Published: 2025-08-01

Pengaruh Kepemilikan Manajerial, Leverage, dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Sektor Consumer Cyclicals di BEI Periode 2020-2023

DOI: 10.35870/jemsi.v11i4.4304

Neni Kurniasari, Syarif M Helmi, Sari Rusmita
  • Neni Kurniasari: Universitas Tanjungpura
  • Syarif M Helmi: Universitas Tanjungpura
  • Sari Rusmita: Universitas Tanjungpura
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Abstract

Firm value is a critical consideration for investors, particularly within the consumer cyclicals sector, which is highly susceptible to macroeconomic fluctuations. This study examines the effects of managerial ownership, leverage, and firm size on firm value among companies listed on the Indonesia Stock Exchange (IDX) over the period from 2020 to 2023. Employing a quantitative methodology, the research applies multiple linear regression analysis to a purposively selected sample of 28 firms, yielding a total of 60 observations. The results indicate that managerial ownership exerts a positive and significant impact on firm value, whereas leverage demonstrates a significant negative effect. Conversely, firm size does not exhibit a statistically significant relationship with firm value. Collectively, the independent variables show a meaningful combined influence on firm value. These findings are consistent with agency theory and signaling theory, offering valuable strategic insights for corporate decision-makers in managing ownership structures and optimizing financial leverage. 

Keywords

Firm Value; Managerial Ownership; Leverage; Firm Size; Consumer Cyclicals Sector

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Kurniasari, N., Helmi, S. M., & Rusmita, S. (2025). Pengaruh Kepemilikan Manajerial, Leverage, dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Sektor Consumer Cyclicals di BEI Periode 2020-2023. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 11(4), 2197-2211. https://doi.org/10.35870/jemsi.v11i4.4304
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This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 11 No. 4 (2025)

  • Section: Articles

  • Published: 2025-08-01

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Author Biographies
Neni Kurniasari, Universitas Tanjungpura
Google Scholar ResearchGate ORCID

Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura, Program Studi Akuntansi, Pontianak, Indonesia.

Syarif M Helmi, Universitas Tanjungpura
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Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura, Program Studi Akuntansi, Pontianak, Indonesia.

Sari Rusmita, Universitas Tanjungpura
Google Scholar ResearchGate ORCID

Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura, Program Studi Akuntansi, Pontianak, Indonesia.

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