PENGARUH RETURN ON EQUITY DAN TOTAL ASET TERHADAP PRICE BOOK VALUE PADA PERUSAHAAN PERTAMBANGAN DENGAN DEBT TO EQUITY RATIO SEBAGAI VARIABEL INTERVENING
ABSTRACT: The purpose of this
study is to develop structural models of factors that affect the value of the
company. Company value is influenced by theprofitability and size of the
company directly or in the intervening capitalstructure. The selected research
object is in mining company at IndonesiaStock Exchange in period 2010 to
2015.The sample size required for thisstudy was initially as many as 42
companies. After screening there are 29companies that can be used or 174
observations with sampling techniqueusing purposive non random sampling. The
analysis tool used is normality test, deviation of classical assumption, data
fit test, regression equation test,hypothesis test and coefficient of
determination. Sobel test test in this research is also conducted to test
whether intervening variable is capital structure.The results showed that the
capital structure (debt to equity ratio) andprofitability (return on equity)
proved to have a positive and significant effect on the value of the company
(price book to value). Profitability (returnon equity) proved to negatively and
significantly affect the capital structure(debt to equity ratio). The size of
the firm (size) proved to have a positiveand significant influence on the
structure of capital (debt to equity ratio).The size of the firm (size) proved
to have a negative effect is not significantto the value of the company (price
book value). The capital structure (debt to equity ratio) proves to be a
mediating variable between return on equity andfirm size to firm value.
Keywords: return on equity,
total assets, debt to equity ratio and price book value
Penulis: Astohar
Kode Jurnal: jpmanajemendd170413
