Political Connection, Ceo Gender, Kinerja Keuangan, Dan Struktur Modal Sebagai Penentu Nilai Perusahaan

Authors

  • Erma Wulansari Universitas PGRI Madiun
  • Ahmad Nur Aziz Universitas PGRI Madiun

Keywords:

Company Value, Political Connection, CEO Gender, Financial Performance, Capital Structure

Abstract

This study aims to test the influence of Political Connection, CEO Gender, Financial Performance, and Capital Structure on the value of the company. The dependent variables in this study are Corporate Value, while the independent variables are Political Connection, CEO Gender, Financial Performance, and Capital Structure. The population in this study is banking companies registered in IDX in the period 2015-2018. The total sampling of companies amounted to 128 companies. Data analysis techniques using Multiple Linear Regression analysis with SPSS 25. Based on the results of the hypothesis test shows Political Connection negatively affects the value of the company means that the higher the company politically connected, the lower the value of a company, CEO Gender has no effect on the value of the company, the difference of CEOs in the company either led by men or women does not affect the value of the company. The capital structure negatively affects the value of the company means that the higher the der value shows that the company cannot make enough money to meet its debt obligations, so the value of the company is seen as less good in the eyes of investors. Financial Performance positively affects the value of the company means that the higher the ROA value, the better the company's performance generates profit so that the better the value of the company in the eyes of investors.

References

Alexandri, M. B. (2009). Manajemen Keuangan Bisnis Teori dan Soal. Alfabeta. April, P., & Akuntansi, J. R. (2018). Pengaruh Kinerja Keuangan Terhadap Nilai

Perusahaan Yang Dimoderasi Oleh Corporate Sosial Responsibility (Csr) Dan

Good Corporate Governance (Gcg). Jurnal Riset Akuntansi Dan Keuangan,

(1), 11–24. https://doi.org/10.17509/jrak.v6i1.10225

Aras, G., & Crowther, D. (2008). Governance and sustainability: An investigation into the relationship between corporate governance and corporate sustainability. Management Decision, 46(3), 433–448. https://doi.org/10.1108/00251740810863870

Astuti, E. P. (2017). Pengaruh Diversitas Dewan Direksi terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode

-2011. KREATIF : Jurnal Ilmiah Prodi Manajemen Universitas

Pamulang, 4(2), 159–179.

Brigham. Eugene F, dan J. F. H. (2010). Dasar –Dasar Manajemen Keuangan

Edisi Kesebelas. Dialih bahasakan oleh Ali Akbar. Salemba Empat.

Butje, S., & Tjondro, E. (2014). Pengaruh Karakteristik Eksekutif dan Koneksi

Politik Terhadap Tax Avoidance. Tax & Accounting Review, 4(2), 1–9.

D’Ewart, B. H. (2015). The Effect of CEO Gender , Age , and Salary On Firm

Value. 1–29. http://scholarship.claremont.edu/cmc_theses/1059

Edy Susanto. (2016). Pengaruh profitabilitas, kepemilikan manajerial, dan pertumbuhan perusahaan (Growth) terhadap struktur modal dan nilai perusahaan. Jurnal STIE Semarang, 8.

Faccio, M. (2006). Differences Between Politically Connected And NonConnected Firms : A Cross Country Analysis. Krannert Graduate School of Management Purdue University.

Fan, J.P.H., Wong, T.J., Zhang, T. (2007). Politically connected CEOs, corporate governance and Post-IPO performance of China’s newly partially privatized firms. Journal of Financial Economics, 84(2), 330–357.

Hamdani, Y., & Hatane, S. E. (2015). Pengaruh Wanita Dewan Direksi terhadap Firm Value melalui Firm Performance sebagai Variabel Intervening. Akuntansi Bisnis Universitas Kristen Petra, 121–132.

Harmono. (2009). Manajemen Keuangan Berbasis Balanced Scorecard

(Pendekatan Teori, Kasus, dan Riset Bisnis). Bumi Aksara.

Hery. (2015). Analisis Kinerja Manajemen (Cetakan Pe). PT Grasindo.

Husnan, S. (2001). Corporate Governance and Funding Decisions: Comparison of Company Performance with Controlling Shareholders of Multinational and Non-Multinational Companies. Journal of Accounting, Management, Economics Research, 1(1), 1–12.

Jumingan. (2006). Analisis Laporan Keuangan. PT. Bumi Aksara.

Kartika, A. (2016). Pengaruh profitabilitas, struktur aset, pertumbuhan penjualan dan ukuran perusahaan terhadap struktur modal perusahaan manufaktur di Bursa Efek Indonesia. Jurnal Infokam, 12(1), 49–58. http://amikjtc.com/jurnal/index.php/jurnal/article/view/99

Kartikarini, N., & Mutmainah, S. (2013). Analisis Pengaruh Diversitas Gender Terhadap Voluntary Corporate Governance Disclosure Dalam Laporan Tahunan Perusahaan. Diponegoro Journal of Accounting, 0(0), 200–214.

