Analisis Kebijakan Dividen Terhadap Nilai Intrinsik dan Nilai Pasar Perusahaan

2013 ◽  
Vol 1 (2) ◽  
pp. 113-124
Author(s):  
Nusa Muktiadji ◽  
Felicia Felicia
Keyword(s):  
Significant Influence ◽  
Stock Price ◽  
Dividend Policy ◽  
Intrinsic Value ◽  
Market Value ◽  
Net Income ◽  
Independent Variable ◽  
The Relationship ◽  
A Company

Dividend policy is basically a company’s decision in determining how much net income wil be distributed to shareholders as dividend and how much will be retained. Dividend policy is able to influence intrinsic and  market value of a company. In this study, the proxy of dividend policy is Dividend Pay-out (DPO) as independent variable and intrinsic value as dependent variable with indicator that is multiplication result of Earning Multiplier (EM) and Company Market Value obtained from stock price data of LQ45 at closing price. The purpose of this study is to identify the relationship between variables, the influence of independent variable to dependent variable, and finally to measure how significant the influence of variable X to variable Y will be, dividend policy to intrinsic and market value of the company. This case study was conducted at PT Aneka Tambang Tbk. and PT Timah Tbk., both are mining company. The results of this study are: 1) Dividend policy proxied by DPO has significant influence and relationship to the intrinsic value of PT Aneka tambang Tbk. But, at PT Timah Tbk., dividend policy to intrinsic value is not significant with alpha as high as 193.064, it’s due to the dividend policy does not influence the intrinsic value, but the intrinsic value is more influenced by EPS. 2) Dividend policy proxied by DPO has connection and fairly significant influence with the company’s market value at PT Aneka Tambang Tbk. But, at PT Tima Tbk., dividend policy to the company’s market value is not significant with alpha as high as 54.859, it’s due to the dividend policy does not influence the company’s market value, but the intrinsic value is influenced dominantly by the company’s market value. The result of the research shows that the dividend policy at PT Aneka Tambang Tbk has  impact on intrinsic and market value better than the dividend policy has impact on intrinsic and market value at PT Timah Tbk.   Keywords: dividend policy; intrinsic value; market value

The Effect of the Relationship of Growth Return and Market Value on the Relationship of Liquidity and Company Value Growth

2020 ◽  
Vol 11 (2) ◽  
pp. 503
Author(s):  
Sabah Hasan OGAILI
Keyword(s):  
Stock Price ◽  
Market Value ◽  
Strong Correlations ◽  
Company Value ◽  
Private Banks ◽  
Independent Variable ◽  
Intermediate Variables ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

The purpose of the research was to demonstrate the relationship between growth the return and the market value as two intermediate variables by comparing its relationship with liquidity and growth the value of the company. A set of financial ratios for the sample banks was used for the quantitative analysis using SPSS statistical analysis software to validate these hypotheses. The study included an elected sample gathered from some Iraqi private banks for the period (2013 – 2017), and demonstrated strong correlations between liquidity as an independent variable versus growth the return and the market stock price. This is achieved by understanding the effects of growth the value of the company and the impact relationship of growth the return and the market stock prick as two intermediate variables in the relationship between liquidity and growth the value of the company.  Unlike previous publish articles which were limited to studying and testing the effect and relationship of one or two variables, this research explains the relationship between two intermediate variables influencing the relationship of other two variables.  

scholarly journals PENGARUH INFLASI, NILAI TUKAR, CURRENT RATIO (CR) DAN DEBT TO EQUITY RATIO (DER) TERHADAP HARGA SAHAM (Studi Kasus Pada PT. Eratex Djaja, Tbk Periode 2009-2011)

2018 ◽  
Vol 6 (1) ◽  
Author(s):  
Muhammad Gusvarizon
Keyword(s):  
Exchange Rate ◽  
Stock Price ◽  
Stock Exchange ◽  
Share Price ◽  
Research Use ◽  
Current Ratio ◽  
Equity Ratio ◽  
Independent Variable ◽  
The Relationship

