PENGARUH STRUKTUR KEPEMILIKAN, EARLY WARNING SYSTEM KINERJA DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research is meant to test and to analyze the ownership structure, early warning system of performance, and profitability ratio to the firm value of insurance companies which are listed in Indonesia Stock Exchange from 2008 to 2014. By using independent variable, Managerial Ownership Structure Ratio (SKM), Institutional Ownership Structure Ratio (SKI), Claim Burden Ratio (RBK), Liquidity Ratio (RLD), Agent’s Balance to Surplus (RAB), Premium Growth Ratio (RPP), and Return on Assets (ROA). The result of this research shows that Managerial Ownership Structure Ratio (SKM), Liquidity Ratio (RLD), Agent’s Balance to Surplus (RAB), Premium Growth Ratio (RPP), and Return on Assets (ROA) have influence to the firm value, meanwhile the Institutional Ownership Structure Ratio (SKI), Liquidity Ratio (RLD), and Premium Growth Ratio (RPP) does not have any influence to the firm value. The multiple linear regressions models of this research have adjusted value R2 is 0.50 which means that 50% of firm value can be explained by the Managerial Ownership Structure Ratio (SKM), Institutional Ownership Structure Ratio (SKI), Claim Burden’s Ratio (RBK), Liquidity Ratio (RLD), Agent’s Balance To Surplus (RAB), Premium Growth Ratio (RPP), and Return On Assets (ROA) variables whereas the remaining is 50% is influenced by the other variables outside of the research model.
Keywords : Insurance Company, Tobins Q, Ownership Structure, Early Warning System, Profitability.