Kholis, N., Sumarmawati, E. D., & Mutmainah, H. (2018). Factors that influence

value of the company. Jurnal Analisis Bisnis Ekonomi, 16(1), 19–25. http://journal.ummgl.ac.id/index.php/bisnisekonomi/article/download/2127/1

Kristina, I. G. A. R., & Wiratmaja, I. D. N. (2018). Pengaruh Board Diversity dan Intellectual Capital pada Nilai Perusahaan. E-Jurnal Akuntansi, 22, 2313. https://doi.org/10.24843/eja.2018.v22.i03.p25

Melewar, T. . (2008). Signalling Theory (Teori Persinyalan). Online. http://jea.ppj.unp.ac.id/index.php/jea/article/view/210/163

Naharin, N. (2017). Subordinasi Perempuan Dalam Organisasi (Organisasi Mahasiswa Iain Tulungagung Tahun 2015). In Martabat: Jurnal Perempuan dan Anak (Vol. 1, Issue 1). https://doi.org/10.21274/martabat.2017.1.1.175-

Parhusip, H., Topowijono, T., & Sulasmiyati, S. (2016). Pengaruh Struktur Modal Dan Profitabilitas Terhadap Nilai Perusahaan (Studi pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2011-

. Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 37(2), 163–172. Purwanti, S. M., & Sugiyarti, L. (2017). Pengaruh Intensitas Aset Tetap, Pertumbuhan Penjualan dan Koneksi Politik Terhadap Tax Avoidance. Jurnal

Riset Akuntansi & Keuangan, 5(3), 1625–1641.

Ramdania, L. D., Yulia, E., & Leon, F. M. (2020). Jurnal Wacana Ekonomi Pengaruh Gender Diversity Dewan Direksi dan CEO terhadap Nilai Perusahaan Sektor Property , Real Estate dan. Jurnal Wacana Ekonomi, Vol

(2. P-ISSN : 1412-5897; E-ISSN : 2715-517X), 24–37.

Ross, Stephen A., Randolph W. Westerfield, and B. D. J. (2008). Corporate

Finance Fundamental. (Eighth Edi). McGraw-Hill Companies.

Septriana, I., & Mahaeswari, H. F. (2019). Pengaruh Likuiditas , Firm Size , dan

Profitabilitas Terhadap Nilai Perusahaan. Jurnal Akuntansi Indonesia, 8(2),

–123.

Shleifier, A. & R. W. V. (1994). Politicians and Firms. Quarterly Journal of

Economics, 109, 995–1025.

Sudana, I. M. (2011). Manajemen Keuangan Perusahaan Teori Dan Praktik.

Erlangga.

Sugiyono. (2011). Metode Penelitian Kuantitatif, Kualitiarif, dan R & D. Alfabeta. Suhartono, P. A. ; S. (2015). Pengaruh Political Connection Dewan Direksi dan Dewan Komisaris terhadap Return on Equity dan Asset Turnover Perusahaan

di Sektor Konstruksi. Business Accounting Review, 3(2), 261–270.

Sujoko, S. (2017). Pengaruh Struktur Kepemilikan, Strategi Diversifikasi, Leverage, Faktor Intern Dan Faktor Ekstern Terhadap Nilai Perusahaan (Studi Empirik Pada Perusahaan Manufaktur Dan Non Manufaktur Di Bursa Efek Jakarta). EKUITAS (Jurnal Ekonomi Dan Keuangan), 11(2), 236. https://doi.org/10.24034/j25485024.y2007.v11.i2.2236

Tangke, P. (2019). Pengaruh Political Connection dan Foreign Ownership Terhadap Nilai Perusahaan Melalui Corporate Social Responsibility. Jurnal Akuntansi Dan Keuangan Daerah, 14(1), 1–15.

Wijoyo, A. (2018). Faktor-faktor yang mempengaruhi nilai perusahaan pada perusahaan property dan real estate di bursa efek indonesia. Jurnal Ekonomi,

(1), 48–61. https://doi.org/10.24912/je.v23i1.333

Winjantini. (2007). A Test Of the Relationship Between Political Connection And

Indirect Costs Of Financial Distress In Indonesia. Asian Academy Of

Management Journal Of Accounting and Finance.

Wulandari, T. (2013). Analisis Pengaruh Political Connection Dan Struktur

Kepemilikan Terhadap Kinerja Perusahaan. None, 2(1), 141–152.

Yanti, I. G. A. D. N., & Darmayanti, N. P. A. (2019). Pengaruh Profitabilitas, Ukuran Perusahaan, Struktur Modal, Dan Likuiditas Terhadap Nilai Perusahaan Makanan Dan Minuman. E-Jurnal Manajemen Universitas Udayana, 8(4), 2297. https://doi.org/10.24843/ejmunud.2019.v08.i04.p15

Yogiswari, N. L. P. P., & Badera, I. D. N. (2019). Pengaruh board diversity terhadap kinerja perusahaan dalam perspektif corporate governance pada perusaahaan manufaktur di BEJ 2005. E-Jurnal Akuntansi, 26, 2070.

Downloads

Published

2021-03-20

How to Cite

Erma Wulansari, & Ahmad Nur Aziz. (2021). Political Connection, Ceo Gender, Kinerja Keuangan, Dan Struktur Modal Sebagai Penentu Nilai Perusahaan. Conference on Economic and Business Innovation (CEBI), 1(1), 524–539. Retrieved from https://jurnal.widyagama.ac.id/index.php/cebi/article/view/132

Issue

Section

Articles Text