PENGARUH STRUKTUR KEPEMILIKAN MANAJERIAL, PROFITABILITAS DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of managerial ownership structure, profitability, and investment
decision on the firm value. While, the population was manufacturing companies which were listed on Indonesia
Stock Exchange 2015-2017. The research was quantitative. Moreover, the data collection technique used
purposive sampling with 5 criteria given. In line with, there were 23 manufacturing companies as sample which
listed on Indonesia Stock Exchange, with 69 observations in 3 years. Furthermore, the data analysis technique
used multiple linier regression with SPSS (Statistical Product and Service Solutions) 23.0. The research result
concluded managerial ownership structure did not affect the firm value. Meanwhile, profitability as well as
investment decision had positive and significant, effect on the firm value. In brief, the result had supported all
hypothesis which had been formulated in this research. The background of this study is inside of a company there
is a conflict between shareholders and management where management cannot always fulfill the wishes of
investors. It caused investors do not believe in the performance of management and decide to release the shares
that make the company's value decline.
Keywords: managerial ownership structure, profitability, investment decision, firm value.