Financial Performance, Exchange Rate, and Firm Value: The Indonesian Public Companies Case

Setiawanta, Yulita; Utomo, Dwiarso; Ghozali, Imam; Jumanto, Jumanto

doi:10.15388/omee.2020.11.37

Cited by 15 publications

(11 citation statements)

References 34 publications

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“…Hal ini secara tidak langsung dapat menurunkan struktur modal. Penelitian Setiawanta et al (2020) serta Mantari & Nuryasman (2017) menyatakan bahwa nilai tukar memoderasi struktur modal terhadap nilai perusahaan. H2c : Nilai tukar memoderasi pengaruh struktur modal terhadap nilai perusahaan.…”

Section: Struktur Modal Nilai Perusahaan Dan Indikator Makroekonomiunclassified

“…Ukuran dewan yang semakin besar dapat memperbesar kemungkinan konflik dapat terjadi. H6b : Suku bunga memoderasi pengaruh ukuran dewan terhadap nilai perusahaan Nilai tukar berhubungan dengan kinerja perusahaan terutama pada perusahaan yang memiliki kegiatan perdagangan internasional (Setiawanta et al, 2020) dimana kinerja perusahaan juga ditentukan oleh tata kelola perusahaan. Tata kelola yang baik dapat direpresentasikan dengan ukuran dewan yang seimbang sehingga mengurangi konflik agensi (Hastori et al, 2015).…”

Section: Good Corporate Governance Nilai Perusahaan Dan Indikator Mak...unclassified

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Peran Moderasi Indikator Makroekonomi Pada Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan

Azizah¹,

Siregar²,

Sasongko

2023

akurasi

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Penelitian ini menganalisis determinan nilai perusahaan dan peran moderasi indikator makroekonomi terhadap determinan nilai perusahaan. Pengujian data sekunder dilakukan pada laporan keuangan perusahaan IDX High Dividend 20 periode 2017-2021 yang dianalisis dengan regresi data panel. Determinan nilai perusahaan yang diuji meliputi kebijakan dividen, struktur modal, kepemilikan, free cash flow, profitabilitas dan good corporate governance (GCG). Suku bunga dan nilai tukar (kurs) digunakan sebagai variabel pemoderasi Hasil penelitian menunjukkan bahwa kebijakan dividen, kepemilikan, dan ukuran dewan secara positif berpengaruh signifikan sedangkan komite audit berpengaruh negatif signifikan pada nilai perusahaan. Peran moderasi suku bunga dan nilai tukar dapat dilihat pada interaksinya dengan variabel kebijakan dividen dan variabel GCG yang diproksikan melalui ukuran dewan dan komite audit. Peran moderasi suku bunga dapat meningkatkan nilai perusahaan jika berinteraksi dengan kebijakan dividen, dan suku bunga dapat meningkatkan maupun menurunkan nilai perusahaan jika berinteraksi dengan GCG. Efek moderasi nilai tukar dapat meningkatkan nilai perusahaan jika berinteraksi dengan kebijakan dividen dan GCG.

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Section: Struktur Modal Nilai Perusahaan Dan Indikator Makroekonomiunclassified

Section: Good Corporate Governance Nilai Perusahaan Dan Indikator Mak...unclassified

Peran Moderasi Indikator Makroekonomi Pada Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan

Azizah¹,

Siregar²,

Sasongko

2023

akurasi

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“…The right compound of debt and equity will increase the overall market value of a company (Rahmawati, 2020). One of the strategy companies implementing to boost their financial performance is the use of different levels of equity and debt (Leonard & Mwasa, 2014;Setiawanta et al, 2020). DER was chosen as one of the proxy of capital structure in this research because managers in a business need to take the debt equity ratio as a warning, since high leverage means a higher risk of lowquality bankruptcy and the debt structure can be considered a signal to the market (Chowdhury & Chowdhury, 2010;Chandra, Junaedi, Wijaya, & Ng, 2021).…”

Section: Debt-to-equity Ratiomentioning

confidence: 99%

Capital structure, liquidity, and firm size impact on profitability of mining industry in Indonesia

