STRUKTUR KEPEMILIKAN DAN STRUKTUR MODAL TERHADAP KEBIJAKAN DIVIDEN DAN NILAI PERUSAHAAN

The company’s long-term goal was to maximize corporate value. Maximization of corporate value could be realized by using the aspect of corporate financial decisions and the amount of stock ownership by management in the company. This study aimed to determine the effect of direct and indirect ownership structure and capital structure toward dividend policy and firm value. Ownership structure was measured by total percentage of stock ownership by management, capital structure was measured with debt to equity ratio (DER), dividend policy was measured by dividend payout ratio (DPR) and the value of the firm measured by price to book value (PBV). Population research was all the firms in the manufacturing industries listed in Indonesia Stock Ex- change (IDX) from 2006 until the year of 2009 namely 149 companies. Sampling conducted in the research was purposive sampling method. Based on the criteria obtained by purposive sampling, 15 companies were eligible to be utilized as the research sample. The results of this research were the impact of ownership structure was not significant on dividend policy, the ownership structure had a significant positive impact on corporate value, capital structure did not significantly effect on dividend policy, capital structure did not significantly affect the value companies, dividend policy had a significant positive impact on corporate value

STRUKTUR KEPEMILIKAN DAN STRUKTUR MODAL TERHADAP KEBIJAKAN DIVIDEN DAN NILAI PERUSAHAAN

The company’s long-term goal was to maximize corporate value. Maximization of corporate value could berealized by using the aspect of corporate financial decisions and the amount of stock ownership by managementin the company. This study aimed to determine the effect of direct and indirect ownership structure and capitalstructure toward dividend policy and firm value. Ownership structure was measured by total percentage ofstock ownership by management, capital structure was measured with debt to equity ratio (DER), dividendpolicy was measured by dividend payout ratio (DPR) and the value of the firm measured by price to book value(PBV). Population research was all the firms in the manufacturing industries listed in Indonesia Stock Exchange(IDX) from 2006 until the year of 2009 namely 149 companies. Sampling conducted in the researchwas purposive sampling method. Based on the criteria obtained by purposive sampling, 15 companies wereeligible to be utilized as the research sample. The results of this research were the impact of ownership structurewas not significant on dividend policy, the ownership structure had a significant positive impact on corporatevalue, capital structure did not significantly effect on dividend policy, capital structure did not significantlyaffect the value companies, dividend policy had a significant positive impact on corporate value

Analisis Pertumbuhan Laba (Studi Kasus Rasio Cael Pada LPD Kecamatan Sukawati Kabupaten Gianyar)

Lembaga Perkreditan Desa (LPD) merupakan salah satu lembaga keuangan milik Desa Pekraman di Bali. Lembaga Perkreditan Desa (LPD) beroperasi seperti perbankan dan pengukuran kinerja (tingkat kesehatannya) seperti bank, walaupun LPD tersebut bukanlah bank. Pertumbuhan laba yang positif mencerminkan LPD mampu berkembang dalam operasionalnya. Penelitian ini bertujuan untuk mengetahui pengaruh Capital, Asset, Earning, dan Liquidity (CAEL) terhadap pertumbuhan laba LPD. Studi empiris dilakukan pada LPD di Kecamatan Sukawati tahun 2015-2017 dengan jumlah sampel 28 LPD. Data penelitian adalah data sekunder yang diperoleh dari Lembaga Pemberdayaan Lembaga Perkreditan Desa (LPLPD) Kabupaten Gianyar dan beberapa dari LPD secara langsung. Teknik analisis menggunakan regresi linier berganda dengan uji t (untuk mengetahui pengaruh variabel independen terhadap variabel dependen secara parsial). Hasil penelitian menunjukkan bahwa CAR berpengaruh negatif dan signifikan terhadap pertumbuhan laba, thitung (-5,629 ) ≤ ttabel (1,993), dengan α = 0,000. KAP berpengaruh positif dan signifikan terhadap pertumbuhan laba, thitung (3,819 ) > ttabel (1,993) , dengan α = 0,000. ROA berpengaruh positif dan signifikan terhadap pertumbuhan laba thitung (5,676) > ttabel (1,993), dengan α = 0,000. Rasio Alat Likuid berpengaruh positif dan signifikan terhadap pertumbuhan laba, thitung (4,926) > ttabel (1,993), dengan α = 0,000