Analisis Faktor Faktor yang Mempengaruhi Nilai Perusahaan dengan Leverage sebagai Variabel Moderating pada Perusahaan Industri Dasar dan Kimia yang Terdaftar di Bursa Efek Indonesia

Abstract

The objective of the research was to examine and to analyze some factors which influenced firm value which was represented by cu"ent ratio, return on equity, price earning ratio, investment opportunity set, institutional ownership, managerial ownership, inventory turnover, net profit margin, gross profit margin, total asset turnover, and operational profit margin, and to examine and to analyze whether the variables of cu"ent ratio, institutional ownership, inventory turnover, net profit margin, gross profit margin, total asset turnover, and operational profit margin as the result of factor test simultaneously and partially influenced firm value, and leverage as moderating variable influenced the co"elation of the variables of cu"ent ratio, institutional ownership, inventory turnover, net profit margin, gross profit margin, total asset turnover, and operational profit margin with firm value. The population was 63 companies in the sector of basic industry and chemistry listed in BEi (the Indonesian Stock Exchange) in the period of 2011-2014, and 58 of them were used as the samples, using stratified random sampling technique so that there were 232 observatory samples. Hypothesis I was tested by using Kaiser-Meyer-Olkin (KMO) test, hypothesis II was tested by using multiple linear regression analysis, and hypothesis lll was tested by using residual test with an SPSS software program. The result hypothesis I test showed that, simultaneously, cu"ent ratio, institutional ownership, inventory turnover, net profit margin, gross profit margin, total asset turnover, and operational profit margin influenced firm value through factor test. In hypothesis II, it was found that simultaneously, cu"ent ratio, institutional ownership, inventory turnover, net profit margin, gross profit margin, total asset turnover, and operational profit margin influenced firm value, while partially only the variables of cu"ent ratio, gross profit margin, and total asset turnover influenced firm value. Leverage as moderating variable could not moderate the co"elation of cu"ent ratio, institutional ownership, inventory turnover, net profit margin, gross profit margin, total asset turnover, and operational profit margin with firm value in basic industry and chemistry companies listed in BEL