Setiawan

Pereira

2021

ICFBE

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The aim of this research is specifically for measuring the impact of capital structure, liquidity, and firm size on mining industry profitability in Indonesia, both partially and simultaneously. There are five independent variables within this study that are examined by descriptive statistical analysis, classical assumption test, multiple linear regression, and hypothesis testing. In order to select the observation data, purposive sampling method and panel data were used. Adopting quantitative research, there are 119 observation data from 17 samples within the period of 2013 to 2019. Financial ratios used in this study are Debt-to-equity Ratio, Short-term Debt to Asset ratio, Long-term Debt to Asset ratio, Current Ratio, Firm Size, and Return on Equity. DER, STDA, and LTDA are used as the measurement for capital structure, CR as the proxy of liquidity, and FIRMSIZE. Meanwhile, the proxy of profitability is Return on Equity (ROE) which is the dependent variable in this study. The findings of the study reveal that DER, LTDA, and Firm Size all have a significant impact on ROE. On the other hands, STDA and CR do not have a significant effect toward ROE. The most significant independent variable toward ROE is DER.

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“…Ross (2007) defines Return on Assets (ROA) as the metric that measures the ratio of a company's net income to its total assets. The Return on Assets (ROA) metric is utilized to evaluate the level of profitability achieved by a Vintilă andGherghina (2014), andSetiawanta et al (2021). This demonstrates that the core financial variable plays a crucial role in attaining the company's return on assets (ROA) metric.…”

Section: Introductionmentioning

confidence: 99%

“…Abbas, M. A. Y., Setyadi, D., Paminto, A., Azis, M. (2023). The Antecedents of Financial Performance and their Implications for Firm Value in Mining Sector Companies Listed on the Indonesia Stock Exchange…”

mentioning

confidence: 99%

The antecedents of financial performance and their implications for firm value in mining sector companies listed on the Indonesia Stock Exchange

Abbas,

Setyadi,

Paminto

et al. 2023

J. of Law and Sust. Develop.

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Indonesia is a nation characterized by its substantial endowment of natural resources. Based on the most recent data provided by the World Bank, Indonesia holds the fourth position in terms of global copper production, ranks fifth among the major nickel producers worldwide, stands at the eighth position in terms of global gold production, and is recognized as the largest coal producer globally. The allure of Indonesia's abundant natural resources serves as a magnet for potential investors. Furthermore, the valuation of mining industry stocks serves as a crucial metric for investors to allocate their capital and pursue potential profitability in forthcoming periods. The mining sector firms encompass a collection of enterprises that are publicly traded on the Indonesia Stock Exchange. These companies operate within several sub-sectors of mining, quarrying, and other related mining services. The swings observed in mining stock prices, characterized by both increases and losses, signify a dynamic and volatile market environment. The fluctuation in stock prices can be attributed to the interplay of supply and demand, which is influenced by a multitude of factors encompassing both macroeconomic and microeconomic considerations. The findings of this study indicate that the first model demonstrates a positive and statistically significant relationship between ownership structure, intellectual capital, and financial performance. Moreover, the moderation of intellectual capital in the context of the interaction between capital structure and financial performance demonstrates a noteworthy and unfavorable impact on financial performance. In contrast, it has been observed that both capital structure and exchange rates do not exert a substantial influence on financial performance. The findings of the second model indicate that various factors, such as capital structure, financial performance, ownership structure, and intellectual capital, have a statistically significant and positive impact on business value, with the exception of the exchange rate. In the present study, the findings pertaining to indirect influence through mediation reveal that the financial performance of firms plays a mediating role in the association between capital structure, ownership structure, exchange rates, and firm value. The findings of the analysis indicate that the proposed hypotheses can be accepted, with the exception of a few hypotheses that were rejected due to the lack of substantial effects observed in the results. The validation of many hypotheses within the initial framework provides empirical support for the theoretical propositions and conceptual frameworks posited by Jensen and Meckling (1976), Sveiby (2010), and Stewart and Ruckdeschel (1998). The acceptance of the hypothesis in the second model aligns with the viewpoints expressed by Brigham et al. (2015), Freeman (2015), and Jensen & Meckling (1976). The internal role of a firm plays a crucial function in attaining optimal financial performance and determining the value of a mining company.

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Financial Performance, Exchange Rate, and Firm Value: The Indonesian Public Companies Case

Cited by 15 publications

References 34 publications

Peran Moderasi Indikator Makroekonomi Pada Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan

Peran Moderasi Indikator Makroekonomi Pada Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan

Capital structure, liquidity, and firm size impact on profitability of mining industry in Indonesia

The antecedents of financial performance and their implications for firm value in mining sector companies listed on the Indonesia Stock Exchange

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