PENGARUH DEBT TO EQUITY RATIO, CAPITAL EXPENDITURE DAN ASSET TANGIBILITY TERHADAP NILAI PERUSAHAAN DENGAN MEDIASI PROFITABILITAS

Abstract

This study based to reality that gap fluctuation of company performance at Indonesian Stock Exchange was gap phenomena. Phenomena gap has inconsistency that influence capital structure, capital expenditure and tangibility asset on profitability to impact company value. Aim of this study to analyze capital structure, capital expenditure, and tangibility asset toward profitability to impact company value in manufacturing industry over period 2010-2013. Sampling technique used here is pusposive sampling with criteria: (1) manufacturing company listed at Indonesian Capital Market Directory over period 2010-2013, (2) manufacturing company share annual repport over period 2010-2013; and (3) manufacturing company has earning over period 2010-2013. The data was taken Indonesian Capital Market Directory (ICMD). It is gained sample amount of 15 data. The analysis technique used here is regression analysis. The result shows capital structure and tangibility asset, to have influence toward profitability at level of significance less than 5%, capital expenditure have influence toward company value at level of significance less than 5%. Managerial implication, manufacturing company must give priority to capex to improve company value.