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THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE

Conceptually, this research aimed to develop a theoretical approach as a mean to improve company value. The effort done were involving capital structure, investment opportunity set, sales growth, company size, and business risk, also proposing a research and development as an intervening variable...

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Main Authors: Latifudin, Mahirun, Wahyudi, Sugeng, Muharam, Harjum
Format: Article
Language:English
Published: International Journal of Economic Research 2017
Subjects:
HB Economic Theory
HD61 Risk Management
Online Access:http://repository.unikal.ac.id/2/
http://repository.unikal.ac.id/2/
http://repository.unikal.ac.id/2/1/THE%20EFFECT%20OF%20CAPITAL%20STRUCTURE%20ON%20FIRM%20VALUE%20WITH%20THE%20MEDIATION%20OF%20R%26D%20AS%20THE%20INTERVENING%20VARIABLE%20-%20MAHIRUN.pdf
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spelling repounikal-2 http://repository.unikal.ac.id/2/ THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE Latifudin, Mahirun Wahyudi, Sugeng Muharam, Harjum HB Economic Theory HD61 Risk Management Conceptually, this research aimed to develop a theoretical approach as a mean to improve company value. The effort done were involving capital structure, investment opportunity set, sales growth, company size, and business risk, also proposing a research and development as an intervening variable so that to build a grand theoretical model. The population of this research was manufacture companies, and non-finance companies registered in Indonesia Stock Exchange during observation period from 2017 to 2013. Path analysis was used as a mean of analysis helped by AMOS program. The main finding was R&D intensity which is the mediation between the effect of debt to equity ratio and capital expenditure to book value of assets to tobins’q value. Debt to equity ratio and capital expenditure to book value of assets were the sample of this study which influenced indirectly the improvement of tobins’q valye through R&D intensity. The result showed R&D intensity and size of the firm gave positive and significant effect on tobins’q value while debt to equity ratio, capital expenditure to book value of assets, and earning volatility did not give significant effect to tobins’q value. Meanwhile, debt to equity ratio and capital expenditure to book value of assets gave positive and significant effect on R&D intensity, and sales growth and size of the firm did not influence the R&D intensity. International Journal of Economic Research 2017 Article PeerReviewed text en http://repository.unikal.ac.id/2/1/THE%20EFFECT%20OF%20CAPITAL%20STRUCTURE%20ON%20FIRM%20VALUE%20WITH%20THE%20MEDIATION%20OF%20R%26D%20AS%20THE%20INTERVENING%20VARIABLE%20-%20MAHIRUN.pdf Latifudin, Mahirun and Wahyudi, Sugeng and Muharam, Harjum (2017) THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE. International Journal of Economic Research, 14 (15). pp. 481-496. ISSN 0972-9380 http: www.serialsjournals.com
institution UNIKAL
collection ePrints
language English
topic HB Economic Theory
HD61 Risk Management
spellingShingle HB Economic Theory
HD61 Risk Management
Latifudin, Mahirun
Wahyudi, Sugeng
Muharam, Harjum
THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE
description Conceptually, this research aimed to develop a theoretical approach as a mean to improve company value. The effort done were involving capital structure, investment opportunity set, sales growth, company size, and business risk, also proposing a research and development as an intervening variable so that to build a grand theoretical model. The population of this research was manufacture companies, and non-finance companies registered in Indonesia Stock Exchange during observation period from 2017 to 2013. Path analysis was used as a mean of analysis helped by AMOS program. The main finding was R&D intensity which is the mediation between the effect of debt to equity ratio and capital expenditure to book value of assets to tobins’q value. Debt to equity ratio and capital expenditure to book value of assets were the sample of this study which influenced indirectly the improvement of tobins’q valye through R&D intensity. The result showed R&D intensity and size of the firm gave positive and significant effect on tobins’q value while debt to equity ratio, capital expenditure to book value of assets, and earning volatility did not give significant effect to tobins’q value. Meanwhile, debt to equity ratio and capital expenditure to book value of assets gave positive and significant effect on R&D intensity, and sales growth and size of the firm did not influence the R&D intensity.
format Article
author Latifudin, Mahirun
Wahyudi, Sugeng
Muharam, Harjum
author_facet Latifudin, Mahirun
Wahyudi, Sugeng
Muharam, Harjum
author_sort Latifudin, Mahirun
title THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE
title_short THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE
title_full THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE
title_fullStr THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE
title_full_unstemmed THE EFFECT OF CAPITAL STRUCTURE ON FIRM VALUE WITH THE MEDIATION OF R&D AS THE INTERVENING VARIABLE
title_sort effect of capital structure on firm value with the mediation of r&d as the intervening variable
publisher International Journal of Economic Research
publishDate 2017
url http://repository.unikal.ac.id/2/
http://repository.unikal.ac.id/2/
http://repository.unikal.ac.id/2/1/THE%20EFFECT%20OF%20CAPITAL%20STRUCTURE%20ON%20FIRM%20VALUE%20WITH%20THE%20MEDIATION%20OF%20R%26D%20AS%20THE%20INTERVENING%20VARIABLE%20-%20MAHIRUN.pdf
first_indexed 2019-12-13T02:06:00Z
last_indexed 2019-12-13T02:06:00Z
_version_ 1653061604605952000
score 10.821803

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