Diversifikasi, Investment Opportunity Set, Dinamika Lingkungan dan Nilai Perusahaan (Studi Empiris Sektor Manufaktur di Bursa Efek Indonesia)

Yuliani, Yuliani (2013) Diversifikasi, Investment Opportunity Set, Dinamika Lingkungan dan Nilai Perusahaan (Studi Empiris Sektor Manufaktur di Bursa Efek Indonesia). PhD thesis, Universitas Brawijaya.

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    Abstract

    Diversification is a strategic choice with long-term implications. Some fundamental theory perspective of diversification includes Market Power View, Resources Based View, Internal Transaction Cost and Agency Theory. The gap research results showed still there is variation of diversification in firm value creation. Operationalizing the Investment Opportunity Set (IOS) and environmental dynamics is expected to provide an explanation the discrepancy of variation. This study aims to describe and analyze the diversification effect on firm value, the role of IOS as mediating effect of diversification on firm value and environment dynamics as a moderating influence IOS on firm value. The research was conducted in manufacturing sector listed in Indonesia Stock Exchange (IDX). Observation period was 2006-2010. Based on the criteria population defined, the sampling method is saturated sample or census. The number samples were 18 companies with anaylisi of unit are 72 cases. The data analysis method was Smart PLS Ver 2.0 M3. The research findings show the breadth of business diversity within some businesses making the firm value increased. Firm value has increased due because the role of IOS could become partial mediating. The interaction IOS*environmental dynamics does not become moderating. Theoretical implication of this research was to provide empirical evidence the fundamental theory of diversification, but not completely proven in Resources Based Value theory. The study recommends the management of firm should be able to increase market share and growth to give a positive signal to potential investors.

    Item Type: Thesis (PhD)
    Uncontrolled Keywords: Diversification, Investment Opportunity Set, Environmental Dynamics, Firm Value
    Subjects: H Social Sciences > HG Finance
    Divisions: Faculty of Economics > Department of Management
    Depositing User: Yuliani yuliani Yuliani
    Date Deposited: 05 Nov 2018 09:36
    Last Modified: 05 Nov 2018 09:36
    URI: http://eprints.unsri.ac.id/id/eprint/8185

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