Analisis Pengaruh Faktor-Faktor Capital Structure Terhadap Firm’s Value pada Perusahaan yang Terdaftar di Bursa Saham Malaysia

Kho, Irene (2012) Analisis Pengaruh Faktor-Faktor Capital Structure Terhadap Firm’s Value pada Perusahaan yang Terdaftar di Bursa Saham Malaysia. Undergraduate thesis, Universitas Internasional Batam.

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Abstract

Firm’s value has always been a huge concern for many companies. It reflects a whole company’s management decisions and the perception of the investors toward the company. Firm’s value can be attained through the effective composition of financing. The reason this research has been carried out is to bring the company to its highest value from the wise decision made by managers. Capital structure is considered as an instrument that helps managers to determine firm’s value. Therefore, the main purpose of this research is to analyze the factors of capital structure such as firms size, profitability, public ownership, capital structure, dividend payout ratio, operating efficiency, sales growth rate, liquidity ratio, and business risk that affect firm’s value. The object of this research is list of companies listed in Bursa Saham Malaysia in the period of 2005 until period of 2010. Samples have been chosen under purposive sampling method and only 40 firms or 240 observation datas meet the requirements. This research uses multiple regression method to analyze the effect of independent variables on dependent variable. The result shows that profitability and dividend payout ratio have a significant effect on firm’s value. The result also indicates that firm size, public ownership, capital structure, sales growth rate, operating efficiency, liquidity ratio, and business risk have no significant effect on firm’s value. These findings show that firm’s earnings and its frequency distribution of earnings need to be attained in order to reach firm’s maximum level of value. Keywords: Firm’s value, capital structure, firm size, profitability, public ownership, capital structure, dividend payout ratio, operating efficiency, sales growth rate, liquidity ratio, business risk

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