Muchlas, Zainul
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PENGARUH AGENCY COST TERHADAP KINERJA KEUANGAN PERUSAHAAN KELUARGA MENGGUNAKAN TOBIN’S Q & ALTMAN Z-SCORE Muchlas, Zainul
Jurnal Ilmiah Bisnis dan Ekonomi Asia Vol 11 No 2 (2017): Jurnal Ilmiah Bisnis Dan Ekonomi Asia
Publisher : LP2M Institut Teknologi dan Bisnis Asia Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32812/jibeka.v11i2.66

Abstract

This research aims to test the effect of agency cost toward financial performance in family business measured by Tobin’s Q and Altman Z-Score with proxied by insider ownership, dispersion ownership, institutional ownership. This research was conducted at family business firms listed in Indonesian Stock Exchange from 2011-2015. In this research, multiple linear regression analysis were used. The result show the agency cost (insider ownership, dispersion ownership, institutional ownership) simultaneously have a significant effect toward Tobin’s Q, insider ownership and institutional ownership are not significant toward Tobin’s Q, dispersion ownership has a significant effect toward Tobin’s Q, agency cost (insider ownership, dispersion ownership, institutional ownership) simultaneously and partial are not significant toward Altman Z-Score.
Pengaruh Likuiditas, Efisiensi Penggunaan Modal Kerja dan Leverage terhadap Profitabilitas pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi yang terdaftar di Bursa Efek Indonesia Alamsyah, Agus Rahman; Muchlas, Zainul
Jurnal Ilmiah Bisnis dan Ekonomi Asia Vol 10 No 2 (2016): Jurnal Ilmiah Bisnis Dan Ekonomi Asia
Publisher : LP2M Institut Teknologi dan Bisnis Asia Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32812/jibeka.v10i2.67

Abstract

This study aims to determine how much influence the liquidity proxied current ratio (CR), the efficiency of working capital is proxied working capital turnover (WCT) and the leverage that proxy debt to equity ratio (DER) to profitability that proxy return on investment (ROI) on companies Manufacturing Sector Consumer Goods Industry listed in the Indonesia Stock Exchange. The results showed that the variable current ratio (CR) partially no effect on the return on investment (ROI), variable working capital turnover (WCT) partially significant effect on return on investment (ROI) variable debt to equity ratio (DER) is partial no significant effect on return on investment (ROI). Variable current ratio (CR), working capital turnover (WCT), debt to equity ratio (DER) simultaneously affect the return on investment (ROI) at manufacturing consumer goods industry sectors listed on the Jakarta Stock Exchange