Pengaruh Aliran Kas Bebas terhadap Nilai Pemegang Saham dengan Set Kesempatan Investasi dan Dividen sebagai Variabel Moderator

Wardani, Rima Agustania Kusuma (2009) Pengaruh Aliran Kas Bebas terhadap Nilai Pemegang Saham dengan Set Kesempatan Investasi dan Dividen sebagai Variabel Moderator. Jurnal thesis, STIE YKPN.

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Abstract

This study examines the relationship between free cash flow and shareholder value moderated by contextual variables investment opportunity set and dividend. Corporate size is used as a control variable. Data in this study are manufacturing firms listed on the Indonesian Stock Exchange from 2002 to 2007. Moderated regression analysis is used in testing hypothesis. Five IOS individual proxies are used to measure a composite IOS proxy, these proxies are analyzed by common factor analysis. The proxies are market to book value of assets ratio (MBVA), market to book value of equity ratio (MBVE), price earnings ratio (PER), capital expenditure to book value of asset ratio (CEBVA), and capital expenditure to market value of asset ratio (CEMVA). The corporate dividend proxy is dividend yields. The results show that free cash flow significant positively correlated with shareholder, and investment opportunity set is moderator variable in the correlation between free cash flow and shareholder value, but dividend is not moderator variable in the correlation between free cash flow and shareholder value.

Item Type: Thesis (Jurnal)
Additional Information: Tesis dapat dibaca di Perpustakaan dengan call number WAR p 161/2009
Uncontrolled Keywords: free cash flow, shareholder value, investment opportunity set, dividend
Divisions: Program Pasca Sarjana > Jurnal Tesis Magister Akuntansi
Depositing User: Pustakawan STIE YKPN
Date Deposited: 30 Jul 2019 02:25
Last Modified: 30 Jul 2019 02:25
URI: http://repository.stieykpn.ac.id/id/eprint/454

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