THE EFFECT OF CORPORATE GOVERNANCE, COMPANY MEASURE, AND CAPITAL STRUCTURE OF PROFITABILITY AND THE VALUE OF THE FIRM IN TEXTILE AND GARMENT INDUSTRY WAS LISTED IN INDONESIA STOCK EXCHANGE
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Keywords:
Independent commissioner, SIZE, Debt to Equity Ratio, Return on Equity, Firm Value
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Abstract
This research aims to find out the effect of corporate governance, company size and capital structure on profitability and firm value in textile and garment industry companies listed on the Indonesia Stock Exchange. Corporate governance variables are measured by independent commissioners. Company size variable is measured by SIZE. Capital structure variables are measured by Debt to Equity Ratio (DER). The profitability variable is measured by Return on Equity (ROE). The population in this research is the textile and garment industry sub-sector manufacturing companies listed on the IDX. The sampling method used was purposive sampling method. Data sources are secondary data collected by documentation techniques. This study uses descriptive statistics and inferential statistics with a quantitative approach and uses panel data regression techniques assisted by the Eviews version 9 program. The results showed that first, the independent commissioner had a positive and not significant effect on Return on Equity. Second, SIZE has a negative and not significant effect on Return on Equity. Third, Debt to Equity Ratio has a positive and significant effect on Return on Equity. Fourth, independent commissioners have a positive and significant effect on tobin’s Q. fifth, SIZE has a positive and significant effect on tobin’s Q. sixth, Debt to Equity Ratio has a negative and significant effect on tobin's Q. seventh, independent commissioners have no effect on tobin’s Q through Return on Equity. eighth, SIZE has no effect on tobin’s Q through Return on Equity. ninth, Debt to Equity Ratio affects tobin's Q through Return on Equity and Tenth, profitability has a positive and significant effect on tobin’s Q
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THE EFFECT OF CORPORATE GOVERNANCE, COMPANY MEASURE, AND CAPITAL STRUCTURE OF PROFITABILITY AND THE VALUE OF THE FIRM IN TEXTILE AND GARMENT INDUSTRY WAS LISTED IN INDONESIA STOCK EXCHANGE. (2019). I-Finance: A Research Journal on Islamic Finance, 5(2), 153-164. https://doi.org/10.19109/ifinance.v5i2.4912
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How to Cite
THE EFFECT OF CORPORATE GOVERNANCE, COMPANY MEASURE, AND CAPITAL STRUCTURE OF PROFITABILITY AND THE VALUE OF THE FIRM IN TEXTILE AND GARMENT INDUSTRY WAS LISTED IN INDONESIA STOCK EXCHANGE. (2019). I-Finance: A Research Journal on Islamic Finance, 5(2), 153-164. https://doi.org/10.19109/ifinance.v5i2.4912
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Soliha, E. dan Taswan. (2012). Pengaruh Keijakan Hutang Terhadap Nilai Perusahaan serta Beberapa Faktor yang Mempengaruhinya. Jurnal Bisnis dan Ekonomi.
Rahayu, Maryati dan Sari, Bida. (2018). Faktor-faktor yang Mempengaruhi Nilai Perusahaan. Ikraith-Humaniora,2(2).
Talebria, Ghodratallah, Mahdi Salehi, Hashem Valipour, and Shahram Shafee. (2010). Empirical Study of the Relationship bet-ween Ownership Structure and Firm Performance: Some Evidence of Listed Companies in Tehran Stock Exchange. Journal of Sustainable Development, 3(2), 264-270.
Velnampy, T. (2013). Corporate Governance and Firm Performance: A Study of Sri Lankan Manufacturing Companies. Journal of Economics and Sustainable Development, 4(3), 228-235.
Wijaya, D. &. (2013). Pengaruh Struktur Modal, Profitabilitas dan Ukuran Perusahaan pada Nilai Perusahaan. Jurnal Akuntasi Universitas Udayana (Unud), 4(2)
Ang, Robert. (1997). Pasar Modal Indonesia: Media Soft Indonesia.
