EFEK KEPEMILIKAN INSTITUSIONAL, PROFITABILITAS, UKURAN PERUSAHAAN DAN PERTUMBUHAN PENJUALAN TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING (Studi Pada Perusahaan Manufaktur di BEI Tahun 2013-2017)

Abstract

ABSTRACT The purpose of this study was to examine the effect of institutional ownership, profitability, firm size and sales growth on firm value with capital structure as an intervening variable (study in Manufacturing Companies Listing on the Indonesia Stock Exchange from 2013 to 2017). The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange from 2013 to 2017. The samples in this study were manufacturing companies that were in accordance with established criteria. Multiple linear regression analysis was carried out based on the results of data analysis. The conclusions are as follows: Institutional ownership, profitability and firm size has a negative effect on capital structure. Sales growth do not affect on capital structure. Institutional ownership do not affect on firm value. Profitability, firm size and sales growth has a positive effect on firm value. Capital structure has a negative effect on firm value. Capital structure can mediate the influence of institutional ownership, profitability and firm size on firm value. Capital structure can not mediate the influence of sales growth on firm value. Key-words: institutional ownership, profitability, firm size, sales growth, capital structure and firm value