Path: Top Journal Jurnal_Keuangan_dan_Perbankan 2010

MEKANISME BONDING DAN NILAI PERUSAHAAN

Jurnal Keuangan dan Perbankan, Volume 14, Nomor 3, September 2010
Journal from JIPTUNMERPP / 2012-01-26 01:54:37
Oleh : M. Budi Widiyo Iryanto ; Sugeng Wahyudi, Diploma 3 of Finance and Banking Merdeka University Malang (jurkubank@yahoo.com)
Dibuat : 2010-09-01, dengan file

Keyword : Mechanism of bonding, equity agency costs, agency costs of debt, firm value, agency theory, contingency theory.

This study aimed to analyze the role of agency costs mediating the relationship between the mechanism of bonding and the company values, and analyze the role of the corporate environment moderating the relationship between the mechanism of bonding and the value of the company. Industrial sector non-financial companies listed on the Indonesia Stock Exchange as an object of research for the period 2006-2008. Based on purposive sampling method, it obtained samples of 46 companies or 138 units of analysis. Completion estimated path model approach Partial Least Square (PLS) through Smart PLS software version 2.0 M3. The findings of this study are the remuneration as a bonding mechanism had a significant positive effect on firm value. Equity agency costs mediated the influence of bonding mechanisms of corporate value, while the agency costs of debt did not mediate the effect of bonding mechanism to value the company. It moderated the relationship between corporate environmental and bonding mechanism to value the company. Finally, the study found evidence of practices of public companies control agency problem in Indonesia supported the integration of contingency theory and agency theory.

Deskripsi Alternatif :

This study aimed to analyze the role of agency costs mediating the relationship between the mechanism of bonding and the company values, and analyze the role of the corporate environment moderating the relationship between the mechanism of bonding and the value of the company. Industrial sector non-financial companies listed on the Indonesia Stock Exchange as an object of research for the period 2006-2008. Based on purposive sampling method, it obtained samples of 46 companies or 138 units of analysis. Completion estimated path model approach Partial Least Square (PLS) through Smart PLS software version 2.0 M3. The findings of this study are the remuneration as a bonding mechanism had a significant positive effect on firm value. Equity agency costs mediated the influence of bonding mechanisms of corporate value, while the agency costs of debt did not mediate the effect of bonding mechanism to value the company. It moderated the relationship between corporate environmental and bonding mechanism to value the company. Finally, the study found evidence of practices of public companies control agency problem in Indonesia supported the integration of contingency theory and agency theory.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiD
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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  • Editor: Wiwik Supriyanti, Dra. SS.