Analisis Pengaruh Kepemilikan Blockholder, Kepemilikan Manajerial, Kepemilikan Institusional, dan Komite Audit terhadap Nilai Perusahaan

Iwan Wirawardhana; Meco Sitardja

doi:10.36766/ijag.v2i1.15

Analisis Pengaruh Kepemilikan Blockholder, Kepemilikan Manajerial, Kepemilikan Institusional, dan Komite Audit terhadap Nilai Perusahaan

Iwan Wirawardhana, Meco Sitardja

Abstract

The aim of this study is to analyse the effect of Blockholder Ownership, Managerial Ownership, Institutional Ownership, and Audit Committee towards Firm Value. The background of this research is the agency theory and ownership theory. The population in this study are 46 property companies listed on the Indonesia Stock Exchange (IDX) for the period 2012-2016. By using purposive sampling technique, 35 companies are qualified as data samples. This research uses the random effect model as the estimation model and multiple regression as the method of analysis. The results of this study shows that Institutional Ownership has a positive effect on Firm Value. Meanwhile, Blockholder Ownership, Managerial Ownership, and Audit Committee have no effect on Firm Value. Moreover, the F-test implies that the variables, blockholder ownership, managerial ownership, institutional ownership, and audit committee, simultaneously influence firm value.

Keywords

Firm value, blockholder ownership, manajerial ownership, institutional ownership, audit committee

Full Text:

PDF

References

BBC. (2014). Apa yang Harus Anda Ketahui Tentang Masyarakat Ekonomi ASEAN. Retrieved from http://www.bbc.com/indonesia/berita_indonesia/2014/08/140826_pasar_tenaga_kerja_aec

Boediono, G. S. (2005). Kualitas Laba: Studi Pengaruh Mekanisme Corporate Governance dan Dampak Manajemen Laba dengan Menggunakan Analisis Jalur. Simposium Nasional Akuntansi VIII, VIII(September), 172–194.

Catchick, P. (2014). Conflict of Interest : Gateway to Corruption. 2014 ACFE European Fraud Conference.

CORPLAW. (2013). Shareholder & Stakeholder Theories of Corporate Governance. Retrieved from http://www.corplaw.ie/blog/bid/317212/Shareholder-Stakeholder-Theories-Of-Corporate-Governance

Ekonomi Kompas. (2018). Kuartal I 2018, Investasi di Indonesia Capai Rp 185,3 Triliun. Retrieved from https://ekonomi.kompas.com/read/2018/04/30/142135526/kuartal-i-2018-investasi-di-indonesia-capai-rp-1853-triliun

Friedman, M. (1982). Capitalism and Freedom. The University of Chicago Press, Chicago 60637.

Friedman, M. (1970). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.

Gujarati, D. N., & Porter, D. C. (2010). Basic Econometrics. McGraw-Hill (5th ed.). New York: McGraw-Hill. https://doi.org/10.1126/science.1186874

Hakim, A. R. (2018). Asumsi Klasik : Multikolinearitas, Heterokedastisitas, dan Autokorelasi. Retrieved from https://independent.academia.edu/ArifRahmanHakim

Heze, E. (2018). Perbedaan Kepemilikan Manajerial dan Kepemilikan Institusional. Retrieved from http://www.sahamgain.com/2017/04/perbedaan-kepemilikan-manajerial-dan.html

Jensen, & Meckling. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economic, 3((4)), pp: 305-360.

Kemenperin. (2016). BKPM Genjot Investasi Asing Di Sektor Properti. Retrieved from http://www.kemenperin.go.id/artikel/12841/BKPM-Genjot-Investasi-Asing-Di-Sektor-Properti

Liputan6. (2016). Investor Asing Dorong Pertumbuhan Sektor Properti. Retrieved from https://www.liputan6.com/properti/read/2561830/investor-asing-dorong-pertumbuhan-sektor-properti

Nasution, M., & Setiawan, D. (2007). Pengaruh Corporate Governance Terhadap Manajemen Laba Di Industri Perbankan Indonesia. Simposium Nasional Akuntansi X, (Juli), 1–26. https://doi.org/10.1016/B978-0-08-097086-8.73019-4

Nawatmi, S., & Nusantara, A. (1999). General Least Square : Solusi Atas Gejala. Jurnal Bisnis Dan Ekonomi, Maret 1999.

