ANALISIS PENGARUH WEIGHTED COST OF CAPITAL (WACC) DAN PENERAPAN GOOD CORPORATE GOVERNANCE (GCG)TERHADAP HARGA SAHAM DAN PERUBAHAN LABA PERUSAHAAN DALAM DAFTAR CGPI YANG DITERBITKAN IICG DAN TERDAFTAR DI BEI PERIODE 2004-2012
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Date
2014
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Universitas Widyatama
Abstract
In 2004, crisis influnced many companies to start focusing on the implementation of corporate governance. It improves credibility, business performance, and creates positive work environment. Disclosure is one of elements in implementing corporate governance that effects the profit. Cost of capital can be used for determining an investment proposal. The cost of capital, suitable for all decisions, is an average of all captital components of Weighted Average Cost of Capital (WACC).The research is aimed for examining the effect of Weighted Cost of Capital (WACC) variable and the application of Good Corporate Governance (GCG) towardstock prices and profit changes. Descriptive and verification methods were utilized in the research. Population involved in the reserach was companieson list of CGPI thatwere published by IICG and they were registered in BEI 2004-2012. Utilizing purpose sampling, samples were 14 companies.Multiple linear regresion was utilized as analysis technique. Inaddition, hyphothesis testing utilized t-statistic to examine partial regression coefficient and F-statistik to examine simultaneously the effects with a level of 5% that had previously been done the classical assumption test.Based on the result of research, X variable (WACC/X1 dan GCG/X2)did not effect Y variable (stock prices/Y1 and profit changes/Y2).
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Keywords
WACC, GCG, Harga Saham, Perubahan Laba, IICG, CGPI, Stock Prices, Profit Changes