PENGARUH KEPUTUSAN KEUANGAN, MODAL INTELEKTUAL, DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN
Abstract
This study aims to analize the effect of investment decisions, financing
decisions, dividend policy, intellectual capital and managerial ownership towards
company’s value. Investment decisions variable was measured by Tottal Assets
Growth (TAG). Financing decisions variable was measured by Debt to Equity
Ratio (DER). Dividend policy was measured by Dividend Payout Ratio.
Intellectual capital variable was measured by summing up the Human Capital
Efficiency (HCE), Structural Capital Efficiency (SCE) and Capital Employed
Efficiency (CEE). The last variable is managerial ownership was measured by
percentage of directress and commissioner stock ownership.
The sample used in this study was manufactur companies which listed in
Indonesian Stock Exchange from 2013-2017.The analysis technique used is Panel
Regression with Eviews 10 as the statistical tool. The result show, ivestment
decisions and financing decisions variable have negative and not significant,
while dividend policy, intellectual capital and managerial ownership variable
have positive effect on firm value.