Fundamental Factor of Firm due to the Firm Value

Andy Setiabudi · Dian Agustia

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Corporate Finance and Governance Financial Analysis and Corporate Governance Financial Reporting and Valuation Research

Abstract

The objective of this research is to examine factors that influence firm value which is mediated by firm leverage as intervening variable. This research also examines the effect of firm leverage to firm value as well as the factors that influence firm value through firm leverage. Purposive sampling method was used in this study. The sample period was between 2005 -2009 and there were 44 firms that fulfilled the criteria. Data of this research were analyzed by using the method of path analysis. Result indicated that profitability, firm size, asset tangibility, inflation rate had positive influence to the firm leverage and the other variables except GDP (Gross Domestic Brute) Growth had negative influence to the firm leverage. The positive influence on value of the firm was showed by profitability, asset tangibility, and GDP growth. In addition, inflation rate and leverage indicated the negative impact. Specifically on path analysis, leverage can be intervening variable on relationship between interest rate and value of the firm.

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