Articles

The Influence of the Exchange Rate, Interest Rates, Indonesian Coal Price Reference (HBA) and World Oil prices on the Firm’s Value of Coal mining firms traded on the IDX in 2018-2023

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With this research, we want to better understand how exchange rates, interest rates, Indonesian coal reference prices, and oil prices about the valuation of coal firms that are publicly traded on the Indonesia Stock Exchange (IDX) for the period 2018-2023. Using a quantitative approach and multiple linear regression analysis, this research evaluates the effect on firm value. The analytical results demonstrate that exchange rates significantly impact firms value, while interest rates, coal reference and oil prices with firm value. Based on these findings, it is recommended that coal companies focus more on risk management related to fluctuations in exchange rates to enhance firm value.

The Effect of Capital Structure, Profitability, Liquidity, and Solvency on Firm Value with Managerial Ownership as a Moderating Variable in Food and Beverage Sub-Sector Companies Listed on the Indonesia Stock Exchange 2020-2023

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The purpose of this study was to analyze how the influence of capital structure, profitability, liquidity, and solvency, can affect firm value moderated by managerial ownership in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2020-2023. This research was conducted on food and beverage sub-sector companies listed on the IDX, data information was obtained through the official website of the Indonesia Stock Exchange www.idx.com, the sampling technique used purposive sampling with a population of 94 food and beverage companies listed on the Indonesia Stock Exchange for the period 2020-2023 and a sample of 16 companies. Tests were carried out with regression panel data analysis and Moderated Regression Analysis (MRA) using E-views statistical data processing software. The results of this study indicate that liquidity and solvency variables have no significant effect on firm value, capital structure variables and profitability have a significant effect on firm value. Managerial ownership is also unable to moderate the relationship between capital structure, profitability, liquidity, and solvency on firm value.

Factors Influencing Company Value on the Indonesian Stock Exchange: Insights from LQ45 Companies (2019-2023)

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This study examines the variables affecting the firm value (Tobin’s Q) of the Indonesian Stock Exchange’s LQ45 Index between 2019 and 2023. We assess sustainability scores (ESG Score) and some financial performances ratios i.e. return on assets (ROA), return on equity (ROE), and debt to equity ratio, whether each respective of these factors influence the firm value (Tobin’s Q) using quantitative analytical data obtained from the Indonesian Stock Exchange website. 41 of the 45 businesses that meet the study’s requirements are the subject of our analysis, yielding 205 samples in total. Eviews version 11 software was used to do multiple linear regression analysis on the data. All the independent factors (X1, X2, X3, and X4) have statistically significant individual effects on the dependent variable, according to our findings, which are based on the t-test results. The probability values for each of these variables are below 0.05. Furthermore, the F-test indicates that the independent factors taken together significantly affect the dependent variable, with a probability value of 0.000. Based on the determination coefficient test, the adjusted R square value is 63.12% which indicates that the independent variable significantly influences the dependent variable.

The Effect of Eco-Efficiency and Eco-Innovation Disclosure on Firm Value: Does Profitability Matter?

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This research aims to test whether profitability strengthens the influence of eco innovation and eco efficiency disclosures on the value of mining sector companies listed on the Indonesia Stock Exchange. Research data was obtained from annual reports and sustainability reports from the Indonesian Stock Exchange website and company websites. The sample used was 39 companies that met the criteria and were listed on the Indonesia Stock Exchange in 2018 – 2021. The sample data calculation technique used the cross sectional method via the eviews application. Hypothesis testing in this research uses multiple linear regression analysis methods. The results of this research show that eco innovation and eco efficiency have a positive effect on firm value, and profitability has an effect as a moderating predictor variable in the relationship between eco innovation and eco efficiency on firm value. This study differentiates samples based on more diverse dependent variables and involves moderating variables as amplifiers. Previous research did not use the two dependent variables, namely eco innovation and eco efficiency simultaneously so that the value of the company could not be determined as a whole whether the implementation of both had an effect on the value of the company. Then the researchers found that investors considered the application of eco innovation and eco efficiency to the value of mining sector companies.

The Impact of Intellectual Capital on Company Value with Profitability as a Mediator

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This study aims to determine the effect of intellectual capital on firm value with profitability as a mediator in the food and beverage sub-sector. This study is quantitative empirical research using hypothesis research that examines the significant influence and direction of the direct and indirect relationship between the independent variables and the dependent variable through the intermediate variable. The total research sample is 14 companies. The sampling technique used in this research was purposive sampling. The data used is panel data. The data analysis method uses path analysis with the help of Eviews software. Partial test results show that intellectual capital has a positive and significant effect on firm value and profitability. The Sobel test results show that profitability cannot mediate the effect of intellectual capital on firm value.

