PENGARUH KEPEMILIKAN MANAJERIAL DAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN UTANG SEBAGAI VARIABEL INTERVENING
ABSTRACT: The purpose of this
study is to understand the direct and indirect influence of managerial and
institutional ownership to a firm’s value with debt policy as an intervening
variable. This study is conducted in a manufacture companies listed in
Indonesian stock exchange from 2013 to 2014. Purposive sampling is used as a
method of selecting the sample with three criteria which generate 30 companies
as a viable sample observed. The analytical method used path analysis (path
analysis). The results show that (1), Managerial ownership does not affect the
debt policy, (2) Institutional ownershiphas negative effect on the debt policy,
(3) Managerial ownership does not affect the firm’s value, (4) Ownership
institutional does not affect the firm’s value, (5) debt policy has no effect
on the firm’s value, (6) Debt policy fail to mediate the influence between
managerial and institutional ownership on firm’s value.
Penulis: A. A. Ayu Uccahati
Warapsari, I G.N. Agung Suaryana
Kode Jurnal: jpakuntansidd160124
