PENGARUH PANDEMI COVID-19 TERHADAP KEBIJAKAN MANAJEMEN KEUANGAN DAN NILAI PERUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA
Authors
Burhanudin Burhanudin , Sri Darwini , Laila WardaniDOI:
10.29303/jmm.v11i1.707Published:
2022-03-01Issue:
Vol. 11 No. 1 (2022): JMM Februari 2022Articles
Downloads
How to Cite
Abstract
The impact of the Covid-19 pandemic was not only felt in the field of health, but also had an impact on the economy. This research aims to find out the difference between Funding Policy (DAR), Investment Policy (FAR), Dividend Policy (DPR) and company value (Tobin's Q) before and during the Covid-19 pandemic in LQ 45 Companies listed on IDX. The results showed that there was no significant difference in DAR, FAR, DPR and Tobin's Q before and during the Covid-19 pandemic in the LQ 45 Company listed on the IDX. Before covid 19 DAR and DPR had a positive and significant effect on Tobin's Q. While during covod 19 only dpr had a positive and significant effect on Tobin's Q LQ 45 company registered with idx.References
Aggarwal, R and Aung Kyaw, N.N, 2006, Kent State University, Kent, OH 44242, e-mail: [email protected], Iona College, New Rochelle, NY 10801, e-mail: [email protected], Leverage, Investment Opprtunities, and Firm Value: A Global Perspective on the Influence of Financial Development.
Aggarwal, R.K and Samwick, A.A, 2003, Why Do Managers Diversity Their Firms? Agency Reconsidered, Journal of Finance, 58, pg. 71-118.
Aivazian, V. A., Ying Ge, and Jiaping Qiu, 2005, The Impact of Leverage on Firm Investment: Canadian Evidence, Journal of Corporate Finance 11 (2005), pg. 277-291.
Anuchitworawong, C, 2004, Institute of Economic Research Hitotsubhasi University 2-1 Naka, Kunitachi, 186-8603, Tokyo, E-mail: cei*[email protected]*u.ac.jp, Ownership-based Incentives, Internal Corporate Risk and Firm Performance.
Baskin, J, 1989, An Empirical Investigation of The Pecking Order Hypothesis, Financial Management, Spring.
Biddle, G. C., R.M. Bauen & J.S Wallace (1996), Does EVA Beat Earnings?. Evidence on Associations with Stock Returns and Firm Values, Journal of Accounting and Economics 2, pg. 301-336.
Coles, J.L., Daniel, N.D., and Neveen, L, 2004, Department of Finance W.P. Carey School of Business Arizona State University, E-mail [email protected], Department of Finance Robinson College of Business Georgia State University, E-mail [email protected], and E-mail [email protected], Managerial Incentives and Risk-Taking.
Dodd, J.L, and Chen, S, 1996, EVA: A New Panacea?, B & E Review/July-Sept. 1996, pg. 26-28.
Fama, Eugene F., dan Kenneth R. French. 1998. Value versus Growth: The International
Evidence. Journal of Finance, Vol. 53, No. 6
Guo, Hui and Robert F. Whitelaw, 2006, Uncovering the Risk–Return Relation in the Stock Market, The Journal of Finance, Vol 61, Issue 3, Pg 1433-1463
Harris M., Raviv A, 1991, The Theory of Capital Structure, The Journal of Finance, 46, pg. 297-355.
Hasnawati, 2005, “Implikasi Keputusan Investasi, Pendanaan dan Dividen
Terhadap Perusahaan Publik di Bursa Efek Jakarta”, Usahawan: No. 09/Th
XXXIX, September 2005
Jensen, M., and W.H. Meckling, 1976, The Theory of the Firm: Managerial Behavior, Agency Cost, and Ownership Sructure, Journal of financial Economic 3, No. 4. pg. 305-360.
McConnell, J., and H. Servaes, 1990, Additional Evidence on Equity Ownership and
Modigliani, F., and M. Miller, 1958, The Cost of Capital, Corporation Finance, and the Theory of Investment, American Economic Review 48 (3), pg. 261-297.
Modigliani, F and Miller, M., 1963, Corporate Income Taxses and The Cost of Capital: A Correction, American Economic Review, 53, June, pg. 433-443.
Myers, Stewart C, 1984, The Capital Structure Puzzle, Journal of Finance, 39: 3, July, pg. 575-592.
Myers, Stewart C, and Nicholas S. Majluf, 1984, Corporate Financing and Investment Decesions when Firms Have Information that Investors Do Not Have, Journal of Financial Economics, 13, pg. 187-221.
Pasternack, D and Rosenberg, M, 2002, Department of Finance and Statistics Swedish School of Economics and Business Administration 00101 Helsinki, E-mail: [email protected], and internet: http://www.shh.fi/services/biblio/papers/index.htm, The Impact of Stock Option Incentives on Investment and Firm Value.
Purnamasari, D. M. (2020). PP Pembatasan Sosial Berskala Besar Dibuat agar Pemerintah dan Gugus Tugas Bisa Lebih Tegas dan Disiplin. Retrieved Mei Rabu, 2020, from [Online] Available at : https://nasional.kompas.com/ read/2020/04/02/04580071/pp-pembatasansosial-berskala-besar
Riedel, S., Morse, S., Mietzner, T., Miller, S., Jawetz, M.elnick, et al. (2019). Medical
Microbiology. 28th ed. New York: McGraw- Hill Education/Medical, p.617-22
Stulz, Rene M, 1988, “Managerial Control of Voting Rights, Financing Policies and the Market for Corporate Control”, Journal of Financial Economics 20, pg. 25-54.
Syahib Natarsyah, 2000, Analisis Pengaruh Beberapa Faktor Fundamental dan Risiko Sistematik Terhadap Harga Saham (Kasus Industri Barang Konsumsi yang Go-Publik di Pasar Modal Indonesia), Jurnal Ekonomi dan Bisnis Indonesia, Vol. 15, No. 3, Hal. 294-312.
Sjahrial, D. 2007. Manajemen Keuangan Lanjutan. Edisi Pertama. Mitra Wacana Media. Jakarta.
Uchida, Konari, 2006, Faculty of Economics and Business Administration, The University of Kitakyushu 4-2-1, Kitagata, Kokuraminamiku, Kitakyushu 802-8577 JAPAN, E-mail address: [email protected] Agency Costs of Debt and the Relationship Between Firm Performance and Managerial Ownership: Evidence from Japan.
Villalonga, B., and Amit, R, 2004, Harvard Business School Soldiers Field Boston, MA 02163, E-mail: [email protected]. The Warton School University of Pennsylvania 3620 Loust walk Philadelphia, PA 19104, E-mail: [email protected], How Do Family Ownership, Management, and Control Affect Firm Value?.
Weston, J. F., & Copeland, T. E., 2001. Manajemen Keuangan Jilid I (9 ed.).
Jakarta: Binarupa Aksara..
Yuliana. (2020). Corona Virus Disease (Covid-19) ; Sebuah tinjauan literatur. Wellness And Healthy Magazine, Vol.2 (1), 187-192.
www.bps.go.id . (diakses pada 8 Maret 2021)
www.finance.yahoo.com (diakses pada 8 Maret 2021)
www.idx.co.id/id-id/beranda/publikasi/lq45.aspx. (diakses pada 10 Oktober 2021)
License
Copyright (c) 2022 Burhanudin Burhanudin, Sri Darwini, Laila Wardani
This work is licensed under a Creative Commons Attribution 4.0 International License.