Herry Laksito_abstract_1512011

MODEL PREDIKSI NILAI PERUSAHAAN MELALUI KEPEMILIKAN MANAJERIAL DAN SET KESEMPATAN INVESTASI

Herry Laksito
Fakultas Ekonomi Universitas Diponegoro
Jl. Erlangga Tengah No.17 Semarang, 50241

Sutapa
Fakultas Ekonomi Universitas Islam Sultan Agung
Jl. Raya Kaligawe Km.04 Semarang, 50112

Telp./Fax. +62 24 658 3584
E-mail: s_top70@yahoo.co.id

Abstract
This study empirically examined the effect of managerial ownership on corporate value of Investment Opportunity Set with mediation. Model, this research examined corporate governance measured by the shares of the corporate value with the mediation set of investment opportunities. The purpose of this study was to analyze the effect on the value of corporate governance mediation firm with an investment opportunity sets on manufacturing companies listed in Indonesia Stock Exchange. The populations in this study were all of manufacturing companies listed in Indonesia Stock Exchange and reporting financial statement in the Indonesian capital market directory during the period 2005-2007. Determination of sample used purposive sampling. The data met the characteristic of 37 firms. Statistical method used was path analysis. The results showed that managerial stock ownership (corporate governance) did not affect the corporate value with a negative direction. Managerial stock ownership (corporate governance) affected the investment opportunity set (IOS). IOS did not affect the corporate value and investment opportunity set could not significantly mediate the effect of managerial ownership (corporate governance) against the corporate value .

Key words: managerial ownership, corporate value,
investment opportunity set

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