{"title":"管理者所有权在印尼金融公司债务政策与股东价值关系中的作用","authors":"Putri Regina Prayoga, Nikmah Nikmah","doi":"10.37676/ekombis.v12i1.5149","DOIUrl":null,"url":null,"abstract":"This study aims to determine the effect of debt policy on shareholder value with managerial ownership as a moderation variable. The research sample used financial companies listed on the Indonesia Stock Exchange during 2019-2022. The analysis method uses multiple regression tests and MRA (Moderator Regression Analysis) tests. The results of this study show that debt policy proxied by DAR has a positive effect on shareholder value, managerial ownership has a negative effect on shareholder value and managerial ownership is proven to moderate the relationship of debt policy to shareholder value. Debt policy proxied by DER has no effect on shareholder value, and managerial ownership also has no effect on debt policy.","PeriodicalId":193914,"journal":{"name":"EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis","volume":"4 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The Role Of Managerial Ownership In The Relationship Of Debt Policy To Shareholder Value In Financial Companies In Indonesia\",\"authors\":\"Putri Regina Prayoga, Nikmah Nikmah\",\"doi\":\"10.37676/ekombis.v12i1.5149\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study aims to determine the effect of debt policy on shareholder value with managerial ownership as a moderation variable. The research sample used financial companies listed on the Indonesia Stock Exchange during 2019-2022. The analysis method uses multiple regression tests and MRA (Moderator Regression Analysis) tests. The results of this study show that debt policy proxied by DAR has a positive effect on shareholder value, managerial ownership has a negative effect on shareholder value and managerial ownership is proven to moderate the relationship of debt policy to shareholder value. Debt policy proxied by DER has no effect on shareholder value, and managerial ownership also has no effect on debt policy.\",\"PeriodicalId\":193914,\"journal\":{\"name\":\"EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis\",\"volume\":\"4 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2024-01-16\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.37676/ekombis.v12i1.5149\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.37676/ekombis.v12i1.5149","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
摘要
本研究旨在确定债务政策对股东价值的影响，并以管理所有权作为调节变量。研究样本为2019-2022年间在印度尼西亚证券交易所上市的金融公司。分析方法采用多元回归检验和调节回归分析（MRA）检验。研究结果表明，以DAR为代表的债务政策对股东价值有正向影响，管理者所有权对股东价值有负向影响，管理者所有权被证明可以调节债务政策与股东价值的关系。 用 DER 表示的债务政策对股东价值没有影响，管理者所有权对债务政策也没有影响。
The Role Of Managerial Ownership In The Relationship Of Debt Policy To Shareholder Value In Financial Companies In Indonesia
This study aims to determine the effect of debt policy on shareholder value with managerial ownership as a moderation variable. The research sample used financial companies listed on the Indonesia Stock Exchange during 2019-2022. The analysis method uses multiple regression tests and MRA (Moderator Regression Analysis) tests. The results of this study show that debt policy proxied by DAR has a positive effect on shareholder value, managerial ownership has a negative effect on shareholder value and managerial ownership is proven to moderate the relationship of debt policy to shareholder value. Debt policy proxied by DER has no effect on shareholder value, and managerial ownership also has no effect on debt policy.
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