Effect Of Investment Opportunity Set Research Articles

The Effect of Investment Opportunity Set, Funding Decisions and Dividend Policy on Firm Value

The impact of the Dividend Policy, Financing Decisions, and Investment Opportunity Set on Firm Value are investigated in this study. A quantitative strategy is used, with purposive sampling combined with secondary data analysis to choose the sample according to predetermined standards. The results show that the best model for this analysis is the Random Effect Model (REM). The findings also show that Firm Value is impacted by the Investment Opportunity Set, Financing Decisions, and Dividend Policy taken together. Moreover, Firm Value is influenced by the Investment Opportunity Set and Financing Decisions separately; Dividend Policy has no discernible impact.

Faktor yang Mempengaruhi Nilai Perusahaan dengan Moderasi Ukuran Perusahaan pada Sektor Healthcare di Bursa Efek Indonesia

Company value is used to assess the importance of a company from the point of view of various parties, such as investors who are concerned with the valuation of a company through its share price. The high value of the company shows that the company is in a prosperous condition. The purpose of this research is to prove the overall effect of investment opportunity set, capital structure, and tax planning on company value with company size as a moderating variable in healthcare sector companies recorded on the Indonesia Stock Exchange for 2019-2023. The sampling technique in this research uses a purposive sampling technique and uses the Moderated Regression Analysis (MRA) method. The test results show that investment opportunity sets and tax planning have a significant positive contribution to firm value, capital structure has no contribution to firm value. Company size cannot moderate investment opportunity set and capital structure on company value, company size can moderate tax planning to increase company value in healthcare sector companies on the Indonesia Stock Exchange 2019-2023.

PENGARUH SET KESEMPATAN INVESTASI, ARUS KAS BEBAS, KEPEMILIKAN INSTITUSIONAL, DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN

This study aims to analyze the effect of investment opportunity set, free cash flow, institutional ownership, and capital structure on firm value. The research method used is associative quantitative with purposive sampling data collection techniques. The population of this study is the JII70 indexed companies between 2020-2022. After curating, there were 35 companies that met the criteria with a total of 105 samples. The analysis tool used is Eviews. The results showed that the investment opportunity set had no significant effect on firm value, while free cash flow, institutional ownership, and capital structure had a positive and significant effect on firm value

THE EFFECT OF INVESTMENT OPPORTUNITY SET (IOS), EARNINGS PERSISTENCE, AND FIRM SIZE ON EARNINGS QUALITY WITH INFORMATION ASYMMETRY AS A MODERATING VARIABLE

This study examines the effect of investment opportunity set (IOS), earnings persistence, and firm size on earnings quality with information asymmetry as a moderating variable. The primary impetus for this study was the number of instances of financial statement manipulation, which indicated that the firm's earnings quality was low and earnings information was subject to change. In 2020-2022, the sample consisted of as many as 15 infrastructure firms listed on the IDX, selected using purposive sampling. This study employed multiple linear regression analysis, and moderated regression techniques to analyze the data. The results of this study showed that earnings quality was unaffected by the investment opportunity set (IOS) and earnings persistence. Meanwhile, the firm size did affect the earnings quality. According to the results of moderated regression analysis (MRA), information asymmetry did not reduce the effect of investment opportunity set (IOS), earnings persistence, and firm size on earnings quality.

Pengaruh Investment Opportunity Set (IOS), Likuiditas, dan Efisiensi terhadap Kualitas Laba: Studi Empiris pada Perusahaan Subsektor Perbankan yang Terdaftar di Bursa Efek Indonesia 2018-2021

This study aims to examine the effect of Investment Opportunity Set (IOS), liquidity, and efficiency on earnings quality. The data used is secondary data in the form of an annual report of commercial banks listed on the Indonesia Stock Exchange for 4 years of observation, from 2018 to 2021. The sample was determined by purposive sampling technique and then resulted in 42 companies as the sample. This research used multiple linear regression analysis models. These models were analyzed using EViews 12. The results of this study showed that investment opportunity set, liquidity, and efficiency have no effect on earnings quality.