This study entitled "Influence Analysis of Inflation, Exchange Rate, Current Ratio (CR) and Debt to Equity Ratio (DER) on Stock Price (Case Study At PT Eratex Djaja, Tbk Listed on Indonesia Stock Exchange Period 2009 - 2011). In this research use survey research method with correlational and predictive approach. By taking sample that is PT. Eratex Djaja, Tbk Listed on Indonesia Stock Exchange Period of quarter 2009 - 2011. To solve the problem by analyzing and testing the relationship and influence between independent variable to dependent variable used by causalistic model through regression analysis with the help of SPSS 14.0. The result of this research is simultaneously Inflation, Exchange Rate, Current Ratio (CR) and Debt to Equity Ratio (DER) have positive and significant influence to Stock Price. Partially that: Inflation gives effect to Stock Price with influence of 44% (strong enough), Exchange Rate gives influence to Share Price with influence of 56% (strong enough), Current Ratio (CR) gives effect to Stock Price with influence equal to 76% (strong) and Debt to Equity Ratio (DER) give effect to Share Price with influence equal to 71% (strong).

scholarly journals Impact of Dividend Policy on Share Price Evidence from Textile Sector PSX-100 Index

2018 ◽  
Vol III (IV) ◽  
pp. 616-630
Author(s):  
Sanaullah Khan ◽  
Muhammad Faizan Malik ◽  
Shehzad Khan
Keyword(s):  
Stock Price ◽  
Dividend Policy ◽  
Secondary Data ◽  
Fixed Effect Model ◽  
Share Price ◽  
Empirical Estimation ◽  
Effect Model ◽  
Independent Variable ◽  
The Impact ◽  
The Relationship

This paper attempts to determine the impact of dividend policy on stock price in Pakistan. A sample of 20 textile listed companies in PSX is examined for a period from 2010 to 2017. The empirical estimation is based on a panel regression analysis of the relationship between dividend policy and share price and also used fixed effect model. Secondary data were used by the researcher in the study. The study has taken share price as a dependent variable while the dividend policy is an independent variable. The dividend policy was measure by different proxy such as SDS, DPR, EPS, PAT and ROE. The result explained that the ROE and EPS have significant positive relationship with share price while the SDS, PAT and DPR have negative association with share price. Although the results are not robust enough as in the case of developed markets but are consistent with the behavior of emerging markets

Implementing Reforms

2017 ◽  
Author(s):  
Nils Brunsson
Keyword(s):  
Board Of Directors ◽  
Government Service ◽  
Radical Reform ◽  
Administrative Reforms ◽  
The Board Of Directors ◽  
The Relationship ◽  
A Company

This chapter continues to analyze the relationship between decision and action using a case study on Swedish Rail (Statens Järnvägar, SJ). In February 1987, the board of directors of SJ met to consider a plan drawn up by an international consultancy company to implement a radical reform, the ‘New SJ’. The basic idea was to make the company more businesslike. SJ was to be run as a company and not as a government service, and its corporate aim was to be a profitable business. The chapter addresses the question of why reforms may be difficult to implement. It suggests that there are certain fundamental and common characteristics of administrative reforms which make them difficult to implement by nature.

scholarly journals The Influence of Destination Image on Tourist Intention and Decision to Visit Tourist Destination (A Case Study of Pemuteran Village in Buleleng, Bali, Indonesia)

2017 ◽  
Vol 1 (1) ◽  
pp. 81 ◽  
Author(s):  
Ni Wayan Marsha Satyarini ◽  
Myrza Rahmanita ◽  
Sakchai Setarnawat
Keyword(s):  
Local Government ◽  
Significant Influence ◽  
Natural Environment ◽  
Quantitative Method ◽  
Local Communities ◽  
Destination Image ◽  
Sampling Techniques ◽  
Tourist Destination ◽  
Independent Variable

