BLOCKHOLDER OWNERSHIP, CAPITAL STRUCTURE AND MANUFACTURE COMPANY VALUE IN INDONESIA STOCK EXCHANGE

Yuliani, YL (2012) BLOCKHOLDER OWNERSHIP, CAPITAL STRUCTURE AND MANUFACTURE COMPANY VALUE IN INDONESIA STOCK EXCHANGE. Journal of Economics, Business, and Accountancy , 15 (3). pp. 471-482. ISSN 2087-3735

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    Abstract

    The capital markets have been in the emerging market category for example, the Indonesia Stock Exchange. In connection with this condition, it has been known that the behavior of issuers and investors are still relatively unstable. This behavior is quite different to market conditions in other countries, which have become the efficient market. The number of listed companies is still relatively small compared to the number of listed companies on stock exchanges in developed countries. The research aims to measure and to find empirical evidence, the direct effect of blockholder ownership and capital structure on company value. It will investigate and examine the mediating effect of capital structure on company value. The research was conducted at manufacturing company in Indonesia Stock Exchange (IDX) for five years. This research use census sampling, with number 36 of companies that were analyzed with Structural Equation Modeling (SEM). The result shows directly the blockholder ownership does not have significant effect to company value. Capital structure has mediating effect to the relationship between blockholder ownership and company value. This finding Explains that the indirect role of capital structure can increase of company value. In addition, capital structure directly has significant effect to company value.

    Item Type: Article
    Subjects: H Social Sciences > HG Finance
    Divisions: Faculty of Economics > Department of Management
    Depositing User: Yuliani yuliani Yuliani
    Date Deposited: 09 Sep 2014 19:49
    Last Modified: 09 Sep 2014 19:49
    URI: http://eprints.unsri.ac.id/id/eprint/4708

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