PENGARUH KEPEMILIKAN ASING, KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DENGAN VARIABEL MODERASI KONEKSI POLITIK

Risya Fauzia Cahyaningtyas, Muhamad Agus Sudrajat, Juli Murwani

Abstract


The purpose of this study is to provide empirical evidence of foreign ownership, managerial ownership, institutional ownership, and financial performance on firm value with the political connection moderating variable. This research was conducted on all companies listed on the IDX for the 2015-2019 period, totaling 78 companies. The number of samples in this study was 78 with a total of 390 observations determined by purposive sampling. The analytical method used is multiple linear regression analysis with the SPSS 26 program analysis tool. The results of this study indicate that partially 1) Foreign ownership has a positive and significant influence on firm value 2) Managerial ownership has a significant negative effect on firm value 3). Institutional ownership has a significant negative effect on profit growth, 4) Financial performance has a significant and positive effect on firm value, 5) Political connections are able to moderate the effect of foreign ownership on firm value 6) Political connections are able to moderate the effect of managerial ownership on firm value 7 ) Political connection is not able to moderate the effect of institutional ownership on firm value and 8) Political connection is able to moderate the effect of financial performance on company value

Keywords: Foreign Ownership, Managerial Ownership, Institutional Ownership, Financial Performance, Firm Value and Political Connections


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