PENGARUH STRUKTUR MODAL PERUSAHAAN TERHADAP NILAI PERUSAHAAN (Studi Pada Perusahaan Sub Sektor Tekstil Dan Garmen Yang Terdaftar Di Bursa Efek Indonesia Periode 2009-2013)

Authors

  • Rizkita Dwi Amanah

Abstract

The study investigated the influence of capital structure company on firm value of Sub Company Textile and Garment Sector Listed in Indonesia Stock Exchange Period 2009-2013. Capital structure company and corporate values become the concept the independent variables are Debt Ratio (DR), Debt to Equty Ratio (DER) and Longterm Debt to Equity Ratio (lder) and the dependent variable which is the Price to Book Value (PBV) and Tobin's Q. Types of this research is explanatory research with a quantitative approach. Data analysis was descriptive and inferential data analysis by taking into account the classical assumptions. The results of research shows there are significant influence  simultaneously between variables DR ,DER and LDER to PBV and there are significant influence  simultaneously between variables DR ,DER and LDER to Tobin’s Q. Partially, there are significant influence  between variables DER to PBV, while DER and LDER not significant. There are significant influence  between variables DR to Tobin's Q, while DR and LDER not significant. Keywords: Capital Structure, Firm Value, PBV, Tobin’s Q ABSTRAK Penelitian ini menguji pengaruh struktur modal perusahaan terhadap nilai perusahaan sub sektor tekstil dan garmen yang terdaftar di Bursa Efek Indonesia periode 2009-2013. Struktur modal perusahaan dan nilai perusahan menjadi konsep dan variabel bebas Debt Ratio (DR), Debt to Equty Ratio (DER), dan Longterm Debt to Equity Ratio (LDER) serta variabel terikat yaitu Price to Book Value (PBV) dan Tobin’s Q. Jenis penelitian Explanatory Research dengan pendekatan kuantitatif. Analisis data dengan uji asumsi klasik dan regresi linier berganda. Hasil penelitian menunjukkan terdapat pengaruh signifikan secara bersama-sama antara variabel DR, DER dan LDER terhadap PBV dan terdapat pengaruh signifikan secara bersama-sama antara variabel DR, DER dan LDER terhadap nilai Tobin’s Q. Secara sendiri terdapat pengaruh signifikan variabel DER terhadap PBV, sedangkan DR dan LDER tidak berpengaruh signifikan. Secara sendiri terdapat pengaruh signifikan variabel DR terhadap Tobin’s Q, sedangkan DER dan LDER tidak berpengaruh signifikan. Kata Kunci : Struktur Modal, Nilai Perusahaan, PBV, Tobin’s Q

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Published

2015-05-29

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