ANALISIS PENGARUH MANAGERIAL EQUITY OWNERSHIP TERHADAP PROFITABILITAS DAN ASSET UTILIZATION DENGAN INSTITUTIONAL OWNERSHIP, UKURAN PERUSAHAAN, UMUR PERUSAHAAN DAN LEVERAGE SEBAGAI VARIABEL KONTROL (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia Periode 2009-2012)

Abstract

The purpose of this study is to examine the effect of managerial equity ownership for profitability and asset utilization. The dependent variable in this study is managerial equity ownership that categorized based on quantity there are, 0-5%, 5-25% and >25%. Meanwhile the indpendent variables is profitability and asset utilization. This study also institutional ownership, firm size, firm age and leverage as control variables. This study uses secondary data from annual report of listed manufacture companies with listing on the Indonesia Stock Exchange in 2009-2012. The total of the sample is 24 companies. This study uses two models with multivariate regression analysis method. The results of this study shows managerial equity ownership level 5-25% have negative and significant affect to profitability and at level >25% managerial equity ownership haven’t significant affect. Institutional ownership, firm size, firm age not affect for profitability, but leverage affect profitability negatively. For asset utilization managerial equity ownership level 5%-25% and >25% haven’t have significant affect. Also all the control variables haven’t affect asset utilization except firm size that have negative affect to asset utilization.