Oktavianus, B. C. (2017). Masyarakat Ekonomi ASEAN (MEA), Inilah yang Perlu Diketahui - Cermati. Retrieved from https://www.cermati.com/artikel/masyarakat-ekonomi-asean-mea-inilah-yang-perlu-diketahui

Praditia, O. R. (2010). Analisis Pengaruh Mekanisme Corporate Governance Terhadap Manajemen Laba Dan Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (BEI) Pada Tahun 2005-2008. Universitas Diponegoro Semarang. Retrieved from http://eprints.undip.ac.id/22964/

Riadi, M. (2017). Pengertian, Jenis dan Pengukuran Nilai Perusahaan. Retrieved from http://www.kajianpustaka.com/2017/11/pengertian-jenis-dan-pengukuran-nilai-perusahaan.html

Ross, S. A. (1973). ‘ The Economic Theory of Agency : The Principal Problem .’ The American Economic Review, 63(FEBRUARY 1973), 134–139. https://doi.org/1817064

Siallagan, H., & Machfoedz, M. (2006). Mekanisme Corporate Governance, Kualitas Laba dan Nilai Perusahaan. Simposium Nasional Akuntansi 9 Padang, (61), 23–26.

Sofia, M. (2013). Pengaruh Blockholder Ownership Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Jakarta. Jurnal Ekonomi Dan Bisnis, 4(1), 59–69.

Sofia, M. (2012), Pengaruh Nilai Perusahaan terhadap Blockholder Ownership pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia. JEMI, 3 (1), 67-76.

Susanti, R., & Mildawati, T. (2014). Pengaruh Kepemilikan Manajemen, Kepemilikan Institusional dan Corporate Social Responsibility terhadap Nilai Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 3(1), 1–18. https://doi.org/10.1080/17450140600679883

Susanto, P. B., & Subekti, I. (2012). Pengaruh Corporate Social Responsibility Dan Good Corporate Governance Terhadap Nilai Perusahaan ( Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia ). Jurnal Ilmiah Mahasiswa Akuntansi, vol 1.

Thaharah, N., & Asyik, N. F. (2016). Pengaruh Mekanisme Corporate Governance Dan Kinerja Keuangan Terhadap Nilai Perusahaan LQ 45. Jurnal Ilmu Dan Riset Akuntansi, 5(2), 1–18. https://doi.org/ISSN : 2460-0585

Thomsen, S., Pedersen, T., & Kurt Kvist, H. (2003). The Effect of Blockholder Ownership on Firm The Effect of Blockholder Ownership on Firm Value, (January). Retrieved from https://www.researchgate.net/publication/277295424_The_Effect_of_Blockholder_Ownership_on_Firm_Value_in_Market-_and

Weston, J. F., & Copeland, T. E. (2001). Manajemen Keuangan. System (9th ed.). Jakarta: Binarupa Aksara.

Wibowo, S. (2016). Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, Kebijakan Deviden Dan Kebijakan Hutang Terhadap Nilai Perusahaan. (Tesis, Universitas Airlangga Surabaya, Indonesia)Retrieved from http://repository.unair.ac.id/55266/2/Tesis Soni Wibowo.pdf

Widarjono, A. (2013). Ekonometrika : Pengantar dan Aplikasinya. Jakarta: Ekonosia.

Yuliani. (2012). Blockholder Ownership, Capital Structure And Manufacture Company Value In Indonesia Stock Exchange. Blockholder Ownership, Capital Structure And Manufacture Company Value In Indonesia Stock Exchange, 15(3), 471–482.

DOI: https://doi.org/10.36766/ijag.v2i1.15