This study examines the effects of the destination image to tourist intention and decision to visit tourism destination in Pemuteran Village, Bali. Destination image is an independent variable, tourist intention to visit serves as an intervening variable and decision to visit is a dependent variable. Explanatory research with quantitative method is employed. The number of sample is 112 respondents. Purposive sampling techniques is applied with criteria of Pemuteran village tourists. Data are collected with questionnaires and processed with path analysis. These results indicate that the variable destination image has a direct and significant effect on tourist intention to visit by 11.3%. Variable destination image has a direct and significant influence on the decision to visit by 37.5%. Variable tourist intention to visit has been direct and significant influence on the decision to visit amounted to 16.2%. Based on these results, Pemuteran village should keep trying to build a positive image and to improve the communication between the local government and local communities to strengthen cooperation to improve the natural environment in Pemuteran village.

scholarly journals Measuring the relationship between the balance of payments and the exchange rate - A case study of a group of Arab countries during the period 2000/2016-

2018 ◽  
Vol 2 (2) ◽  
pp. 44-66
Author(s):  
Abd Elouahid SERARMA ◽  
Newfel BAALOUL
Keyword(s):  
Exchange Rate ◽  
Empirical Studies ◽  
Arab Countries ◽  
Balance Of Payments ◽  
Rate System ◽  
Exchange Rate System ◽  
Independent Variable ◽  
The Exchange Rate ◽  
The Relationship

The Objective of this study is to examine the effect of exchange rate system on the balance of payments, with a case study of a group of Arab countries. First we shed light on the most important theoretical and empirical studies of exchange rate systems and their macroeconomics effects in one hand. In the other hand we study a case of six oil exporting Arab countries. To achieve this purpose we adopted a panel data and run an econometric model to examine the relationships between the variables during the period 2000 to 2016. The study concluded that there is a significant positive correlation between the exchange rate as an independent variable and the balance of payments as a dependent variable, and there is no deference in the effects of the exchange system in the study of six Arab economies.

scholarly journals FAKTOR-FAKTOR FUNDAMENTAL YANG MEMPENGARUHI HARGA SAHAM PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX TAHUN 2010-2016

2020 ◽  
Vol 6 (8) ◽  
pp. 1620
Author(s):  
Hamidatul Husnah ◽  
Puji Sucia Sukmaningrum
Keyword(s):  
Quantitative Analysis ◽  
Significant Influence ◽  
Stock Price ◽  
Current Ratio ◽  
Purposive Sampling ◽  
Equity Ratio ◽  
A Company ◽  
Observation Period

This research aims to determine the effect of Current Ratio, Debt Equity Ratio and Earning Per Share on stock price of Companies in Jakarta Islamic Index partially or simultaneously. The population in this study is a company registed in Jakarta Islamic Index and the sample used in this study as many as 9 companies listed in Jakarta Islamic Index that meets the criteria of purposive sampling. The observation period of the study starts from 2010 to 2016. This best of research in used quantitative analysis with multiple linear regressionshow that Current Ratio, Debt Equity Ratio and Earning Per Sharesimultaneously and significantly affect the stock price of companies in Jakarta Islamic Index. And partially variable of current ratio insignificant influence to stock price, debt equity ratio is negative and significant influence, and earning per share have positif and significant influence to stock price of company in Jakarta Islamic Index periode 2010-2016.Keywords: Stock Price, Current Ratio, Debt Equity Ratio,Earning Per Share

scholarly journals العلاقة بين التحفظ والتحوط المحاسبي دراسة تطبيقية في عينة من المصارف العراقية

2022 ◽  
Vol 17 (55, 1) ◽  
pp. 18-36
Author(s):  
مصطفى بدر عماش ◽  
علي حسين
Keyword(s):  
Banking Sector ◽  
Stock Exchange ◽  
Market Value ◽  
Accounting Conservatism ◽  
Financial Instruments ◽  
Independent Variable ◽  
High Level ◽  
Value Model ◽  
The Relationship

