Pengaruh Employee Stock Ownership Program (ESOP) Terhadap Kinerja Keuangan dan Nilai Perusahaan dengan Struktur Modal dan Manajemen Laba sebagai Variabel Moderasi

Ratnaningsih, Uci (2019) Pengaruh Employee Stock Ownership Program (ESOP) Terhadap Kinerja Keuangan dan Nilai Perusahaan dengan Struktur Modal dan Manajemen Laba sebagai Variabel Moderasi. Jurnal thesis, STIE YKPN.

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Abstract

Company performance is the result of management activities of a company and as an important aspect that can be seen by investors. The company's performance is expected to increase due to the existence of an Employee Stock Ownership Program (ESOP) which is one way to reduce agency problems and can increase the sense of belonging of employees so that they are motivated to improve their performance. This study aims to determine the effect of ESOP on financial performance and company value. In addition, this study also aims to determine at the capital structure and earnings management as variables that moderates the effect of ESOP on financial performance and company value. The theory underlying this study is agency theory. This study was conducted at a manufacturing company listed on IDX in the period 2013-2017 using the purposive sampling method as a technique sampling and obtained a sample of 21 companies with a total of 46 data. Hypothesis testing is done by using the Structural Equation Model (SEM) of WarpPLS. The results showed that ESOP was influential positive for financial performance and company value. Capital structure has negative influence on the ESOP relationship and financial performance, but influential positive for the ESOP relationship and company value, while earnings management has negative influence on the relationship between ESOP and financial performance, but not affect the ESOP relationship and company value.

Item Type: Thesis (Jurnal)
Additional Information: Tesis dapat dibaca di Perpustakaan dengan call number RAT p 408/2019
Uncontrolled Keywords: agency theory, ESOP, financial performance, company value, capital structure, earnings management
Divisions: Program Pasca Sarjana > Jurnal Tesis Magister Akuntansi
Depositing User: Pustakawan STIE YKPN
Date Deposited: 03 Jul 2019 02:38
Last Modified: 03 Jul 2019 02:38
URI: http://repository.stieykpn.ac.id/id/eprint/176

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