ANALISIS PENGARUH FAKTOR EKSTERN TERHADAP KEPUTUSAN INTERN KEUANGAN, ARUS KAS BEBAS DAN PENDAPATAN SAHAM PADA PERUSAHAAN MANUFAKTUR YANG LISTED DI BURSA EFEK INDONESIA

Widi Hidayat

= http://dx.doi.org/10.20473/jeba.V19I32009.4241
Abstract views = 67 times | downloads = 256 times

Abstract


This study is intended to analyze the effect of external factors toward internal
financing decisions, free cash flow and stock returns of manufacturing companies
listed in Bursa Efek Indonesia after economic crisis since 1999 until 2002. Internal
financing decisions included investment decisions, financing decision and dividend
decision, external factors, free cash flow and stock returns used this model,
approved Damodaran model.
Testing of hyphotheses uses Structural Equation Modeling (SEM) with SPSS
program and AMOS program. The testing Goodness of Fit Index (GFI) are feasible.
Based on the data analysis, hypotheses 1,4 and 6 are really accepted. Otherwise
and hypotheses 2,3 and 5 are rejected.
The result of the study indicates that indicators investment decision ROE, FAU, CI,
MR and APR is significant; meanwhile with highest loading factor APR. The
indicators of financing decisions FL, STL, and CP is significant, meanwhile the
highest loading factors CP. The indicators of dividend decisions PR and ROFA is
significant; meanwhile the highest loading factor PR. The indicators of external
factor, inflation, interest and exchange rate is significant; meanwhile the highest
loading factors are inflation and then interest rate. The indicators of free cash
flow, EVA and MVA, are significant and both of them are the highest loading
factors. The indicators of stock returns, PER and CAP.G, are significant; meanwhile
the highest loading factors is CAP.G.
Key words : External Factors, Internal Financing Decisions, Free Cash Flow, Stock
Returns, Manufacturing Companies listed JSE.


Full Text:

PDF

Refbacks

  • There are currently no refbacks.




This journal is indexed by:

     

Hasil gambar untuk https://app.dimensions.ai/about

 

Jurnal Ekonomi dan Bisnis Airlangga (JEBA) (p-ISSN: 2338-2686; e-ISSN: 2597-4564) is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License