Pengaruh Struktur Modal dan Cash Holdings terhadap Nilai Perusahaan pada Perusahaan yang terdaftar di Bursa Efek Indonesia

Destryanti, Dely (2019) Pengaruh Struktur Modal dan Cash Holdings terhadap Nilai Perusahaan pada Perusahaan yang terdaftar di Bursa Efek Indonesia. Undergraduate thesis, Universitas Internasional Batam.

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Abstract

Penelitian ini membahas tentang dampak struktur modal beserta cash holdings pada nilai perusahaan. Objeknya yakni perusahaan yang terdaftar di BEI atau Bursa Efek Indonesia pada tahun 2013 hingga 2017. Untuk sampel data, menggunakan sebanyak 1.600 sampel data yang telah melewati pemilihan purposive sampling method. Dalam pengujian ini, terdapat dua model pengujian data. Model pertama diukur dengan struktur modal yang menggunakan dua variabel yaitu rasio hutang berjangka panjang dan rasio hutang berjangka pendek, nilai pasar ekuitas, capital expenditures, aktiva tetap, biaya penjualan, umum dan administrasi, laba operasional bersih dan rasio hasil dividen. Sedangkan model kedua diukur dengan rasio hutang berjangka panjang, rasio hutang berjangka pendek, cash holdings, capital expenditures, laba operasional bersih dan return on invested capital. Hasil model pertama menunjukkan bahwa rasio hutang jangka pendek, rasio hutang jangka panjang, aktiva tetap dan laba operasional bersih berakibat signifikan negatif pada cash holdings sedangkan nilai pasar ekuitas, capital expenditures dan rasio hasil dividen berdampak signifikan positif pada cash holdings dan terakhir adalah biaya penjualan, umum dan administrasi dimana hasil ujinya menyatakan bahwa variabel tersebut tidak berakibat signifikan pada cash holdings. Selain itu, hasil uji dari model kedua membuktikan bahwa cash holdings, capital expenditures, laba operasional bersih dan return on invested capital berpengaruh signifikan positif pada nilai perusahaan sedangkan rasio hutang jangka pendek berakibat signifikan negatif kepada nilai perusahaan serta untuk variabel rasio hutang jangka panjang dinyatakan tidak berpengaruh secara signifikan pada nilai perusahaan. ********************************************************************** This research discusses the influence of capital structure and cash holdings on firm’s value. The objects are companies listed on IDX or Indonesia Stock Exchange in 2013 until 2017. For the sample, this research uses 1.600 samples of data that have been selected based on the purposive sampling method. In this research, there are two testing models. The first model is measured by a capital structure that uses two variables namely long-term debt ratio and short-term debt ratio, market value of equity, capital expenditures, fixed assets, selling, general and administrative expenses, net operating revenue and dividend yield ratio. While the second model is measured by the ratio of long-term debt, the ratio of short-term debt, cash holdings, capital expenditures, net operating revenue and return on invested capital. The results on the first model are the ratio of short-term debt, long-term debt ratio, fixed assets and net operating revenue have a significant negative effect on cash holdings while the market value of equity, capital expenditures and dividend yield ratio have a significant positive effect on cash holdings and the last is selling, general and administrative expenses where the test results from this study state that these variables does not have a significant effect on cash holdings. Furthermore, the results of the second model research are cash holdings, capital expenditures, net operating revenue and return on invested capital have a significant positive on firm value while the short-term debt ratio have a significant negative on firm value and the long-term debt ratio have no effect on firm value.

Item Type: Thesis (Undergraduate)
Additional Information: Similarity: 23
Uncontrolled Keywords: capital structure, cash holdings, firm value.
Subjects: H Social Sciences > HF Commerce > Business
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: School of Economic and Business > Accounting
SWORD Depositor: Admin Repository Universitas Internasional Batam
Depositing User: Admin Repository Universitas Internasional Batam
Date Deposited: 21 Oct 2019 09:41
Last Modified: 05 Oct 2020 07:36
URI: http://repository.uib.ac.id/id/eprint/1902

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