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All Journal Jurnal Keuangan dan Perbankan UNEJ e-Proceeding Kinerja: Jurnal Ekonomi dan Manajemen Akuntabel : Jurnal Ekonomi dan Keuangan Forum Ekonomi : Jurnal Ekonomi, Manajemen dan Akuntansi Inovasi : Jurnal Ekonomi, Keuangan, dan Manajemen JURNAL MANAJEMEN Proceeding of National Conference on Accounting & Finance Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Jurnal Ilmu Akuntansi Mulawarman (JIAM) INOVASI: Jurnal Ekonomi, Keuangan, dan Manajemen
Indra Suyoto Kurniawan
Universitas Mulawarman
Religion Arts Humanities Economics, Econometrics & Finance Education Social Sciences Other

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Journal : UNEJ e-Proceeding

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THE MODERATING EFFECT OF DIVIDEN AND OWNERSHIP STRUCTURE ON THE RELATIONSHIP BETWEEN FREE CASH FLOW AND ENTERPRISE VALUE Zaki Fakhroni; Indra Suyoto Kurniawan
UNEJ e-Proceeding the 3rd International Conference on Economics, Business, and Accounting Studies
Publisher : UPT Penerbitan Universitas Jember

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Abstract

The purpose of this study was to answer the phenomena occurring phenomenon both theoretically and empirically the phenomenon of potential internal conflicts of the company’s free cash flow and its use for the benefit of increasing corporate value. Such internal conflicts requires a proper solution so that no impact on the company’s failure. This study examine the role of dividends and ownership structure (majority and managerial) in moderating the relationship between free cash flow and enterprise value. The results of this study are expected to generate an alternative solution of free cash flow problems and increase corporate value. Population data in this study are companies listed on the Indonesia Stock Exchange in the period of observation in 2007-2016. The number of sample used in this study is 2.387 units of observation. Sampling techique in this study using methods of probability/random sampling. Statistical tools to test hypothesis in this study is the pure moderated regression analysis. The results showed that free cash flow has a negative and significant effect on firm value. Free cash flow could potentially cause failure of the company as a result of reduced firm value and poor financial performance. Other research results indicate that dividends and managerial ownership moderates the relationship between free cash flow and value of the company in a positive and significant. Majority ownership moderates the positive and significant to the relationship between free cash flow and enterprise value. Therefore, the mechanism of dividends and managerial ownership can be used to solve the problems of free cash flow and increase corporate value.
Co-Authors Agus Iwan Kesuma Al Azhar Anis Rachma Utary Anis Rachma Utary Anita Muhtadina Arie Suwardana arif defri artanto Aris Gunawan Athalla Salsabilla Ayu Ningtyas Kusuma Wardani Riyanto Bayu Ananda Perdana Hakim Cornelius Rantelangi Durrotul Maghfiroh Dwi Risma Deviyanti Eka Ariyanti Eman Eileen Melisa Emelda Yasha Eny Rochaida Ervina Kristiani Esther Yulianawati Setiawan Etha Ruruk Falensia Falensia Fiqgiya, Nurfatin Fitri Handayani Sabri GIOVANNY ZUSANA LAKBURLAWAL Gusti Noorlitaria Achmad Hafidz, Syifa Azzahra Haipa Ulfah Hamid Bone Hendra Budiawan Herawati Herawati Ibnu Abni Lahaya Indra, Muhammad Irfan Irwansyah Irwansyah - Irwansyah Irwansyah Irwansyah Irwansyah Irwansyah Irwansyah Irwansyah Irwanwsyah Iskandar Iskandar Iskandar Iskandar Isma Yanti Putri Isna Yuningsih Isna Yuningsih Jatsiyah Hakim Jumhari Jumhari Katrin Serly Sasmia Ledy Setiawati Lery Palario Lia Usvita Lipan Sonya Alvionita Monalisa Monalisa Muhamad Mujib Ridwan Muhammad Iqbal Muhammad Irfan Indra Muhammad Rizal Muhammad Yahya Mustika Dwi Aryani Isman Najat, Shally Nike Demos Noor, Aspyan Nora Asiah Nora Idiawati Noriza Mirandha Nur Hidayah Nurfatin Fiqgiya Nurita Affan Purba Debby Arimanondang Rangga Tsabit Imam Reza Magdalena Risca Ayu Maharti Rizky Riza Fauzi Ronaa Dewitri Rusdiah Iskandar Sadam Sadam Salmah Pattisahusiwa Samira Ulfah Sanly Purvitasari Satria Bangun Pratama Set Asmapane Sisly Indah Ramadhani Siti Masyithoh Siti Masyithoh Siti Masyithoh Sofiyanti Ardi Niyingsih Sri Mintarti Sri Mintarti Stepani Christ Pratiwi Sulis Rahayu Rahayu Sulistiyo Wati Supri Adi Syamsidaryani Syamsidaryani TRI SUTRISNO Vevi Rufi Wahdani Wahyu Wuri Handayani Wahyudy Saputro Yana Ulfah Yasha, Emelda Yulvido Arif Ramanda Yuni Wira Santi Yunus Tete Konde Zaki Fakhroni