STRUKTUR KEPEMILIKAN, STRUKTUR MODAL, NILAI PERUSAHAAN: KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING

Abstract

This research aims to examine the influence of the ownership structure and capital structure on the company value with financial performance as variable intervening through the financial statements that prepared by property companies, real estate and building construction which is listed in Indonesia Stock Exchange. The population in this research is obtained by using purposive sampling method at property company, real estate and building construction which is listed in Indonesia Stock Exchange (BEI) during 2012-2016 period and based on criteria. That been used in this research is all the criteria that has been determined then obtained the sample as many as 13 property companies, real estate and building construction The method of analysis used is multiple linear analysis with using SPSS. The results showed that the capital structure had a positive influence on the company value. Financial performance has a positive influence on the company value. While the variable of institutional ownership and managerial ownership have no significant influence to the financial performance and company value. Simultaneously, independent variables have a significant influence on the variable intervening that is ROA. While the independent variable has a significant influence on the dependent variable (PBV).
Keywords: Structure of ownership, capital structure, financial performance, company value