Date: 20-09-2020 Digital Publication Services : OSREL | JABM | JAM | ABMR | ABMCS

STRATEGI DIVERSIFIKASI PERUSAHAAN DAN PENGARUHNYA TERHADAP EXCESS VALUE DENGAN MODERASI KEPEMILIKAN MANAJERIAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2009-2011

Detail
Author MEGA GITA PRATIWI Nomor Pokok : A.2009.1.31162
Category Akuntansi Manajemen dan SIA

Abstract

First purpose of this study is to empirically study the differences of financial performance (ROA and DEBT) between company that has a single segment and company that uses a diversification strategy, which is measured by the Herfindahl Index. The other purpose from this study is to examine the influence of corporate diversification strategy toward excess value (with the control variable size, DEBT and ROA), and the last purpose from this study is to examine the influence of managerial ownership toward the relation among corporate diversification strategy and the excess value. The sample in this research are manufacturing companies listed in Indonesia Stock Exchange for three years 2009-2011. The research sample are 82 firm with 246 observations. The analysis of data uses independent sample t test and multiple linear regressions. The sampling method uses a purposive sampling method. The results of the research shows company that uses a diversification strategy has underperfome than a company has a single segment. Corporate diversification strategy executed in Indonesia has not produced optimal result toward excess value. Managerial ownership as a moderated variables is also unable to moderated the relationship between company that uses a diversification strategy and excess value.