ANALISIS KEPEMILIKAN SAHAM DAN BIAYA KEAGENAN TERHADAP NILAI PERUSAHAAN
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Date
2015-09-29
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Publisher
The 8th NCFB and Doctoral Colloquium, Fakultas Bisnis dan Pascasarjana Unika Widya Mandala Surabaya
Abstract
The research investigates the relationship and the effect of stock ownership that includes managerial ownership, institutional ownership, and public ownership and agency costs to the firm’s value as measured by Tobin's Q model. The research method used is descriptive and verificative method. This research applied descriptive and statistic method. Statistical analysis applied the Multiple Linear Regression and Correlation Analysis using t test and F test. The test of the classical assumption applied before the linear regression. The object of research are all the mining industry listed in BEI for the period 2009-2013 whose stocks are included in the category of LQ 45. The purposive sampling technique is used as a sampling method and as a result we have eight samples. The results and findings showed that managerial ownership have positive correlation with the firm’s value, but do not show significant effect to the firm’s value. Institutional ownership have positive correlation with the firm’s value, but do not show significant effect to the firm’s value. Public ownership have positive correlation with the firm’s value and have significant effect to the firm’s value. Agency costs have negative correlation with the firm’s value, but do not show significant effect to the firm’s value.
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Keywords
Managerial Ownership, Institutional Ownership, Public Ownership, Agency Costs, Firm’s Value