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Firm Value Model in Pharmaceutical Companies Erion; Lili Purnama Sita; Yuli Zain
International Journal of Asian Business and Management Vol. 3 No. 4 (2024): August 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijabm.v3i4.10679

Abstract

This study intends to investigate and fill the knowledge vacuum among academics about the issue wherein leverage is not given priority as a risk factor in relation to institutional ownership and the availability of firm liquidity. Furthermore, investors in the capital market do not perceive leverage to be a major factor. This study uses a quantitative methodology, focusing on chemical businesses listed on the Indonesia Stock Exchange (IDX) over a ten-year period. It does this by using a multiple regression analysis method using panel data. Five companies were chosen through the use of a purposive sampling strategy. Through the use of leverage as an intervening variable, the study aims to maximize Firm Value. Two research models are combined into one, with each passing through different phases of testing for model selection, such as the Lagrange Multiplier, Hausman, and Chow tests. The results of the first model show that while liquidity affects leverage, ownership structure has no effect on it. In the second model, liquidity successfully explains the relationship between ownership structure and firm value. Furthermore, the impact on firm value is not mediated by leverage as an intervening variable. It is expected that these results will function as a roadmap for publicly traded corporations seeking to increase their Firm Value
Profitability Function on Capital Adequacy Ratio Model Yudhia Mulya; Dameria BR Girsang; Yuli Zain
International Journal of Scientific Multidisciplinary Research Vol. 2 No. 3 (2023): March 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijsmr.v2i3.8518

Abstract

The purpose of this study is to look at the relationship between the variables NIM, Loan to Deposit Ratio (LDR), Current Exchange Rate (CER), and Capital Adequacy Ratio (CER). This is predicated on the observation that multiple prior studies have yielded differing results, which motivates academics to conduct additional study. This study used 10 cross-sectional samples and a six-year time series with panel data multiple regression analysis. It is classified as quantitative descriptive research. This research formula uses NIM as an intervening variable with the goal of maximizing the CAR value. The primary focus of this research is the banking businesses that are listed on the Indonesian Stock Exchange. The use of multiple regression analysis is made to investigate panel data techniques, and two integrated research models are created into a single study model. The first study model's findings support the relevant theory by showing that CER can positively correlate its effect on NIM. Another finding in the second research model is that NIM has a positive association with its influence on CAR, which is consistent with the relevant theory. Only the relationship between CER and CAR can be explained by the NIM function as an intervening variable. It is envisaged that these findings would serve as a manual for Indonesian banking professionals to help them optimize the capital adequacy ratio