Bank of Indonesia stated that Indonesia becomes the second favorite country for investment after China. In addition, The IndonesiaStockExchange(or Bursa Efek Indonesia (BEI)) as the stockexchange which becomes the benchmark of Indonesia's capital market has 525 issuers in February 2016 and has increased to 539 issuers in January 2017. The number of foreign-listed companies registered in 2013 is 94 companies and has increased to 103 companies by 2015. This illustrates that the field of investment in Indonesia has been in the spotlight from within the country and abroad, and already many national companies that can be a place to invest the investors. In addition, shareholders require information to determine the value of securities for decision making on purchase of stock. The main role of accounting is to provide information required by users such as evaluation of firms (Hashemi dan Akhlaghi, 2011). The Indonesian Assessment Standards (Standar Penilaian Indonesia or SPI) states that the valuation is the work process to provide an estimate and income on the economic value of an assessment object at certain times in accordance with the SPI and applicable regulations, while the assessor is a person who has the qualifications, skills and experience in conducting the valuation practice to obtain an economic value in accordance with the area of expertise held (SPI-KEPI 3.7.1 and 3.7.2).
Tax aggressiveness by taxpayers will have an impact on state revenue comes from taxes. Not achieving the 2012/2013 State Budget was indicated by the aggressiveness of tax made by the company or the taxpayer. One was conducted by PT Asian Agri Group as one of the parent company in the Group Raja Garuda Mas belonged to Tanoto, Tanoto is the richest family in Indonesia with the amount of wealth reached US $ 2.8 billion, or around 25.5 trillion rupiahs. In addition to PT Asian Agri Group, there are other companies that are under the auspices of the Raja Garuda Mas Group, including the Asia Pacific Resources International Holding Limited, Indorayon, PEC Tech, and others. Based on the investigation results of the Commission, it was found that the occurrence of tax evasion in the form of evasion of Value Added Tax (VAT) and Income Tax (PPh), deviation recording transactions and inflate the company’s costs, boost the loss of export transactions and discouraging the sale, on wiping the tax alleged financial harm state most companies in developing countries are still controlled by family ownership, including most of the companies in Indonesia. The family company plays an important role in providing economic stability. A family business is regarded as a family business if the people involved in the business are still largely tied up in the family line. The main strength of a family business is the strength of kinship that is supported by good communications to run the family business. An organization called the family company when there are at least two generations of family involvement and their influence corporate policies (Chen, 2007) to USD, 1.3 trillion (Tempo, 2012).
The establishment of a company has a clear purpose. The company's first goal is to achieve the maximum profit or profit the most. The purpose of the second company is to memakmurkan the owner of the company or the owners of the shares. The purpose of the third company is maximizing the value of the company which is reflected in its stock price. The third purpose of the company is in fact substantially is not much different. According to Rahayu (2010) States, the value of the company is a value to measure the level of quality of the companyand a value that describes how large the interest rate a company in the eyes of its customers. Corporate values reflect the value of assets owned by companies such as securities. The stock is one of the securities issued by the company's low stock price is high, much influenced by the issuers. One of the factors that affect stock prices is the ability of companies to pay dividends.
We found there are a mismatch results in several studies described before, some studies state that institutional ownership has a positive relationship to the value of the company, while others stated that institutional ownership has a negative effect on the value of the companyand there are also found that institutional ownership has no significant effect on the value of the company. So that further research is necessary to provide empirical evidence about the effect of institutional ownership on company’s value. The title of this research is, “ The Effect of Institutional Ownership On Value of The Company Study Of Manufacturing Company Listed in IndonesiaStockExchange Year 2010-2014 ”.
Praise the Lord, Jesus Christ, for His blessed, loved, and strength that already given to me to finished my thesis. And also Holy Mother Mary who always prayed me to her Son for finished my study through this time. I would like to thank you for my people around me that God gave to me who always help, support, pray, and give all their love to me until I’ve done this thesis. By this opportunity, I would like to appreciate all people around me who already give me full of meaningful lifetime until I finished my thesis, to:
This document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of Indosat, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause actual events and Indosat's future results to be materially different than expected or indicated by such statements. No assurance can be given that the results anticipated by Indosat, or indicated by any such forward looking statements, will be achieved.