Green Accounting, Financial Performance, and Company Value: A Bibliometric Study

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This research aims to examine the interconnection between green accounting, financial performance, and company value. This study employs a bibliometric approach utilizing bibliographic coupling and co-occurrence analysis, identifying 119 relevant articles on Scopus. The results reveal two prominent clusters, namely sustainability and sustainable development. Green accounting not only influences financial performance and company value but also has the potential to impact sustainability and sustainable development. For companies to thrive, it is crucial to consider corporate interests and environmental sustainability. This research will benefit researchers and academics exploring the relationship between green accounting, financial performance, and company value.

 

Tax Aggressiveness in Indonesia: Insights From CSR, Financial Dynamics, and Governance

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This study explores the impact of CSR, leverage, profitability, and independent commissioners on tax aggressiveness in 45 food and beverage companies on the Indonesian Stock Exchange from 2013 to 2017. The analysis, using multiple linear regression in SPSS, revealed that CSR positively influence tax aggressiveness, while independent commissioners have a negative influence. However, neither profitability nor leverage significantly influences tax aggressiveness. We conducted a sensitivity analysis using different proxy variable for dependent variable and found that CSR and independent commissioner remain significant in both the ETR and BTD models for tax aggressiveness. However, the significance of profitability and leverage differed between the two models. In the ETR model, neither profitability nor leverage was significant. In contrast, in the BTD model, profitability was significant, but leverage was not. Our findings reinforce the importance of CSR, profitability, leverage, and independent commissioners in explaining tax aggressiveness. The study provides insight into the need for regulators to reduce tax aggressiveness by companies.

Internal Factors Affecting Firm Value (Case Study of Manufacturing Companies in Indonesia)

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Despite the pivotal role of the manufacturing sector in the Indonesian economy and its continuous growth, there exists a dearth of comprehensive research on the determinants of firm value within this sector. The lack of understanding regarding how financial factors such as leverage, liquidity, profitability, and firm size impact firm value among manufacturing companies listed on the IDX hinders effective decision-making for investors, creditors, stakeholders, and company management. This study aims to Investigate the effects of firm size, profitability, liquidity, and leverage on firm value is the main purpose of this study, which focuses on manufacturing companies listed on the Indonesia Stock Exchange (IDX). The population comprises manufacturing companies listed on the Indonesia Stock Exchange from 2018 to 2022. Using purposive sampling technique and going through the sampling criteria, a final sample of 82 companies was used in this research. The data analysis method used in this study was a regression analysis using SPSS software. The study revealed that higher debt levels (Leverage) and excessive cash reserves (Liquidity) were linked to decreased firm value. Additionally, the finding also shows that as companies became more profitable, their overall value tended to decrease. On a positive note, larger firms (Firm Size) exhibited higher company value. The findings have implications for investors, creditors, and stakeholders navigating the Indonesian manufacturing sector, providing nuanced insights into financial determinants of firm value. These findings emphasize the importance of a balanced financial strategy for companies and highlight the advantages of size in the economic landscape.

Analysis the Effect of Company Size, Profitability, Capital Structure and Risk Profile on Firm Value with Dividend Policy as a Moderating in Banking on the Indonesia Stock Exchange (2013-2022)

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This research was conducted to test and analyze the influence of company size, profitability, capital structure, and risk profile as independent variables on firm value as the dependent variable, as well as dividend policy to moderate the relationship between the independent variable and dependent variable. The research method in this research is quantitative research with panel data regression analysis using the Eviews application. The research object in this study is banking companies listed on the Indonesia Stock Exchange for the 2013-2022 period. The sampling technique used purposive sampling and found 110 observations. The research result show that profitability and capital structure have a positive effect on firm value. Meanwhile, company size and risk profile have no effect on firm value. The dividend policy is able to moderate the relationship between capital structure and risk profile with firm value. Meanwhile, the dividend policy is unable to moderate the relationship between company size and profitability with firm value.

The Influence of Good Corporate Governance on Firm Value before and during COVID-19 in Indonesia

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This study investigates the impact of independent commissioners, audit committees, institutional ownership, and managerial ownership on the firm value of Indonesian manufacturing companies, both before and during the COVID-19 pandemic. Employing a quantitative research design and associative research approach, our findings reveal a positive relationship between independent commissioners and firm value, supporting existing literature on the role of independent commissioners in enhancing corporate governance. Conversely, the analysis indicates a negative influence of audit committees on firm value, emphasizing the need for a balanced approach to their formation to avoid undue restrictions on managerial autonomy. The examination of institutional and managerial ownership’s effects on firm value yields inconclusive results, suggesting the need for further exploration. Additionally, our study evaluates the impact of the COVID-19 pandemic on firm value using a dummy variable and a t-test, revealing no significant change in values during the pandemic. The focus on the Indonesian manufacturing sector provides valuable context, suggesting potential sector-specific resilience to pandemic challenges. Overall, this research contributes nuanced insights into corporate governance dynamics and their resilience in the face of unprecedented global events.