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Ngadiman , Ngadiman
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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THE INFLUENCE OF GROWTH OPPORTUNITIES, DEBT POLICY, AND SOLVENCY ON COMPANY VALUE Bangun, Nurainun; Natsir, Khairina; Ngadiman , Ngadiman
International Journal of Application on Economics and Business Vol. 2 No. 3 (2024): Agustus 2024
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v2i3.162-172

Abstract

This study aims to prove the influence of growth opportunity, debt policy, and solvency on company value in basic industrial and chemical companies listed on the Indonesia Stock Exchange from 2019 to 2021. A total of 27 selected samples with a total of 81 observations over three years were used in the research. This. Research data is secondary data extracted from company annual financial reports that have been audited and published. Panel data was processed with the help of Eviews version 12 software. Data analysis uses multiple linear regression. The testing stages include the classic assumption test consisting of multicollinearity and heteroscedasticity tests, then selecting the most appropriate regression model using the Chow test, Hausman test and Lagrange Multiplier test. Research hypothesis testing was carried out by a t-test and coefficient of determination test. The results of the analysis show that growth opportunity partially has a negative effect on company value, debt policy has an insignificant positive effect on company value, and solvency has a significant positive effect on the value of basic industrial and chemical companies listed on the Indonesia Stock Exchange in the 2019-2021 period.
THE ROLE OF BUSINESS RISK AS AN INTERVENING VARIABLE ON FACTORS AFFECTING COMPANY VALUE Natsir, Khairina; Bangun, Nurainun; Ngadiman , Ngadiman; Chiandra, Febbyorent
International Journal of Application on Economics and Business Vol. 2 No. 2 (2024): May 2024
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v2i2.3404-3416

Abstract

This study heading to examine the effect of “dividend policy, investment decisions and funding decisions on firm value by applying business risk as an intervening variable. The population is companies in the consumer goods industry sector that are listed on the IDX in 2016-2022. Samples were selected by purposive sampling. Research data were obtained from the official website of the Indonesia Stock Exchange www.idx.co.id and the official website of the company under study. Data analysis was performed using multiple regression methods. The selection of the regression model was carried out through the Chow test, Hausman test, and Lagrange Multiplier test. The classic assumption test includes a multicollinearity test. Hypothesis testing includes the t-test and the coefficient of determination test. To analyze the effect of mediation is done through the Sobel test, Goodman test, and Aroian test. The results of the study show that dividend policy, investment decisions, funding decisions, and business risks affect firm values. The mediation test using the Sobel, Aroian and Goodman method shows that business risk is able to mediate dividend policy on firm value, business risk variables do not mediate funding decisions on firm value. Meanwhile for the mediation test between investment decisions and firm value, different results were obtained between the three test methods carried out, where Sobel and Aroian showed that investment decisions on firm value were not mediated by business risk, while the Goodman Test showed that there is a significant influence of business risk variables as mediating variables.”
DETERMINANTS OF DEBT POLICY IN CONSUMER GOODS COMPANY IN INDONESIA Bangun, Nurainun; Natsir, Khairina; Ngadiman , Ngadiman
International Journal of Application on Economics and Business Vol. 1 No. 3 (2023): Agustus 2023
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v1i3.946-956

Abstract

The intended of this study was to determine the effect of business risk, non-debt tax shields, and firm size on debt policy. The population consists of companies that in the 2019-2021 period are listed on the Stock Exchange in the consumer goods group. Purposive sampling technique was applied to select samples from as many as 74 companies, of which 40 consumer goods companies met the criteria, so that in total there were 120 research data. Data analysis was carried out using Multiple Linear Regression and data processing data is supported by EViews 12. The findings of this research show that changes in company size will move debt policy in a significant and positive direction. Meanwhile, business risk and nonndebt taxxshields have insignificant effect on debttpolicy for companies in the consumerrgoods group registered on the Indonesia StockkExchange.
THE EFFECT OF CORPORATE GOVERNANCE ON UNDERPRICING DURING THE INITIAL PUBLIC OFFERING Natsir, Khairina; Ngadiman , Ngadiman; Pranadipta, Ruth
International Journal of Application on Economics and Business Vol. 2 No. 1 (2024): February 2024
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v2i1.3051-3068

Abstract

Initial public offering (IPO) is the main gateway for private institutions to adapt to public business and list company shares on the capital market for trading. By conducting an IPO, an institution can obtain funding from the public to pay for company expansion. One phenomenon that is often encountered by business actors conducting an IPO is an underpricing situation, namely a situation where the share price offered in the primary market is lower than the share price in the secondary market. As a manifestation of the company's obligation to use public price ranges, it is the responsibility of companies across society to manage and use public funds well, transparently and accountably, so that good corporate governance can be implemented well. The aim of this research is to analyze the influence of corporate governance on underpricing in organizations conducting IPOs on the Indonesian Capital Market for the 2017-2022 period. Corporate governance is measured through the scale of the board of commissioners, independence of the board of commissioners, management ownership and institutional share ownership. There are 305 groups providing initial public services and indexed on the IDX throughout the 2017-2022 period. Random sampling techniques are used to select samples. The analysis uses a robust linear regression evaluation method. The findings of this research show that the magnitude of the board of commissioners has no effect on underpricing, the of independence commissioners has an impact on underpricing, while management proportion ownership and institutional proportion ownership have a fairly large negative effect on underpricing.
Co-Authors Chiandra, Febbyorent Dra. Nurainun M.M.,Ak Bangun Khairina Natsir, Khairina Pranadipta, Ruth