The high blockholder ownership propor- tion has a greater role for management to op- timize the companyvalue. However, at a cer- tain level, it can cause any deviation man- agement actions, which ultimately harm the minority shareholders (Morck et al. 1988; Shleifer and Vishny 1997). Researchers who have studied the effect blockholder on com- pany value are Prowse (1993), Vera-Minguez & Ugedo-Martin (2007). They found the re- sults for countries that have implemented good governance principles, characterized by mechanism controlling legal system of own- ership, blockholder effects tend to be nega- tive. This finding is very different from the results of Driffield et al. (2007), and then studied again in Indonesia context by Sujono (2010).
Efficient Market Hypothesis (EMH) is when new information is very rapidly processed so that securities are properly priced at any given time. Efficient Market Hypothesis assumes that information travels in a random independent way and that prices are an unbiased reflection of all currently available information (Hirt and Block, 2006). Efficient capital market can be seen if security price adjust rapidly to the infusion of new information, and, therefore, current security prices fully reflect all available information (Reilly and Brown, 2005). Cumulative levels of market efficiency and the information associated with each of three classifications were introduced by Fama in 1970 (Jones, 2010), such as weak form, semistrong form, and strong form.
Kuala Lumpur Stockexchange dan IndonesiaStockExchange merupakan suatu pasar modal yang telah berkembang di Bursa Efek dalam Asia Tenggara, peneliti tertarik untuk membuktikan anomali pergerakan harga saham dalam kedua negara tersebut.
I realize that this thesis is still far from perfect because of the limitation on my knowledge, ability, and experience. Therefore, I would be glad to accept advice and critics to this thesis. Last, I hope this thesis can be useful for someone who related to this research.
Several highly sought after agreements to screen popular international programs/events like Disney ABC, FOX, Warner Bros, Nickelodeon, 2010 FIFA World Cup, Formula 1, UEFA Euro, Barclays Premier League, Indonesian Premier League and 26 th Sea Games Indonesia 2011 (all programs are exclusive to
ABSTRACT: In this research was discussed about a multivariate model for predicting the efficiency of the financial performance insurance companies. Multivariate models which used are discriminant model and logistic regression model. Changing net profit is based for grouping data to two categories because of profit is often to used as an indicator of measurement performance company. The predictive variables are represented as 7 financial ratios. A multivariate model is obtained by comparing the results of discriminant analysis and logistic regression analysis. Five of seven financial ratios are significantly influence for predicting the efficiency of the financial performance insurance companies.
estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the companyand its directors. No assurance can be given that future events will occur, that projections will be achieved, or that the company's assumptions are correct. Actual results may differ materially from those forecast and projected.
perusahaan merupakan ukuran meningkatnya kesejahteraan pemilik perusahaan atau meningkatnya kekayaan pemilik perusahaan. Pengukuran nilai perusahaan dapat dilakukan dengan melihat perkembangan harga saham, apabila harga saham dipasar mengalami kenaikan, maka nilai perusahaan meningkat, karena nilai perusahaan pada dasarnya adalah harga pasar dari saham ditambah dengan harga pasar obligasi. Meningkatnya harga saham merupakan cerminan kepercayaan masyarakat terhadap perusahaan meningkat, sehingga mereka bersedia membayar dengan lebih tinggi ukuran nilai perusahaan yang sering digunakan dalam penelitian adalah Tobin’s q ( Al- Khouri et al,2004) nilai ini didifinisikan sebagai jumlah Nilai pasar utang dan ekuitas dibagi dengan nilai buku total aset. Nilai pasar utang relatif tidak berubah sepanjang waktu sedangkan nilai saham berfluktuatif sepanjang waktu. Lindenberg dan Ross (1981), Rene, M. (2000) merumuskan secara terperinci bahwa q merupakan nilai pasar modal sendiri (market value of equity ) E, ditambah utang (Debt) D, dibagi dengan assets (A) atau dirumuskan sbb = (E + D)/ A.
This research focus on manufacturing companies listed in IndonesiaStockExchange for the period of 2008 until 2011. The research data collected from companies financial statement and the closing share price at the end of fiscal year from Yahoo! Finance. with purposive sampling method, the researcher obtained 316 observations.