The Effect Of Investment Opportunity Set, Firm Age, Liquidity, And Financial Leverage On Profit Quality In LQ45 Companies In 2018 – 2022

The Effect Of Investment Opportunity Set, Firm Age, Liquidity, And Financial Leverage On Profit Quality In LQ45 Companies In 2018 – 2022

Firm Size Sebagai Salah Satu Penentu Firm Performance

This article examines the contribution of firm size as a determinant of firm performance. The novelty of the research is to develop a new model related to the determinants of firm performance, especially the firm size variable. Another novelty in this study is that it is more comprehensive in seeing the effect of investment opportunity set, capital structure, and dividend policy on company performance and dividend policy, as well as company size as a moderating variable. The number of samples is 26 companies with a period of 5 years, 2018-2022. Research hypothesis testing using Structural Equation Model (SEM) based on Partial Least Square (PLS). The results showed that investment opportunity set has a significant effect on dividend policy, capital structure has a significant effect on dividend policy, investment opportunity set has no significant effect on company performance, capital structure has no significant effect on company performance, dividend policy has a significant effect on dividend policy. Dividend policy has a significant effect on firm performance, firm size significantly moderates the effect of investment opportunity set on dividend policy, firm size does not significantly moderate the effect of capital structure on dividend policy, investment opportunity set has a significant effect on firm performance through dividend policy, capital structure has a significant effect on firm performance through dividend policy. Keywords: Investment Opportunity Set, Company Size, Dividend Policy, Company Performance

Pengaruh Investment Opportunity Set, Operating Cash Flow, dan Solvency terhadap Financial Distress Dimoderasi Kepemilikan Manajerial

Financial distress is a situation where a company faces serious financial problems that can threaten the continuity and stability of the company. This can affect the company's reputation, credibility and public trust, and even lead to bankruptcy. Therefore, effective management, prudent financial planning, and monitoring the state of the company are very important to prevent or overcome financial distress. The purpose of this study is to determine and analyse the theory that explains the effect of investment opportunity set, operating cash flow, and solvency on financial distress moderated by managerial ownership. This study uses qualitative descriptive method for literature research. The results of this study indicate that the variables of investment opportunity set, operating cash flow, and solvency affect financial distress. Managerial ownership is able to moderate the investment opportunity set, operating cash flow, and solvency on financial distress.

Determinants of earnings quality: The role of managerial ownership

This research analyzes and determines the effect of investment opportunity set, earnings persistence, and capital structure on earnings quality by making managerial ownership a moderating variable. This research is classified as a type of quantitative research with panel data obtained from secondary financial report data that has been published through Indonesian Stock Exchange website. Furthermore, the research sample was filtered using purposive sampling technique with several predetermined criteria to obtain 30 manufacturing companies registered at ISSI for 2019-2021 that met the criteria with a 3-year observation span. So, the total sample used was 90. Data analysis in this study used Moderated Regression Analysis. After testing with the Eviews 9 tools, the results show that the IOS variable has a positive and significant effect on earnings quality, earnings persistence has a negative but significant effect, while earnings persistence has no effect on earnings quality. Managerial ownership can only moderate the IOS’ relationship to earnings quality, however earnings persistence and capital structure variables cannot be moderated by managerial ownership in influencing earnings quality

Determinants of Company Value with Asset Revaluation as an Intervening

The study aims to determine the effect of Investment Opportunity Set, Liquidity, and Company Size both directly and indirectly on Company Value in companies that revalued assets listed on the Indonesia Stock Exchange in the 2016-2019 period. The research method used is a hypothesis testing method with a quantitative approach. The statistical test used is multiple linear regression with the use of partialsignificance test for hypothesis testing. The number of samples studied was 136 using panel data. The results showed that the direct effect of investment opportunity set and liquiditypartially had no effect on firm value, but firm size partially had an effect on firm value. While the indirect effect of investment opportunity set, and company size partially affect the value of the company. Liquidity partially has no effect on firm value through revaluation of fixed assets as an intervening variable.

The Effect of Investment Opportunity Set (IOS), Earnings Persistence and Accounting Conservatism on Earnings Quality with Voluntary Disclosure as an Intervening Variable

The main problem of this research is earnings quality. Earnings quality is very important for investors and is the center of attention for users of financial statements, because it will help them reduce information risk. Investors will tend to calculate information risk by conducting analysis so that it does not contain a large risk of loss. Investors can know that there is a poor allocation of resources in companies with low earnings quality. The purpose of this study is to determine the effect of investment opportunity set, earnings persistence and accounting conservatism on earnings quality in food and beverage companies listed in ISSI in 2018-2021 with voluntary disclosure as an intervening variable. This research is classified as a quantitative research with a population of 25 food and beverage companies registered at ISSI. The research sample was determined by purposive method with certain criteria so that the sample used was 18 companies. so that 72 data were obtained from the sample in the 2018-2021 observation period. the type of data used is secondary data. to test the intervening variables used path analysis method. The research results show that the investment opportunity set, earnings persistence and accounting conservatism and voluntary disclosure have a negative effect on earnings quality. the variables ios and conservatism have a negative and significant effect on earnings quality, while the earnings persistence variable has a positive effect on quality. The results of this study also indicate that voluntary disclosure is only able to mediate accounting conservatism on earnings quality.

