ABSTRAK
Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh Kinerja Keuangan (Leverage, Return On Asset, Return On Equity) terhadap Nilai Perusahaan. Penelitian ini juga menguji pengaruh moderasi Good Corporate Governance (Kepemilikan Manajerial dan Kepemilikan Institusional) terhadap hubungan Kinerja Keuangan (Leverage, Return On Asset, Return On Equity) dengan Nilai Perusahaan.Jenis penelitian ini adalah penelitian kausal komparatif. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia padaperiode 2010-2013sejumlah136 perusahaan. Teknik pengambilan sampel yang digunakan adalah purposive sampling berdasarkan kriteria tertentu.Berdasarkan kriteria tersebut, diperoleh jumlah sampel 33 perusahaan. Pengujian data penelitian menggunakan analisis regresi linier berganda dan uji residual untuk variabel moderating. Hasil penelitian menunjukkanKinerja Keuangan (Leverage, Return On Asset, Return On Equity) berpengaruh nyata terhadap Nilai Perusahaansecara simultan. Sedangkan secara parsial Leverage, dan Return On Asset berpengaruh positif terhadap Nilai Perusahaan dan Return On Equity berpengaruh secara negatif terhadap Nilai Perusahaan. Untuk variabel moderating yaitu Good Corporate Governance
(Kepemilikan Manajerial, dan Kepemilikan Institusional) tidak mampu memoderasi hubungan Kinerja Keuangan (Leverage, Return On Asset, Return On Equity) dengan Nilai Perusahaan.
Kata kunci: kinerja keuangan, leverage, return on asset, return on equity, good corporate governance, kepemilikan manajerial dan kepemilikan institusional
ABSTRACT
This study aims to examine and analyze the effect of Financial Performance (Leverage, Return on Assets, Return on Equity) against the Company Values Manufacturing Companies Listed in Indonesia Stock Exchange. This study also examines the effect of moderating Good Corporate Governance (Managerial Ownership and Institutional Ownership) in relation to financial performance (Leverage, Return on Assets, Return on Equity) Rated Company in Manufacturing Companies Listed in Indonesia Stock Exchange. This research is a causal research. Populations in this research are manufacturing companies listed in Indonesia Stock Exchange in the period 2010-2013 from 136 companies. The sampling technique used was purposive sampling based on a certain criteria. Based on these criteria, the number of observations obtained with total of 132 units of analysis. Based on that sample analysis, we found 33 companies for 4 years period. Based ondata research by using multiple linear regression analysis and residual test for moderating variables. Financial performance (Leverage, Return on Assets, Return on Equity) against the Company Value are most significant by simultaneously. While partially research Leverage, and Return On Asset are positive effect on the value of the Company and Return On Equity negatively affect to the company value. For moderating variables that Good Corporate Governance (Managerial Ownership and Institutional Ownership) cannot moderate the relationship of Financial Performance (Leverage, Return on Assets, Return on Equity) towards the corporate value.
Keywords: Financial Performance, Leverage, Return on Assets, Return on Equity, GoodCorporate Governance and Ownership, Managerial Ownership Institutional
