Vitriyanti, Made Aprilia
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PENGARUH KETERBUKAAN EKONOMI, CADANGAN VALAS, INFLASI DAN KURS TERHADAP CADANGAN DEVISA DAN PERTUMBUHAN EKONOMI INDONESIA Vitriyanti, Made Aprilia; Setiawina, Nyoman Djinar
E-Jurnal Ekonomi Pembangunan Universitas Udayana Vol 10 No 11 (2021): VOL 10 NO 11, NOVEMBER 2021 [4406 - 4562]
Publisher : E-Jurnal Ekonomi Pembangunan Universitas Udayana

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Abstract

Foreign exchange reserves are used as a measure of the strength and weakness of a country's economic fundamentals and economic growth is an important indicator in measuring the success of a country's economic development. The purpose are analysis ; 1) effect economic openness, foreign exchange reserves, inflation and the exchange rate on Indonesia's foreign exchange reserves, 2) effect economic openness, foreign exchange reserves, inflation and exchange rates on Indonesia's economic growth, 3) indirect effect economic openness, foreign exchange reserves, inflation, and exchange rates on economic growth through Indonesia's foreign exchange reserves. The data used secondary data, analysis technique used path analysis. The results is economic openness and exchange rates have positive effect, inflation has negative insignificant effect, foreign currency reserves have positive significant on the country's foreign exchange reserves. Economic openness, foreign exchange reserves, inflation, and foreign exchange reserves have a positive effect, exchange rates have negative significant effect on Indonesia's economic growth. Indirectly the country's foreign exchange reserves mediate effect of economic openness and foreign exchange reserves but do not mediate the effect of inflation and exchange rates on Indonesia's economic growth. Keywords: economic openness, foreign exchange reserves, inflation, exchange rates, foreign exchange reserves,economic growth
The Influence of Capital Structure, Free Cash Flow, Inflation and Dividend Policy on Company Value with CSR as a Moderator Vitriyanti, Made Aprilia; Rahyuda, Henny
Return : Study of Management, Economic and Bussines Vol. 4 No. 8 (2025): Return: Study of Management, Economic and Business
Publisher : PT. Publikasiku Academic Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57096/return.v4i8.384

Abstract

The main goal of a company is to increase its firm value by maximizing its share price. The higher the firm value, the higher the stock value will be. The construction and building subsector is one of the key sectors supporting economic growth in Indonesia. However, The growth and increase in the number of companies is not accompanied by an increase in the value of companies in the construction and building sub-sector in Indonesia. This study aims to examine the effect of capital structure, free cash flow, and inflation on firm value through dividend policy, with Corporate Social Responsibility (CSR) as a moderating variable. The data analysis techniques used in this study are Path Analysis and Moderated Regression Analysis (MRA) with the help of SPSS version 27. The results indicate that capital structure has a negative and significant effect on firm value, while Free Cash Flow (FCF), inflation, and dividend policy have a positive and significant effect on firm value. Capital structure does not affect dividend policy, while FCF and inflation have a positive and significant effect on dividend policy. Dividend policy mediates the effect of FCF an inflation on firm value but does not mediate the effect of capital structure. CSR strengthens the relationship between dividend policy and firm value. The results of this study are expected to help companies in evaluating factors that can increase firm value in the future, help investors to pay attention to factors that influence firm value as a basis for making investment decisions, and for future researchers it is hoped that they can add other macroeconomic variables by considering more diverse companies in terms of industrial sectors.