Pengaruh Investment Opportunity Set, Cash Conversion Cycle Dan Corporate Governance Structure Terhadap Cash Holding

This study aims to determine the effect of investment opportunity set, cash conversion cycle and corporate governance structure towards cash holdings.The population of the company used in this study is manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. The research technique used purposive sampling which produced 30 company samples. The analysis techniques used in this research are descriptive analysis, associative analysis, classic assumption test, normality test, autocorrelation test, multicollinearity test, heteroscedacity test, hypothesis test, descriptive analysis, associative analysis, analysis analysis, regression analysis, and determination determination. The investment opportunity set, the cash conversion cycle and the corporate governance structure partially have a significant effect on cash ownership in Manufacturing companies listed on the Indonesia Stock Exchange for the period of 2016-2018.

Accounting conservatism: Testing the effects of investment opportunity set and political cost

This study aims to examine the effect of investment opportunity set (IOS) and political cost (PC) on accounting conservatism in Indonesia. The population of this study is property and real estate companies listed on the IDX during the period 2011-2020. Using purposive sampling method which is based on certain considerations, it is obtained 20 companies with a total of 200 samples. This study uses Multiple Regression Analysis to examine the relationship between variables. The results of this study show that political cost has a significant effect on accounting conservatism. Meanwhile, the investment opportunity set has no effect on accounting conservatism. The results of this study are consistent with the political cost hypothesis as in the positive accounting theory that large companies tend to apply conservative accounting to reduce the amount of political costs they incur. The results of additional test on the enactment of PSAK 72 regarding income from contracts with customers in 2020 show that that there is no significant difference in accounting consevatism in property and real estate companies before and after the enactment of PSAK 72.

Factors Affecting Cash Holding (Empirical Study of Property and Real Estate Companies Listed on the Indonesia Stock Exchange for the 2017-2021 Period)

AbstractThe purpose of this study is to provide empirical evidence on the Effect of Investment Opportunity Set ̧ Cash Conversion Cycle, Asset Growth, Net Working Capital and Company Size on Cash Holding. The population in this study was 83 companies with sampling techniques used were the slovin method and quota sampling. The sample used in this study is a Property and Real Estate company that has complete financial statement data for 2017-2022. The sample used in this study was 205 financial statement data or 41 companies. The methods used in this study are descriptive method and verificative method. The data analysis technique in this study uses panel data regression analysis. The results of simultaneous tests show that the variables investment opportunity set ̧ cash conversion cycle, asset growth, net working capital and company size together affect Cash Holding. Based on the partial test results, the variables investment opportunity set ̧ cash conversion cycle, asset growth, net working capital and firm size partially have a significant positive effect on cash holding.Keywords: Cash holding, Investment Opportunity Set, Cash Conversion Cycle, Asset Growth, Net Working Capital, Firm Size

Investment Opportunity Set (IOS) In Mediating Company Advantage to Funding Policies in Lq45-Indexed Companies

This quantitative study aims to determine and analyze the effect of investment opportunity set (IOS) in mediating company advantage in the form of company size and profitability on funding policies in LQ45-indexed companies in 2019-2020. The population of this study is 54 companies. It involved 24 Samples selected using a purposive sampling technique. Data were collected from the documentation and data presentation using time series data. Data were analyzed using regression analysis, path analysis, and the Sobel test. The results showed that there is no effect of company size on funding policy and profitability has a negative effect on funding policy. Besides, IOS has a positive effect on funding policy and company size does not affect IOS. Profitability has a positive effect on IOS. IOS cannot mediate company size against funding policies. IOS can partially mediate profitability against funding policies. Companies use the opportunity to grow with the amount of debt to get more value with their investment. Companies positively respond to the extent of investment opportunities by turning their capital from internal and external companies for investment purposes.

PENGARUH INVESTMENT OPPORTUNITY SET, KEBIJAKAN UTANG, PERTUMBUHAN PERUSAHAAN DAN COLLATERALIZABLE ASSETS TERHADAP KEBIJAKAN DIVIDEN

This study aims to examine the effect of investment opportunity set, debt policy, company growth and collateralizable assets on dividend policy. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange (BEI) 2016-2019.The sampling technique used in this study was purposive sampling with a sample size of 30 manufacturing companies listed on the Indonesia Stock Exchange (BEI) 2016-2019. The data analysis used in this research is multiple linear regression analysis. The results of this study indicate that the investment opportunity set has a positive effect on dividend policy, while debt policy, company growth and collateralizable assets have a negative effect on dividend policy. While the simultaneous test results show that the investment opportunity set, debt policy, company growth and collateralisable assets together have a positive effect on dividend policy

