PENGARUH INVESTMENT OPPORTUNITY SET, DIVIDEND STABILITY, DAN FINANCIAL LEVERAGE TERHADAP FIRM VALUE DENGAN OWNERSHIP CONCENTRATION SEBAGAI VARIABEL MODERATING PADA SEPULUH PERUSAHAAN NON - CYCLICAL HIGH DIVIDEND

Feris Nur Alif Supriyanto; Loviorla Zefanya Lovely Albertus; Nabila Siloy; David Al Amin; Siti Aisyah; Steven Marcellino; Maria Yovita R. Pandin

doi:10.69957/grjb.v6i02.2931

Authors

Feris Nur Alif Supriyanto Universitas 17 Agustus 1945 Surabaya
Loviorla Zefanya Lovely Albertus Universitas 17 Agustus 1945 Surabaya
Nabila Siloy Universitas 17 Agustus 1945 Surabaya
David Al Amin Universitas 17 Agustus 1945 Surabaya
Siti Aisyah Universitas 17 Agustus 1945 Surabaya
Steven Marcellino Universitas 17 Agustus 1945 Surabaya
Maria Yovita R. Pandin Universitas 17 Agustus 1945 Surabaya

DOI:

https://doi.org/10.69957/grjb.v6i02.2931

Keywords:

Divided Stability, Financial Leverage, Firm Value, Investment Opportunity Set, Ownership Concentration

Abstract

Penilaian atas kesuksesan sebuah entitas bisnis dalam mengangkat taraf hidup pemegang saham serta menumbuhkan keyakinan investor umumnya tecermin dari indikator nilai perusahaan. Sepanjang kurun waktu 2021–2025, PT HM Sampoerna Tbk dihadapkan pada beragam dinamika bisnis yang berpotensi memberikan dampak pada nilai korporasi, sehingga menuntut adanya tata kelola yang jitu terkait probabilitas investasi, kebijakan pembagian laba, serta komposisi utang. Riset ini dilaksanakan guna mengevaluasi dampak dari Investment Opportunity Set (IOS), Dividend Stability, serta Financial Leverage terhadap Firm Value, dengan menyertakan Ownership Concentration sebagai variabel pemoderasi pada PT HM Sampoerna Tbk di Bursa Efek Indonesia rentang waktu 2021–2025. Metode kuantitatif diaplikasikan dalam studi ini dengan memanfaatkan data sekunder berupa laporan tahunan dan laporan keuangan korporasi. Pengujian dilakukan guna mengukur sejauh mana variabel bebas berdampak pada nilai entitas, serta bagaimana peran moderasi dari konsentrasi kepemilikan pada relasi tersebut. Melalui riset ini, diharapkan muncul gagasan baru bagi literatur manajemen keuangan dan menjadi rujukan praktis bagi pihak manajemen maupun investor untuk menelaah elemen-elemen penentu nilai perusahaan.

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