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All Journal Business and Investment Review Neraca Manajemen, Akuntansi, dan Ekonomi
Adriana, Marcelia
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Analisis Fundamental Mikro, Fundamental Makro, dan Struktur Kepemilikan terhadap Nilai Perusahaan dengan Kinerja Keuangan sebagai Variabel Intervening pada Perusahaan Perhotelan yang Tercatat di Bursa Efek Indonesia Tahun 2020-2022 Adriana, Marcelia; Hwihanus
Musytari : Jurnal Manajemen, Akuntansi, dan Ekonomi Vol. 13 No. 7 (2025): Musytari : Jurnal Manajemen, Akuntansi, dan Ekonomi
Publisher : Cahaya Ilmu Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.8734/musytari.v13i7.9745

Abstract

Penelitian ini menganalisis bagaimana fundamental makro, fundamental mikro, dan struktur kepemilikan terhadap nilai perusahaan dengan kinerja keuangan sebagai variabel intervening pada perusahaan perhotelan yang tercatat di bursa efek indonesia tahun 2020-2022. Secara khusus, sampel penelitian yang berupa data sekunder diambil sebanyak 10 perusahaan perhotelan periode 2020 – 2022, dengan menggunakan purposive sampling untuk memilih populasi perusahaannya. Secara metodologis, metode berbasis varians untuk memperkirakan model structural, pemodelan jalur PLS – telah dipilih. Hasil studi menunjukkan bahwa fundamental makro tidak memiliki pengaruh signifikan terhadap nilai perusahaan (0,234 > 0,05, sehingga H2 ditolak), fundamental mikro memiliki pengaruh yang tidak signifikan terhadap nilai perusahaan (0,217 > 0,05, sehingga H4 ditolak), dan struktur kepemilikan tidak memiliki pengaruh signifikan terhadap nilai perusahaan (0,628 > 0,05, sehingga H6 ditolak).
The Effect of Ownership Structure and Environmental Costs on Financial Performance With Company Characteristics and Cost Efficiency as Intervening Variables in Metal and Similar Sub-Sector Companies Listed on the Indonesia Stock Exchange Adriana, Marcelia; Hwihanus
Business and Investment Review Vol. 3 No. 6 (2025)
Publisher : CV. Lenggogeni Data Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61292/birev.229

Abstract

This study is focused on investigating and evaluating the impact of Ownership Structure and Environmental Costs on Financial Performance using Company Characteristics and Cost Efficiency as Intervening Variables. All companies listed on the Indonesia Stock Exchange (IDX) between 2020 and 2024 that are part of the Metal and Similar Sub-Sector comprise the population used in this study. The Partial Least Square (PLS) method, which incorporates testing through the outer model and inner model, was used for data analysis and hypothesis testing. The study's findings show that ownership structure negatively influences financial performance, although the effect is not statistically significant. Meanwhile, ownership structure shows a positive and significant influence on company characteristics, and a negative yet significant influence on cost efficiency. Furthermore, environmental costs positively affect company characteristics but without significance, and they also negatively influence financial performance, although not significantly. In addition, company characteristics demonstrate a positive and significant effect on cost efficiency, while cost efficiency itself positively and significantly contributes to financial performance.
Co-Authors Hwihanus