PENGARUH KEPEMILIKAN MANAJERIAL, UKURAN PERUSAHAAN DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

Abstract

The enhancement of firm value can be achieved when the company management can establish good cooperation
with other parties in the making of financial decisions which is known as other parties which include
shareholder and stakeholder. This research is aimed to examine the influence ofmanagerial ownership, firm size
and debt policy to the firm value of telecommunication companieswhich are listed in the IDX. The analysis
techniques which has been applied to analyze the influence of variables in this research are multiple regressions
analysis, and t test. The population is 5 telecommunications companies which are listed in Indonesia Stock
Exchange in 2011-2015 periods with 5 years of observation. The result of the research shows that (1)
Managerial ownership gives influence to the firm value which means that large management ownership will be
effective to supervise company activities; (2) firm size gives influence to the firm value which means that high
sales growth requires large support from company resources; (3) Debt policy gives influence to the firm value
which means that optimum debt level is reached when tax saving has reached its maximum amount to the cost
of financial distress.
Keywords: Managerial ownership, firm size, debt policy, firm value