Significance of Debt Policy as a reinforcement factor in the Effect of Managerial Ownership and Profitability Toward Company Value

Management Science Research Journal Pub Date : 2022-06-30 DOI:10.56548/msr.v1i2.3

Siti Epa Hardiyanti, Akhmadi

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Abstract

The research aims to determine whether there are effects between managerial ownership and profitability on companyvalue, by using debt policy as intervening variable. The type of research used descriptive and associative research.The research population was manufacturing companies listed in Indonesia Stock Exchange (IDX) period of 2011-2015 as many as 80 companies. By using purposive sampling method, 25 companies as sample were obtained. The data used secondary data. Dataanalysis used classical assumption test, path analysis and partial test (t-test), using SPSS (Statistics Product andService Solution) 17 for windows. The results indicate that there are no effects of managerial ownership on companyvalue, there are positive and significant effects of profitability on company value, there are no effects of debt policy on company value, there are positive and significant effects of managerial ownership on debt policy, there are negativebut not significant effects of profitability on debt policy, there are no effect of managerial ownership on company value with Debt Policy mediated, there are negative effects of profitability on company value with Debt Policy mediated

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债务政策作为管理层持股和盈利能力对公司价值影响的强化因子的意义

本研究旨在以债务政策为中介变量，确定管理层持股和盈利能力对公司价值是否存在影响。研究类型采用描述性和联想性研究。研究对象为2011-2015年期间在印尼证券交易所(IDX)上市的制造业公司多达80家。采用目的抽样的方法，获得了25家公司作为样本。数据采用了二次数据。数据分析采用经典假设检验、路径分析和偏检验(t检验)，使用SPSS (Statistics Product and service Solution) 17为windows操作系统。结果表明:管理层持股对公司价值没有影响，盈利能力对公司价值有正向显著影响，债务政策对公司价值没有影响，管理层持股对债务政策有正向显著影响，盈利能力对债务政策有负向但不显著影响，在债务政策介导下，管理层持股对公司价值没有影响。在债务政策的中介作用下，盈利能力对公司价值存在负向影响

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Management Science Research Journal

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