing company policies and investments to increase long-term company value.

The Role of Financial Performance, Audit Quality, and Corporate Social Responsibility on Firm Value Through Cost of Capital as Mediation

This study analyzes and determines the impact of financial performance, audit quality, corporate social responsibility (CSR) on firm value through cost of capital as mediation. This type of quantitative research uses an explanatory approach and causality of as many as 565 samples for 5 years in the ASEAN banking industry. The results of this study show that financial performance, audit quality, and CSR affect the company value . Banks with good financial performance, quality audits, and good CSR distribution will be able to improve the company’s image. For this reason, banking companies must improve financial performance, audit quality, and properly carry out responsibilities. Cost of capital becomes a mediating variable that strengthens the relationship of financial performance, audit quality, and CSR to company value. For banks when their financial performance is good, checks are carried out with good audit quality, channeling social responsibility well will be a trigger for increasing company value and will indirectly reduce capital costs that must be incurred by the company. Keywords: financial performance, audit quality, CSR, firm value, cost of capital

Does a business education make for better innovative managers? An empirical examination of CEOs’ business education, CEO duality and R&D investment intensity

This study aims to explore how chief executive officers (CEOs) business education influences their company's investment in Research and Development (R&D) taking into account the moderating impact of CEO duality. Risks related to investment in research and development might have an impact on CEOs who are responsible for improving management effectiveness and company value. Insufficient education among executives can hinder effective oversight. Findings from analyzing data from 1632 firm-year observations from 2015 to 2020 of companies listed on the Shanghai and Shenzhen Stock Exchanges reveal that CEOs with dual roles tend to prioritize R&D investments and innovation. Additionally, CEOs without a Master of Business Administration (MBA) or executive MBA education (EMBA) exhibit a greater willingness to take risks leading to more innovation and spending on R&D. This research emphasizes the need to consider CEOs' demographics, board structures and governance mechanisms to promote innovation in companies.

The Influence of Enterprise Risk Management, Corporate Social Responsibility, Cost of Capital, and Firm Size on Firm Value

Implementing corporate social responsibility (CSR) and enterprise risk management (ERM) is becoming more important, since it is an indication of a long-term sustainable business. Investigating the effects of ERM, CSR, cost of capital (CoC), and company size on the value of manufacturing sector enterprises in Indonesia is the aim of this study. 56 manufacturing companies that are listed on the Indonesia Stock Exchange and that provide annual reports and detailed financial statements for the fiscal years 2016 through 2019 make up the study’s sample. Firm value is proxied by the Tobins’q (TQ) value. CoC is determined using WACC, CSR is evaluated using each company’s disclosure index, and the firm’s size is indicated by LnTotal Assets. The data in Eviews 12 was analyzed using panel data regression. The study results show that CSR and ERM are essential to raising a company’s worth. The company value increases with the degree of ERM and CSR adoption. The study also found a significant negative correlation between company size and worth. However, this study is unable to show how capital expenses affect the value of a company. Keywords: CSR, cost of capital, enterprise risk management, firm size, firm value

Will The Firm Value Increase As A Result Of Disclosing Carbon Emissions?

The purpose of this study is to investigate and gather empirical data supporting the hypothesis that a company's value that discloses its carbon emissions is connected with its exposure to the media. This makes sense when considering the media's contributions to social mobilization campaigns like those of US environmental organizations. The public's access to information is greatly aided by the media. This study focused on manufacturing companies listed in the Consumer Goods Sub-Sector of the Indonesia Stock Exchange, using data from 2017 to 2021. Data from www.idx.co.id were used in this study, which ran from May 2023 to October 2023. The critical Descriptive analysis with the structural equation model statistical technique is the approach taken. For data analysis, the SmartPLS 3 application was utilized. Three factors were employed in this investigation. The variables that are used as moderators in the model are media exposure (Z), carbon emissions (X), and firm value (Y), which employs Tobin's Q table US as the dependent variable. In this examination, specifics of the variables employed by the researchers will be covered. Media exposure to carbon emissions has little effect on business value, despite the fact that the distribution of carbon emissions demonstrates a positive and substantial impact on firm value.

Echoes of Speculation Underway in Relations Between the Occident and China

In a previous article I talked about speculative waves in sequence that have hit the global economy since the 2000s in a world struggling with deflation. Well, this wave of speculation has not stopped but today it seems to concern the transfer of industrial plants from the West to China. A process that was born with the good intentions of transferring industrial activities to developing countries with the dual objective. Give a boost to the economy in developing areas and at the same time reduce the management costs of large multinationals' plants. A process therefore that was born with a positive sign in the intent to help a coordinated development of the territories and a reduction in the costs of industrial products. Meanwhile, the objective of coordinating the development of the territories and continents has not been achieved and on the contrary the process has led to an almost exclusive delocalization of industrial production from the West to China. The excess of industrial localization has exacerbated the concentration of unassimilable waste with a worsening of the disease of the planet struggling with atmospheric overheating. The process, therefore, has been slowed down but not stopped for natural reasons. On the other hand, the acceleration of the development of the Chinese economy has also marked a halt coinciding with the spread of the global epidemic. After about fifty years of accelerated economic growth, the Chinese community has sensed the change in the country's economic prospects and has pulled the brakes on both consumption and investments, marking the end of the accelerated race on the road to development. The picture of the speculative evolution of industrial delocalization processes sees together the interest of mega companies in reducing management costs which is congenial to the increase in the financial values of companies that increase on the Western stock exchanges. In other words, delocalization helps reduce management costs and at the same time seems to support ultra increasing financial values. In short, it plays into the hands of speculation which is certainly not the interest of global social and economic development which instead requires coordination of the territories on the road to development. With the further dilemma that the fate of the global economy may be in the hands of the Boards of Directors of mega companies and not of states and communities.​