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Analisis Fundamental Makro, Struktur Kepemilikan Terhadap Nilai Perusahaan dengan Karakteristik Perusahaan, Kinerja Keuangan dan Struktur Modal Sebagai Variabel Intervening pada Perusahaan Real Estate yang Terdaftar di BEI

  • Yolanda Maghdalena Sihaloho 1*
  • Hwihanus2
1,2 Universitas 17 Agustus 1945 Surabaya image/svg+xml
* Corresponding Author: Yolanda Maghdalena Sihaloho

Abstract

This study aims to analyze the effect of macro fundamentals and ownership structure on firm value with company characteristics, financial performance, and capital structure as intervening variables in real estate companies listed on the Indonesia Stock Exchange for the period 2013-2023. Using quantitative methods, this study analyzed the financial statements of 3 companies selected through purposive sampling from a population of 84 real estate companies. The results showed that macro fundamentals have a significant effect on capital structure, but no significant effect on financial performance, company characteristics, and firm value. Ownership structure has a significant effect on capital structure, but has no significant effect on firm value, firm characteristics, and financial performance. Firm characteristics and capital structure have a significant effect on firm value, while financial performance has no significant effect. Of the 11 hypotheses proposed, only 3 are accepted. This finding indicates that in the real estate companies studied, firm characteristics and capital structure have a more significant influence on firm value than other factors. This study provides new insights into the factors that influence firm value in the real estate industry in Indonesia and can be a consideration for stakeholders in making decisions related to investment and management of companies in this sector.

Keywords

Macro Fundamentals Ownership Structure Company Characteristics Financial Performance Capital Structure Firm Value

How to Cite

Citation Format
Sihaloho , Y. M., & Hwihanus. (2024). Analisis Fundamental Makro, Struktur Kepemilikan Terhadap Nilai Perusahaan dengan Karakteristik Perusahaan, Kinerja Keuangan dan Struktur Modal Sebagai Variabel Intervening pada Perusahaan Real Estate yang Terdaftar di BEI. LANCAH: Jurnal Inovasi Dan Tren, 2(2), 325~329. https://doi.org/10.35870/ljit.v2i2.2715

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Author Biographies

Yolanda Maghdalena Sihaloho , Universitas 17 Agustus 1945 Surabaya

Fakultas Ekonomi dan Bisnis Universitas 17 Agustus 1945 Surabaya, Surabaya, Indonesia

Hwihanus, Universitas 17 Agustus 1945 Surabaya

Fakultas Ekonomi dan Bisnis Universitas 17 Agustus 1945 Surabaya, Surabaya, Indonesia

License

Copyright (c) 2024 Yolanda Maghdalena Sihaloho , Hwihanus

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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

This is an open-access journal distributed under the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits unrestricted use, distribution, reproduction, and adaptation in any medium (even commercially), provided appropriate credit is given to the original author(s), a link to the license is provided, and any changes made are indicated. Authors retain copyright without restrictions and grant the journal the right of first publication as well as non-exclusive publishing rights for archiving, indexing, and scholarly dissemination.

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