Isthi Wahyuning Tyas, Isthi Wahyuning
STIE Jakarta International College

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Mengungkap Dampak Ukuran, Struktur Modal, dan Pertumbuhan terhadap Nilai Perusahaan Manufaktur: Pendekatan Baru Juniarto, Antonius; Tyas, Isthi Wahyuning; Wicaksono, Dading Damas Ario
International Journal of Digital Entrepreneurship and Business Vol 5 No 1 (2024): International Journal of Digital Entrepreneurship and Business (IDEB)
Publisher : Universitas Jakarta Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52238/ideb.v5i1.153

Abstract

Achieving investment success requires a thorough understanding of a company’s intrinsic value, as strategic investment decisions often hinge on the accurate valuation of the target company. Recognizing this, companies must continually enhance their value to attract potential investors. This study sought to empirically assess the influence of company size, capital structure, and growth on the value of manufacturing firms listed on the Indonesia Stock Exchange (IDX) from 2014 to 2016. The research employed purposive sampling methods to gather data and utilized multiple linear regression analysis through SPSS software for statistical evaluation to meet this objective. The findings indicated that both company size and growth had a significant positive impact on company value, whereas capital structure did not show a significant effect. Moreover, the results of simultaneous testing revealed that the combination of capital structure, company size, and growth had a significant collective influence on the value of the companies. These insights underscore the importance of focusing on company size and growth strategies to enhance firm value in the eyes of investors.
Did investment opportunity moderate the influence of the COVID-19 crisis on dividend policy? Hartono , Powell Gian; Tinungki, Georgina Maria; Suade, Yuyun Karystin Meilisa; Rahardja, Liana; Triany, Novika Ayu; Tyas, Isthi Wahyuning; Hartono, Patrick Gunawan
Jurnal Manajemen dan Pemasaran Jasa Vol. 17 No. 2 (2024): September
Publisher : Lembaga Penerbit Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25105/v17i2.20006

Abstract

During the COVID-19 crisis, the investment opportunity experienced a low condition, indicated by a decrease in the market price to book value during the crisis, believed to moderate the impact of the COVID-19 crisis on dividend policy, specifically focusing on companies within the real estate and property sector in Indonesia. Therefore, this study examines the effect of the COVID-19 crisis, measured by GDP growth, on dividend policy moderated by investment opportunity. Employing a quantitative approach, the research spans from 2014 to 2021, using a purposive sampling technique to select 31 real estate and property sector companies as samples. Statistical analysis is conducted using dynamic panel data regression, employing the System-Generalized Method of Moments with a Two-Step estimator to produce more efficient parameter estimates and accommodate the dynamics of dividend policy. The findings reveal that during the COVID-19 crisis, companies in this sector tended to adopt higher dividend policies than non-crisis periods. Furthermore, investment opportunity was proven to positively moderate the influence of the COVID-19 crisis, proxied by GDP growth, on dividend policy. This study has implications for company management when considering investment opportunities that can moderate dividend policy during a crisis. Additionally, it advises investors to pay attention to the moderation of investment opportunities on the impact of the COVID-19 crisis on dividend policy to achieve optimal stock investment returns, especially dividend returns. The originality of this research lies in testing the moderation of investment opportunity on the impact of the COVID-19 crisis on dividend policy.