Pengaruh Struktur Kepemilikan Manajerial Pada Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Intervening

Padnyawati, Kadek Dewi; Kusumawati, Ni Putu Ayu

doi:10.32795/widyaakuntansi.v1i1.244

Cited by 4 publications

(5 citation statements)

References 3 publications

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“…Debt level moderates the relationship between ownership structure and agency conflict Padnyawati & Kusumawati (2019) reveal that proportional insider ownership influences various company financial decisions. The use of debt can also reduce the occurrence of conflicts between agents and principals (Harjito & Nurfauziah, 2006).…”

Section: H2: Insider Ownership Has Positive Effect On the Level Of Ag...mentioning

confidence: 95%

The effect of ownership structure on the level of agency conflict

Putri

Nurfauziah

2022

IJRBS

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This study aims to examine the effect of ownership structure on the level of agency conflict and examine the effect of corporate debt levels on the relationship between ownership structure and agency in manufacturing companies which is listed on the Indonesia Stock Exchange (IDX). In this study, researchers use two ownership structures, namely family ownership and insider ownership. The ownership structure is measured by the percentage of share ownership by family and insiders. The population of this study is all manufacturing companies listed on the IDX (Indonesian Stock Exchange) from 2017 to 2019. This study uses the purposive sampling technique. This study also has 19 companies with family ownership structures and 21 companies with insider ownership structures as samples. The data analysis technique uses descriptive statistical analysis by SPSS. The results of this study indicate that family ownership and insider ownership have a negative effect on the level of agency conflict in the company. In addition, this study also proves that the level of debt in the company strengthens the relationship between ownership structure and the level of agency conflict.

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Section: H2: Insider Ownership Has Positive Effect On the Level Of Ag...mentioning

confidence: 95%

The effect of ownership structure on the level of agency conflict

Putri

Nurfauziah

2022

IJRBS

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“…Struktur kepemilikan dijadikan salah satu faktor yang mempengaruhi nilai karena adanya agency conflict yang disebabkan karena manajer lebih memilih untuk meningkatkan kesejahteraan mereka sendiri dan mengabaikan kepentingan investor hal tersebut diakibatkan karena adanya asimetri informasi dimana hal tersebut menguntungkan manajer karena lebih memahami kondisi perusahaan sehingga dapat memanfaatkan konsdisi tersebut untuk kepentingan pribadi daripada meningkatkan nilai perusahaan. Hal tersebut sejalan dengan penelitian Padnyawati and Kusumawati (2018) yang menyatakan dalam menjalankan suatu perusahaan untuk meningkatkan kinerja perusahaan maka manajemen perusahaan bekerjasama dengan orang yang berkepentingan. Karena adanya kepentingan tersebut, apabila antara pihak berkepentingan dengan manajemen tidak sependapat maka akan timbul konflik yang berakibat tidak berhasilnya tujuan keuangan perusahaan.…”

Section: Pendahuluanunclassified

“…Munculnya konflik membebani pemilik saham untuk mengawasi pengelolaan perusahaan, maka aset perusahaan digunakan sebagai kepentingan pengelola daripada memaksimumkan kemakmuran pemilik saham. Karena konflik tersebut memepengaruhi struktur kepemilikan maka jalannya perusahaan pada akhirnya berpengaruh pada kinerja perusahaan dalam mencapai tujuan perusahaan yaitu memaksimalkan nilai perusahaan Menurut Padnyawati and Kusumawati (2018) Faktor berikutnya yang mempengaruhi nilai perusahaan adalah Kebijakan dividen yang merupakan kebijakan manajemen perusahaan untuk menetapkan keuntungan yang tersedia bagi pemilik saham, dibayarkan kepada para pemilik saham dalam bentuk dividen atau keuntungan tersebut ditahan untuk membiayai investasi pada periode salanjutnya. Kebijakan dividen jika dikaitkan dengan nilai perusahaan menjadi penting karena berdampak bagi perusahaan.…”

