PENGARUH FAKTOR FUNDAMENTAL MAKRO DAN MIKRO PERUSAHAAN TERHADAP NILAI PERUSAHAAN (Pada Industri Pulp and Paper yang terdaftar di BEI)
DOI:
https://doi.org/10.35908/jeg.v5i2.1109Abstract
This research aims to know the impact of macro fundamental factors such as interest rate (SBI), kurs and gross domestic product; and micro fundamental factors such as return on asset (ROA), debt to equity ratio (DER) and price earning ratio (PER) on firm value in pulp and paper industry that listed in Indonesian Stock Exchange. This research used multiple regression analysis and processed with Eviews version 8. The results of study is: 1) By partial, just interest rate have negative and no significant effect on firm value, other factors such as kurs and gross domestic products, return on asset, debt to equity ratio and price earning ratio have positive and no significant effect on firm value; 2) By Simultaneous macro fundamental factor have positive and significant effect on firm value, also micro fundamental factors have positive and significant effect on firm value; 3) By Simultaneous macro and micro fundamental factors have positive and significant effect on firm value.
Â
Keywords: macro fundamental factor, micro fundamental factor, firm value
References
Ang, R. (1997). Buku Pintar Pasar Modal (Pertama ed.). Jakarta: Mediasoft Indonesia.
Arvianto, R. A. (2014). Pengaruh Faktor Fundamental Makro dan Mikro Terhadap Nilai Perusahaan. Jurnal Administrasi Bisnis, Vol. 13 No. 1.
Bank Indonesia, 2012.Indonesia Financial Statistic. Jakarta: BI.
Brigham, E. F., & Houston, J. F. (2006). Dasar-Dasar Manajeman Keuangan. Jakarta: Salemba Empat.
Haryanto, M., dan Dedi Riyatno, 2007.Pengaruh Suku Bunga SBI dan Nilai Kurs Terhadap Resiko Sistematik Saham Perusahaan di BEJ.Jurnal Keuangan dan Bisnis Vo. 5, No. 1 Maret 2007, Hal.24-40.
Ibnusantosa, G. (2000). Prospek dan Tantangan Pengembangan Agribisnis Pulp dan Kertas Dalam Ekolabeling dan Otonomi Daerah. Jurnal Manajemen Tropika, 6(2): 71-75.
J.Keown, A. e. (2004). Dasar-Dasar Manajemen Keuangan. Jakarta: Salemba Empat.
Jensen, & Meckling. (1976). Theory of The Firm : Managerial Behaviour, Agency Costs, And Ownership Structure. Jakarta.
Jogiyanto. (2007). Teori Portofolio dan Analisis Investasi (Keempat ed.). Yogyakarta: BPFE.
Jogiyanto. (2011). Konsep dan Aplikasi Structural Equation Modelling Berbasis Varian Dalam Penelitian Bisnis. UPP STIM YKPN.
Kasmir. (2008). Analisis Laporan Keuangan. Jakarta: PT. Raja Grafindo Persada.
Mankiw, G. N. (2006). Makroekonomi (Keenam ed.). Jakarta: Erlangga.Samuelson dan Nordhaus, 2004. Ilmu Makro Ekonomi. Edisi Tujuh Belas. PT. Media Jakarta: Global Edukasi.
Nopirin. (2000). Ekonomi Moneter (Keempat ed.). Jogjakarta: BPFE UGM.
Puspitasari, E., & Sudiyanto, B. (2010). Tobin's Q dan Altman Z-Score Sebagai Indikator Pengukur Kinerja Perusahaan. Jurnal Kajian Akuntansi, Vol. 2 No. 1, 9-21.
Romli, H., & Alie, M. (2016). Manajemen Modal Kerja. Palembang: Universitas Indo Global Mandiri.
Sudiyanto, B. (2010). Peran Kinerja Perusahaan Dalam Menentukan Pengaruh Fundamental Makroekonomi, Risiko Sistematis dan Kebijakan Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur di Bursa Efek Indonesia. Semarang: Disertasi Universitas Diponegoro.
Utami, N. W. (2018). Mengenal Teori Signaling Dalam Struktur Modal dan Hubungannya dengan Rasio Keuangan. Jurnal, http://www.jurnal.id/id/blog/2018-mengenal-teori-signaling-dalam-struktur-modal.
Wachowicz, J., M, J., & Horne, J. C. (2013). Prinsip-Prinsip Manajemen Keuangan: Fundamentals of Financial Management (13th ed.). Jakarta: Salemba Empat.
Zamzam, F., & Aravik, H. 2016. Manajemen SDM Berbasis Syariah, Bogor: CV. RWTC Success.
Zamzam, Fakhry, 2015. Teknik Dasar Menulis Proposal Tesis, Palembang: NoerFikri Offset Palembang
Zamzam, Fakhry, & Firdaus, 2018. Aplikasi Metodologi Penelitian, Yogyakarta, Penerbit CV BUDI UTAMA
Downloads
Published
How to Cite
Issue
Section
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License   that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work