Pengaruh Struktur Kepemilikan Terhadap Nilai Perusahaan Dengan Return On Asset Sebagai Variabel Intervening (Pada Perusahaan Manufaktur Sektor Industri Dasar dan Kimia Periode 2012-2017)

Abstract

This research aims to determine the influence of ownership structures that are proscribed with institutional ownership to the value of the company being proscribed with the ratio of Tobin's Q with Return On Asset as a intervening variable. The population in this study is the entire company of the basic and chemical sectors registered in the IDX period 2012-2017. The samples in this study amounted to 22 companies, using the Purposive sampling method. The data analysis techniques used in this study are multiple linear regression analyses. The research results (1) Institutional ownership have a positive and significant influence on the value of the company (Tobin's Q). (2) Institutional ownership has a positive and insignificant influence on return on asset. (3) Return on asset has a positive and significant influence on the value of the company. (4) Return on asset is incapable of the institutional influence ownership against the company's value (Tobins Q).