Section: Pendahuluanunclassified

“…Munculnya konflik membebani pemilik saham untuk mengawasi pengelolaan perusahaan, maka aset perusahaan digunakan sebagai kepentingan pengelola daripada memaksimumkan kemakmuran pemilik saham. Karena konflik tersebut memepengaruhi struktur kepemilikan maka jalannya perusahaan pada akhirnya berpengaruh pada kinerja perusahaan dalam mencapai tujuan perusahaan yaitu memaksimalkan nilai perusahaan (Padnyawati and Kusumawati, 2018). Berdasarkan penjelasan tersebut dapat diperkuat dari penelitian yang dilakukan oleh Padnyawati and Kusumawati (2018) bahwa struktur kepemilikan berpengaruh positif dan signifikan terhadap nilai perusahaan.…”

Section: H6: Kebijakan Dividen Berpengaruh Positif Terhadap Nilai Per...unclassified

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Mampukah Kebijakan Deviden Sebagai Variabel Intervening?

Maryanti,

Rahayu,

Saniyah Kholidiyah

2023

JAA

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This study aims to examine the effect of Profitability, Leverage, and Ownership Structure on Firm Value with Dividend Policy as Intervening Variables. This research method uses a quantitative research method with secondary data sources in the form of financial reports and annual reports of Food and Beverage Companies listed on the IDX for 2017-2020. Sample selection was carried out using the purposive sampling method and 13 sample companies that met the criteria. The data analysis technique in this study used Eviews 12. The research results show that (1) Profitability has an effect on Dividend Policy (2) Leverage has no effect on Dividend Policy (3) Ownership Structure has no effect on Dividend Policy (4) Profitability has an effect on Firm Value (5) Leverage has no effect on Firm Value ( 6) Dividend Policy has an effect on Firm Value (7) Ownership Structure has no effect on Firm Value (8) Dividend Policy is able to mediate the influence of Profitability on Firm Value (9) Dividend Policy is not able to mediate the influence of Leverage on Firm Value (10) Dividend Policy has no effect mediate the effect of Ownership Structure on Firm Value. Dividend policy can increase or decrease the value of the company when profitability is high or not. Dividend policy cannot increase or decrease the value of the company when leverage and ownership structure are high or not. This empirical study contributes to practice in companies in making policies and becomes a reference for investors in making investment decisions.

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“…Hasil Penelitian ini konsisten dengan penelitian terdahulu yang menunjukkan bahwa kebijakan deviden tidak berpengaruh terhadap kebijakan hutang [21].…”

Section: Pengaruh Kebijakan Deviden Terhadap Kebijakan Hutangunclassified

Kebijakan Hutang Melalui Free Cash Flow, Kepemilikan Manajerial dan Kebijakan Deviden

Fitri

Apriyanti

Lusiana

et al. 2022

INFEB

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This study aims to determine the relationship between the influence of Managerial Ownership, Dividend Policy and Investment Opportunity Set on debt policy with Free Cash Flow as a Moderating Variable in Manufacturing Companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2016-2020, totaling 195 companies. The sample of this research is 66 companies in 5 years, so the total data obtained is 330 using purposive sampling technique. The data in this study is secondary data in the form of annual data obtained from the official website of the Indonesia Stock Exchange, the official website of the company concerned. The data analysis method used in this research is descriptive statistical test, classical assumption test, panel data regression analysis and hypothesis testing using Eviews 9. The results show that a) Managerial Ownership has a positive and significant effect on debt policy, b) Dividend Policy has no effect on debt policy c) Investment Opportunity Set has no effect on debt policy d) Free cash flow is able to strengthen the influence of managerial ownership on debt policy e) Free cash flow is not able to strengthen the effect of dividend policy on debt policy. f) Free cash flow is not able to strengthen the effect of investment opportunity set on debt policy.

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Pengaruh Struktur Kepemilikan Manajerial Pada Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Intervening

Cited by 4 publications

References 3 publications

The effect of ownership structure on the level of agency conflict

The effect of ownership structure on the level of agency conflict

Mampukah Kebijakan Deviden Sebagai Variabel Intervening?

Kebijakan Hutang Melalui Free Cash Flow, Kepemilikan Manajerial dan Kebijakan Deviden

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