FAKTOR-FAKTOR YANG MEMENGARUHI NILAI PERUSAHAAN SEKTOR MINING YANG TERDAFTAR DI BEI TAHUN 2012-2017

ENGGARWATI EKA APRILIANA

Abstract


Maximizing value for company is very essential, because it will automatically increase prosperity for shareholders. The purpose was to examine effects of boards size, independence, CSR, multinationality, ownership power, and leverage on value of mining corporates that registered in Indonesia Stock Exchange in 2012-2017. This research uses a type of causal research. The sample used was 15 companies with purposive sampling methods. Analysis technique that used was multiple linear regressions analysis including the classical assumption tests, and hypothesis test with SPSS version 18. Outcome of the regression analysis indicate that board size and CSR do not affects value of company. An optimal number of boards directors can be more effective in controlling management performance. Quantitatively, the number boards directors in this study is optimal. But in quality, the large number of directors will put a burden on the company. Disclosure of CSR in mining companies is not maximally calculated using the GRI Index. Mining companies have not revealed all items based on indicators. Independence, multinationality, ownership power, and leverage significantly influence firm’s value. The existence of Independence maximizes the firm’s operational oversight and minimizes fraud in the company. Multinationality which is seen from the mining companys export activities gives a negative signal to investors. The higher mining companys foreign sales will reduce firm’s value. Mining companies with CEOs who have a high percentage of share ownership will increase firm’s value. The use of debt as a high source of corporates finance can reduce value of company. Leverage is a negative signal for investors because companies can fail to pay off debt in the future. This shows that independence, multinationality, ownership power, and leverage are important to be considered by investors before buying shares in mining sector companies as a form of investment.Keywords: board size; firm value; independence; multinationality; ownership power.

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