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All Journal Jurnal Akuntansi dan Pajak International Journal of Economics, Business and Accounting Research (IJEBAR)
Teguh Setiawan Wibowo
STIE Mahardika Surabaya
Economics, Econometrics & Finance Social Sciences

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THE EFFECT OF FREE CASH FLOW, COMPANY GROWTH AND PROFITABILITY ON DEBT POLICY ON MINING SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE Teguh Setiawan Wibowo; Lusy Lusy
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 5, No 4 (2021): IJEBAR : Vol. 05, Issue 04, December 2021
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v5i4.3526

Abstract

Growing companies need funds that can be financed through debt. Several factors that influence debt policy include: free cash flow, company growth and profitability. This research is a quantitative research that takes data from BEI, a mining sector company from 2016 to 2018 with a population of 48 company data, using purposive sampling technique obtained as many as 15 company data. The conclusion from the results of this research shows that free cash flow, company growth and profitability as measured using return on assets, have a significant effect on debt policy. The debt policy variable in this research uses the Debt to Asset Ratio measurement. The results of the coefficient of determination obtained a value of 56.5% indicating that debt policy is influenced by free cash flow, company growth and profitability, while the other 43.5% is influenced by other variables not included in this research. Companies need to pay attention to other variables besides debt policy, such as Price Earnings Ratio, Dividend Payout Ratio and Tobin's Q. Keywords: free cash flow, company growth, profitability, debt policy
PENINGKATAN NILAI PERUSAHAAN MELALUI KINERJA KEUANGAN DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI Nurhidayati Nurhidayati; Novianty Novianty; Teguh Setiawan Wibowo; Helmina Br Ginting; Nurul Aini
Jurnal Akuntansi dan Pajak Vol 23, No 2 (2023): JAP : Vol. 23, No. 2, Agustus 2022 - Januari 2023
Publisher : ITB AAS INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jap.v23i2.7502

Abstract

This study aims to examine and analyze the effect of financial performance on firm value with good corporate governance as a moderating variable. This research is a quantitative research using secondary data. The population of this study are manufacturing companies that are included in the food and beverage industry sub-sector which are listed on the Indonesia Stock Exchange during the 2017-2020 period. The sampling technique used in this study was purposive sampling. The independent variable in this study is company value as measured by return on assets (ROA). The dependent variable in this study is firm value as measured by Tobin's Q. While the moderating variable in this study is good corporate governance as measured by managerial ownership. The collected data was analyzed using multiple linear regression analysis using the SPSS application tool. The results of this study indicate that 1) financial performance has a positive and significant effect on firm value, and 2) good corporate governance is able to moderate the effect of financial performance on firm value. The results of these findings indicate that if the company wants to increase the value of the company, the company must also improve financial performance, besides that to strengthen this increase, the company must also improve good corporate governance.
Co-Authors Helmina Br Ginting Lusy Lusy Novianty Novianty Nurhidayati Nurhidayati Nurul Aini