PENGARUH PRIVATISASI DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN PADA BUMN GO PUBLIC DI INDONESIA

Saragih, Dyan Rachelia Gustini (2014) PENGARUH PRIVATISASI DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN PADA BUMN GO PUBLIC DI INDONESIA. S1 thesis, Universitas Negeri Jakarta.

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Abstract

Firm value is one of the benchmarks for assessing the owner’s welfare of the company. High firm value indicates the shareholder’s welfare is on the high level too. Privatization and right capital structure target can be used to increase the firm value of State Owned Enterprise (SOE). The purpose of this research is to determine the effect of privatization and capital structure to firm value in SOE’s go public in Indonesia. This research uses secondary data, they are State Owned Enterprise’s financial statements which listed in Indonesia Trading Securities (IDX) till 2009. Financial statements which used in this research are financial statements year ended in 2009, 2010, 2011, and 2012. Sampling method is purposive sampling, and analyze model which used is linear regression. The result of this research shows that both privatization and capital structure have effects on firm value. Privatization is measured by the percentage of nongovernmental ownership, and it increases the firm value. In the other side, this research shows that capital structure which measured in debt to equity ratio has negartive effect to firm value.

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