Pengaruh berbagai pengukuran firm size terhadap financial policy perusahaan sektor manufaktur yang terdaftar di bursa efek Indonesia

Meilida, Vonnita (2018) Pengaruh berbagai pengukuran firm size terhadap financial policy perusahaan sektor manufaktur yang terdaftar di bursa efek Indonesia. Masters thesis, Universitas Pelita Harapan.

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Abstract

In corporate finance, company size is usually used as an important characteristic as fundamental in the company. However, there are no studies that comprehensively assess the results of the use of various types of firm size measurements empirically in corporate finance with different measurements. Specifically, we examine the effect of using different proxies (total assets, total sales, and market value of equity) to measure the effect of the use of various types of firm size measurements on the company's financial policy by calculating the capital structure and cash holding as the dependent variable. From the results of this test it can be concluded that the size of the company has a significant influence on the capital structure and does not have a significant effect on cash holding. Therefore, the selection of measurements in measuring company size requires theoretical and empirical justification. Finally, this test provides guidance to financial researchers of companies who must use company size measurements in their work. / Dalam keuangan perusahaan, ukuran perusahaan biasanya digunakan sebagai karakteristik penting sebagai hal yang mendasar di dalam perusahaan. Namun, tidak ada penelitian yang secara komprehensif menilai hasil dari penggunaan dalam berbagai macam pengukuran firm size secara empiris dalam keuangan perusahaan dengan pengukuran yang berbeda-beda. Secara khusus, kami memeriksa pengaruh dari penggunaan proxy yang berbeda (total assets, total sales, dan market value of equity) untuk mengukur pengaruh penggunaan dari berbagai macam pengukuran firm size terhadap financial policy perusahaan dengan menghitung capital structure dan cash holding sebagai variable dependen. Dari hasil pengujian ini dapat disimpulkan bahwa ukuran perusahaan memiliki pengaruh yang signifikan terhadap capital structure dan tidak berpengaruh signifikan terhadap cash holding, Oleh karena itu, pemilihan pengukuran dalam mengukur ukuran perusahaan membutuhkan justifikasi teoritis dan empiris. Akhirnya, pengujian ini memberikan panduan kepada para peneliti keuangan perusahaan yang mana harus menggunakan pengukuran ukuran perusahaan dalam pekerjaan mereka.

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