The research aims to test the relationship between accounting conservatism and hedging in the Iraqi banking sector. The research dealt with a sample of (12) banks listed in the Iraqi Stock Exchange from 2009-2019, with (132) views, and the(unconditional) accounting conservatism was identified. As an independent variable andaccounting hedging as a dependent variable, the (unconditional) accountingconservatism was measured through the market value model to the book, while the accounting hedging was measured as a dummy dust, and the results indicated a statistically significant correlation between accounting conservatism and accounting hedging.  orientation of the study sample towards proactive accounting conservatism according to its unconditional scale leads to a reduction in the adoption of accounting hedging tools in managing the risks of financial instruments. The reason for this may be due to the presence of a high level of accounting conservatism that makes the bank safe sort of a lot of dangers. Which contributes to reducing reliance on accounting hedging tools.However, this relationship turns out to be negative, that is, the increasing

Knowledge-Driven Customer Support Services

2011 ◽  
pp. 23-38
Author(s):  
Itzhak Aviv ◽  
Meira Levy ◽  
Irit Hadar
Keyword(s):  
Knowledge Management ◽  
Customer Service ◽  
Support Services ◽  
Service Providers ◽  
Relationship Management ◽  
Customer Support ◽  
The Relationship ◽  
A Company ◽  
Software Organization

A Customers Relationship Management (CRM) program aspires to manage the relationship between a company and its customers as a key to success, in view of the fact that good relationships with customers lead to higher customers’ satisfaction. Despite the importance of CRM programs, their failure rates are high, partly because CRM service providers cannot resolve customers’ claims on time, which often occur due to the difficulty to find valuable knowledge and reproduce solutions. Therefore, integrating Knowledge Management (KM) activities, and in particular social Web 2.0 applications, within a CRM solution suit may enable to significantly enhance the efficiency of the organizational CRM program and build a knowledge-driven customer support services solution. The proposed CRM solution is based on a research case study conducted within customer service department of a large software organization.

The reciprocal and nonlinearity relationship between corporate social responsibility and market value added: case study in Indonesia

2020 ◽  
Vol 38 (3) ◽  
pp. 405-417
Author(s):  
John Agustinus
Keyword(s):  
Social Responsibility ◽  
Stock Price ◽  
Positive Relationship ◽  
Value Added ◽  
Market Value ◽  
Content Type ◽  
Parametric Regression ◽  
Market Value Added ◽  
Corporate Social ◽  
The Relationship

PurposeThis study aims to examine the relationship between corporate social responsibility (CSR) and market value added (MVA) through a more comprehensive analysis of the relationship between the two variables.Design/methodology/approachThe population used in this study is all companies listed on the IDX. Sample selection is done by purposive sampling method where the criteria chosen in this research are: listed on the IDX during 2010–2016 and published its annual financial statements completely. The analysis tools using panel parametric regression are based on the reciprocal relationship (MVA related to CSR, and CSR related to MVA). This model should be linearity, based on RESET test. On the other hand, an alternative model is based on a nonlinearity relationship (the linearity of parametric regression is not fulfilled), the modified panel nonparametric regression (accommodates the reciprocal and nonlinearity relationship).FindingsSocial responsibility or CSR shows a positive relationship with MVA, also the MVA has a positive relationship with CSR. This means that when CSR value increases, then MVA also increases, vice versa. When the company discloses CSR, the company maintains good relationships not only with its shareholders but also with other stakeholders including the community and its environment. Therefore, it can enhance the company's perception and reputation to shareholders that the company is a responsible company, in the sense of being responsible not only to shareholders but also to other stakeholders. This then makes shareholders interested to invest their capital in companies with good CSR. Increased capital by shareholders in the form of stock purchases can affect the high or low stock price of a company; if the company price is high, then the higher the value of its MVA because the stock price is an element of MVA.Originality/valueBased on the aforementioned phenomenon, the relationship has the reciprocal characteristics, which means that CSR has a relationship with MVA; on the other hand, MVA also has a relationship with CSR (with a different time lag). Also, this study detects the nonlinearity relationship between variables shown in Fernandes and Fresly (2017). This part as the originality of this paper focused on the reciprocal and nonlinearity relationship between CSR and MVA.

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