Kebijakan Hutang Melalui Free Cash Flow, Kepemilikan Manajerial dan Kebijakan Deviden

This study aims to determine the relationship between the influence of Managerial Ownership, Dividend Policy and Investment Opportunity Set on debt policy with Free Cash Flow as a Moderating Variable in Manufacturing Companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2016-2020, totaling 195 companies. The sample of this research is 66 companies in 5 years, so the total data obtained is 330 using purposive sampling technique. The data in this study is secondary data in the form of annual data obtained from the official website of the Indonesia Stock Exchange, the official website of the company concerned. The data analysis method used in this research is descriptive statistical test, classical assumption test, panel data regression analysis and hypothesis testing using Eviews 9. The results show that a) Managerial Ownership has a positive and significant effect on debt policy, b) Dividend Policy has no effect on debt policy c) Investment Opportunity Set has no effect on debt policy d) Free cash flow is able to strengthen the influence of managerial ownership on debt policy e) Free cash flow is not able to strengthen the effect of dividend policy on debt policy. f) Free cash flow is not able to strengthen the effect of investment opportunity set on debt policy.

PENGARUH INVESTMENT OPPORTUNITY SET, LIKUIDITAS, DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR DI MASA PANDEMI COVID-19

The COVID-19 virus that has plagued Indonesia since the beginning of 2020 has had a negative impact on the economy, especially activities in the capital market. In essence, investors are interested in investing by buying company shares because of dividends and capital gains. The dividend policy is taken by the company based on the company's financial information. This study was conducted with the aim of knowing the effect of investment opportunity set, liquidity, and profitability on dividend policy in manufacturing companies listed on the Indonesia Stock Exchange during the COVID-19 pandemic period year of 2020-2021. The population of this study is all manufacturing companies listed on the Indonesia Stock Exchange for the period 2020-2021. The research sample was selected using purposive sampling mcethod. The number of samples in this study were 49 manufacturing companies. This study uses multiple linear regression analysis techniques. The results of this study indicate that the investment opportunity set has no effect on dividend policy, while liquidity and profitability have a significant negative effects on dividend policy.

INVESTMENT OPPORTUNITY SET AND CORPORATE SOCIAL RESPONSIBILITY ON COMPANY VALUE

The purpose of this study was to determine the effect of investment opportunity set and corporate social responsibility on firm value. This research is a type of secondary data quantitative research. The population used in this study is the infrastructure companies listed on the IDX. The sampling technique used was purposive sampling, in order to obtain 15 infrastructure companies over a 5-year period which were used as research samples. The data collection method is done by accessing the annual reports listed on the IDX and published by each infrastructure company on their respective websites. The data obtained is then processed with the help of SPSS 21 software. The results of this study indicate that the investment opportunity set affects firm value. Corporate social responsibility has no effect on firm value.

Determinants of Earnings Management Actions in Indonesian Banking Companies

Objective – This study aims to examine the influence of Investment Opportunity Set and Corporate Social Responsibility Disclosure through Profitability on Earnings Management. The companies examined are banking companies listed on the LQ45 Index of the Indonesia Stock Exchange (IDX). Methodology – This study used data sourced from annual financial reports of banking companies on the LQ45 Index of the Indonesia Stock Exchange for the 2016-2020 periods. This study used descriptive and verification analysis methods with path analysis and hypothesis testing. Investment Opportunity Set is measured by Market Value to Book Value of Assets, Corporate Social Responsibility Disclosure is measured by Global Reporting Initiative G4 indicators, Profitability is measured by Return on Assets, and Earnings Management is measured by Discretionary Accruals. Findings – The results indicate that Investment Opportunity Set and Corporate Social Responsibility Disclosure and Profitability have no effect on Earnings Management. This implies that Earnings Management actions in companies are more likely to be influenced by other variables which closely related to agency theory and hard to predict the determinants by using only several variables. Novelty - Based on the results of this study, Profitability as an intervening variable does not mediate the effect of Investment Opportunity Set and Corporate Social Responsibility on Earnings Management. This might happens because profitability is quite common for investors and users of financial statements in assessing the company's financial performance so that it is easier for users of financial statements to know the Earnings Management actions done by the company. Type of Paper: Empirical JEL Classification: G11, G20. Keywords: Bank; Investment Opportunity Set; Corporate Social Responsibility; Profitability; Earnings Management. Reference to this paper should be made as follows: Suryani, Arna. Ariayani. (2022). Determinants of Earnings Management Actions in Indonesian Banking Companies, J. Fin. Bank. Review, 7(1), 39 – 50. https://doi.org/10.35609/jfbr.2022.7.1(2)