Penelitian ini bertujuan untuk menganalisis pengaruh arus kas, pengeluaran dan nilai perusahaan terhadap cash holding. Model penelitian ini dianalisis dengan Fixed Effect Methode (FEM). Populasi perusahaan penambangan penelitian ini terdaftar Bursa Efek Indonesia. Penelitian ini menggunakan metode purposive sampling. Sampel dalam penelitian ini adalah 27 perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia dari tahun 2012-2015. Penelitian ini menggunakan data panel, data yang digunakan dalam penelitian ini berasal dari laporan keuangan tahunan dan laporan keberlanjutan perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia untuk periode 2012-2015. Hasilnya menunjukkan bahwa arus kas dan pengeluaran tidak signifikan positif dalam memegang uang tunai, sementara nilai perusahaan secara signifikan negatif pada perusahaan holding tunai.
There is a significant information asymmetry between issuers and investor at the IPO. Rao (1993) stated that there was no news about issuing firms in the media until one year before the issue date. In the case of IPO’s, usually there is little information about the private firm that is available to the public. Investor has to rely primarily on the financial statements in the prospectus, which it gives the issuers and the underwriters can incentive to report favorable accounting numbers. This leads to the IPO firms have to improve in profitability after the offering. Therefore, it is necessary to analyze the stock performance and the company’s operating performance before and after going public in order to know whether going public is an interest issue to investors and whether going public could increase the company’s operating performance. Results of these comparisons can evaluate the success of the company after going public.
Saham (stock) merupakan salah satu instrumen pasar keuangan yang paling popular. Menerbitkan saham merupakan salah satu pilihan perusahaan ketika memutuskan untuk pendanaan perusahaan. Pada sisi yang lain, saham merupakan instrumen investasi yang banyak dipilih para investor karena saham mampu memberikan tingkat keuntungan yang menarik. Saham dapat didefinisikan sebagai tanda penyertaan modal seseorang atau pihak (badan usaha) dalam suatu perusahaan atau perseroan terbatas. Dengan menyertakan modal tersebut, maka pihak tersebut memiliki klaim atas pendapatan perusahaan, klaim atas asset perusahaan, dan berhak hadir dalam Rapat Umum Pemegang Saham (RUPS).
George and Jones (2005:80) menyatakan bahwa kepuasan kerja adalah sekumpulan perasaan dan kepercayaan yang dimiliki seseorang tentang pekerjaan yang sedang dijalani. Kepuasan kerja mempunyai kekuatan untuk mempengaruhi secara meluas dari perilaku dalam organisasi dan berkontribusi pada level kepuasan kerja pekerja. Pierce and Gardner (2002:192) menyatakan “Kepuasan kerja adalah refleksi dari gap antara apa yang diinginkan dari kerja (berharga) dan apa yang diterima dari pekerjaan. Kepuasan kerja secara keseluruhan (kadang disebut kepuasan kerja umum) menerangkan reaksi yang mempengaruhi seseorang secara keseluruhan ke dalam serangkaian kerja dan faktor yang berhubungan dengan kerja. Kepuasan kerja keseluruhan adalah kombinasi dari faktor kepuasan kerja. Robbins (2001:148) kepuasan kerja dapat diukur melalui beberapa kriteria diantaranya sifat dasar pekerjaan, penyeliaan, upah, kesempatan promosi, dan hubungan dengan rekan kerja. Sementara Luthans (2002:431) mengemukakan bahwa kepuasan kerja dapat diukur dengan pembayaran seperti gaji atau upah, pekerjaan itu sendiri, rekan kerja, promosi pekerjaan dan penyelia.
Previously held several important positions as Finance Director PT MNC Kabel Mediacom (September 2014- Maret 2015), Sales & Marketing Director of RCTI (2013 –2014), Sales & Marketing Director of PT Cipta TPI (MNC TV) (2010 – 2013), Programming & Production Director of PT Cipta TPI (MNC TV) (2009 – 2010) and Finance & Technology Director of PT Cipta TPI (MNC TV) (2008 - 2009).