Apriada,Kadek. (2013). Pengaruh Struktur Kepemilikan,Struktur Modal dan Profitabilitas pada Nilai Perusahaan. [Tesis]. Denpasar: Program Pascasarjana Universitas Udayana. Available atwww.pps.unud.ac.id[accessed 18 April 2015]
Dewa kadek Oka Kusumajaya (2011). Pengaruh Struktur Modal dan Pertumbuhan Perusahaan terhadap Profitabilitas dan Nilai Perusahaan manufaktur di Bursa Efek Indonesia. [Tesis]. Denpasar: Universitas Udayana.
Dewi, Retno Kusuma dan Widagdo, Bambang. (2012). Pengaruh CorporateSocial Responsibility Dan Good Corporate Governance Terhadap KinerjaPerusahaan. Jurnal Manajemen Bisnis, 2 (1).
Handayani, Sri Retno. (2008). Analisis Faktor-Faktor yang Mempengaruhi Underpricing Pada Penawaran Umum Perdana. [Tesis]. Semarang: Magister Manajemen Program Pasca Sarjana Universitas Diponegoro.
Hamidy.(2015). Pengaruh StrukturModal terhadap NilaiPerusahaan dengan Profitabilitas sebagai Variabel intervening pada Perusahaan properti dan real estate di bursa efek indonesia. Jurnal ekonomi dan bisnis universitas udayana (unud), bali.
Hermuningsih, (2013).Pengaruh profitabilitas, Growth Opportunity, Strurktur Modal terhadap Nilai Perusahaan pada perusahaan public di Indonesia , Buletin Ekonomi Moneter dan Perbankan, Oktober, pp. 127-148UPP.
Huang, Lan-Ying. (2002). FDI Scale and Firm Performance of Taiwanese Firms in China. Dissertation. H. Wayne Huizenga School of Business and Enterpreneurship. Nova Southeastern University.
Mahendra, Alfredo DJ. (2011). Pengaruh Kinerja Keuangan terhadap Nilai Perusahaan (Kebijakan Deviden sebagai Variabel Moderating) pada Perusahaan Manufaktur di Bursa Efek Indonesia. [Tesis]. Denpasar: Pascasarjana Udayana.
Pratama, I Gusti Bagus Angga dan Wiksuana, I Gusti Bagus. (2016). Pengaruh Ukuran Perusahaan dan Laverage Terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Mediasi. E-Jurnal Manajemen, 5(2).
Sudarso, Yos Yoseph dan Anastasio Rany. (2012). Pengaruh {enerapan Corporate Governance Terhadap Return On Equity (ROE). [Skripsi]. Denpasar: Universitas Udayana.
Sulong, Z., &Nor, F. M. (2008). Dividends, Ownership Structure and Board Governance on Firm Value: Empirical Evidence from Malaysian Listed Firms. Malaysian Accounting Review, 7(2).
Soliha, E. dan Taswan. (2012). Pengaruh Keijakan Hutang Terhadap Nilai Perusahaan serta Beberapa Faktor yang Mempengaruhinya. Jurnal Bisnis dan Ekonomi.
Rahayu, Maryati dan Sari, Bida. (2018). Faktor-faktor yang Mempengaruhi Nilai Perusahaan. Ikraith-Humaniora,2(2).
Talebria, Ghodratallah, Mahdi Salehi, Hashem Valipour, and Shahram Shafee. (2010). Empirical Study of the Relationship bet-ween Ownership Structure and Firm Performance: Some Evidence of Listed Companies in Tehran Stock Exchange. Journal of Sustainable Development, 3(2), 264-270.
Velnampy, T. (2013). Corporate Governance and Firm Performance: A Study of Sri Lankan Manufacturing Companies. Journal of Economics and Sustainable Development, 4(3), 228-235.
Wijaya, D. &. (2013). Pengaruh Struktur Modal, Profitabilitas dan Ukuran Perusahaan pada Nilai Perusahaan. Jurnal Akuntasi Universitas Udayana (Unud), 4(2)