PENGARUH TINGKAT PERTUMBUHAN TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL MODERASI

Abstrak

The purpose of this study is to determine the effect of growth rate on the value of the company as well as knowing the ability of capital structure in moderating the influence of growth rate to the value of the company. This study was conducted at an insurance company listed on the Indonesia Stock Exchange. The approach used in this research is causality approach. The population in this study are all insurance companies listed on the Indonesia Stock Exchange period 2011-2014, amounting to 11 companies, the sample collection is done by purposive sampling technique with a sample of 6 companies. Analysis technique in this research is moderate regression analysis (MRA). The result of classical and simultaneous assumption test shows that the regression model used is appropriate and the independent variable and the moderating variable have an effect on the company value. The result of research by using moderation regression analysis showed that growth rate had negative effect to company value. Capital structure is able to moderate by weakening the negative effect of growth rate on firm value.

Keywords: company value, growth rate, capital structure.