Research Paper
Year: 2020 | Month: June | Volume: 7 | Issue: 6 | Pages: 236-246
Firm Value Determinant of Plantation Companies in Indonesia Stock Exchange
Dienasari Rily Hanundyah1, Hakim Dedi Budiman2, Andati Trias1
1IPB University, School of Business, Jl Raya Pajajaran, Bogor, Indonesia
2IPB University, Faculty of Economics and Management, Jl. Raya Dramaga, Bogor, Indonesia
Corresponding Author: Dienasari Rily Hanundyah
ABSTRACT
The purpose of this study is to determine the effect of capital structure, intellectual capital, and internal factor towards firm value which is moderated by profitability. The research sample used 14 companies of agricultural sector plantation subsector listed on Indonesia Stock Exchange (IDX) period 2014 - 2018. The data analysis model were used to test the hypothesis of multiple linear regression models and moderated regression analysis (MRA). The method used in this research is panel data analysis using the E-Views 9.0 analysis tool. The result showed that capital structure and intellectual capital had a significant positive effect on firm value while firm size had a significant negative effect on firm value. In addition, profitability is able to moderate intellectual capital, firm size and growth sales towards firm value.
Keywords: Capital Structure, Firm Value, Intellectual Capital, Internal Factor, Moderated Regression
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