Free Cash Flow, Kinerja Keuangan dan Agency Cost Pada Perusahaan Perdagangan Yang Terdaftar Di Bursa Efek Indonesia

Mamay Komarudin, Naufal Affandi
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Abstract

This study aims to analyze how the influence of free cash flow and agency cost on company performance in the trading sector on the Indonesia Stock Exchange. Another objective is to examine agency cost as a moderating variable of the effect of free cash flow on the performance of trading sector companies on the Indonesia Stock Exchange. The research is an explanatory research conducted on trading companies listed on the Indonesia Stock Exchange. The variables of this study include free cash flow and agency cost as the independent variable while the dependent variable is the company's performance which is proxied by the profitability ratio (ROA). The research population was 53 trade sector companies listed on the Indonesia Stock Exchange in 2013 to 2016. The sample selection was done by purposive sampling so that it was selected to be 25 companies. The data analysis tool uses Moderating Regression Analysis (MRA). Research has shown that free cash flow has a negative impact on agency cost. Free cash flow has no effect on company performance. Agency cost increases the effect of free cash flow on company performance
自由现金流动、金融表现和金融表现等公司在印尼证券交易所注册
本研究旨在分析自由现金流和代理成本对印尼证券交易所交易部门公司绩效的影响。另一个目标是检查代理成本作为自由现金流对印尼证券交易所贸易部门公司业绩影响的调节变量。本研究是对印尼证券交易所上市的贸易公司进行的解释性研究。本研究的变量以自由现金流量和代理成本为自变量,因变量为公司绩效,以盈利能力比率(ROA)为代理变量。研究对象是2013年至2016年在印尼证券交易所上市的53家贸易行业公司。样本的选择是通过有目的的抽样,所以它被选定为25家公司。数据分析工具使用缓和回归分析(MRA)。研究表明,自由现金流对代理成本有负向影响。自由现金流对公司业绩没有影响。代理成本增加了自由现金流对公司绩效的影响
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