PENGARUH GROWTH OPPORTUNITY, KEBIJAKAN HUTANG DANSTRUKTUR KEPEMILIKAN TERHADAP NILAI PERUSAHAAN

Abstract

Go public companies will pay more attention to the factors which can increase firm value. Firm value is the main
key to attract investor to invest their capital. Therefore, this research is meant to test the influence of growth
opportunity, debt policy, and ownership structure to the firm value. The population of this research is all
companies which are listed in Indonesia Stock Exchange (IDX). The samples are manufacturing companies
which are listed in Indonesia Stock Exchange in 2010-2014 periods. The samples have been taken by using
purposive sampling based on certain criteria. The data analysis technique has been carried out by using
descriptive analysis and multiple regressions analysis. The result of this research shows that growth opportunity
does not have any influence to the firm value. Because growth opportunity does not attach directly in financial
statement so that not all investors are able to read directly these growth opportunity in financial statement
which has been reported by the company. Debt policy does not have any significant influence to the firm value.
The managerial ownership structure does not have any influence to the firm value. Because not all companies
have managerial stock but these companies still produce well and capable to optimize their firm value. The
institutional ownership structure has significant influence to the firm value.

Keyword: Growth opportunity, debt policy, ownership structure, firm value