PENGARUH STRUKTUR MODAL DAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING (Studi Kasus Pada Perusahaan Sub Sektor Heavy Constructions & Civil Engineering Yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2014 – 2021)

Kurnia, Ma’ruffi (2023) PENGARUH STRUKTUR MODAL DAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING (Studi Kasus Pada Perusahaan Sub Sektor Heavy Constructions & Civil Engineering Yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2014 – 2021). S2 thesis, Universitas Mercu Buana - Menteng.

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Abstract

This research aims to analyze the influence of capital structure and Good Corporate Governance on company value with profitability as an intervening variable. The population of this research is the Heavy Constructions & Civil Engineering sub-sector companies that are registered in the Indonesia Stock Exchange during the period 2014-2021, with a total sample of 10 companies. The data were analyzed using panel data regression analysis which was processed using EViews 10 Software. The research found that capital structure proxied by DER and GCG proxied by institutional ownership had a significant positive effect on profitability proxied by ROE. In addition, GCG and profitability have a significant positive effect on firm value which is proxied by stock returns. Nevertheless, the capital structure has no effect on firm value. Regarding the intervening variable, the research found that profitability proxied by ROE is not able to mediate the influence of GCG on firm value. However, profitability is able to mediate the effect of capital structure on firm value. Keywords: Capital Structure, GCG, Profitability, Company Value. Penelitian ini bertujuan untuk menganalisis pengaruh struktur modal dan Good Corporate Governance terhadap nilai perusahaan dengan profitabilitas sebagai variabel intervening. Populasi dari penelitian ini adalah perusahaan sub sektor Heavy Constructions & Civil Engineering yang terdaftar di Bursa Efek Indonesia selama periode Tahun 2014-2021, dengan jumlah sampel sebanyak 10 perusahaan. Data dianalisis menggunakan metode analisis regresi data panel yang diolah menggunakan perangkat lunak EViews 10. Hasil penelitian menemukan bahwa struktur modal yang diproksikan dengan DER dan GCG yang diproksikan dengan kepemilikan institusional berpengaruh positif signifikan terhadap profitabilitas yang diproksikan dengan ROE. Selain itu, GCG dan profitabilitas berpengaruh positif signifikan terhadap nilai perusahaan yang diproksikan dengan stock return. Namun demikian, struktur modal tidak berpengaruh terhadap nilai perusahaan. Berkaitan dengan variabel mediasi, hasil penelitian menemukan bahwa profitabilitas yang diproksikan dengan ROE tidak dapat memediasi pengaruh GCG terhadap nilai perusahaan. Akan tetapi, profitabilitas dapat memediasi pengaruh struktur modal terhadap nilai perusahaan. Kata Kunci: Struktur Modal, GCG, Profitabilitas, Nilai Perusahaan.

Item Type: Thesis (S2)
NIM/NIDN Creators: 55121110107
Uncontrolled Keywords: Struktur Modal, GCG, Profitabilitas, Nilai Perusahaan.
Subjects: 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum
Divisions: Pascasarjana > Magister Manajemen
Depositing User: MELATI CAHYA FITRIANI
Date Deposited: 06 Sep 2023 07:22
Last Modified: 06 Sep 2023 07:22
URI: http://repository.mercubuana.ac.id/id/eprint/80429

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