Pengaruh Investment Opportunity Set terhadap Kinerja Keuangan

Abstract

Abstract. This research aims to find out how the development of the Investment Opportunity Set (IOS), Financial Performance and how it influences the Investment Opportunity Set (IOS), on the financial performance simultaneously or partially. The sample used was 11 banking companies listed on the Stock Exchange for the 2016-2018 period. The data used are data derived from financial statements, closing prices of shares, and number of shares outstanding. This research uses descriptive and verification methods, while the method of determining samples uses purposive sampling. The results showed that the development of Investment Opportunity Set (IOS) for 3 years, in which many companies have MVE // BE values below the average value. And the development of MVA / BVA has an average value increasing every year for 3 years in a row. Then the development of EPS / PRICE proxy with Ln has an average value that decreases every year for 3 years in a row. And the development of CEP / MVA has an average value increasing every year for 3 years. Then the development of CEP / BVA has an average value increasing every year for 3 years in a row. And the results of research for the influence of MVE / BE (Market Value Equity to Book Value Equity) and total Ln Assets and CEP / BVA Capital Expenditure to Book Value Assets, EPS / PRICE and total Ln Asset partially do not affect ROA (Retrun on Asset ) and simultaneously affect ROA (Retrun on Asset). Then the results of the study for the influence of MVA / BVA and CEP / MVA) and total Ln Assets influence partially affect ROA (Retrun on Asset) and simultaneously influence ROA (Retrun on Asset).

Keywords: MVE/BVE (Market to Book Value of Equity), MVA/BVA (Market to Book Value of Asset), EPS/PRICE (Earning per Share / Price), CEP/MVA (Capital Expenditure to Market Value of Assets), CEP/BVA (Capital Expenditure to Book Value Assets), ROA

Abstrak. Penelitiann ini bertujuan untuk mengetahui bagaimana perkembangan Investment Opportunity Set (IOS), Kinerja Keuangan dan bagaimana pengaruhnya Investment Opportunity Set (IOS), terhadap kinerja keuangan secara simultan maupun parsial. Sampel yang digunakan adalah 11 perusahaan perbankan  yang tercatat di BEI periode 2016-2018. Data yang digunakan adalah data yang berasal dari laporan keuangan, harga penutupan saham, dan jumlah lembar saham yang beredar. Penelitian ini menggunakan metode deskriptif dan verifikatif, sedangkan metode penentuan sampel menggunakan purposive sampling. Hasil penelitian menunjukan bahwa perkembangan Investment Opportunity Set (IOS) selama 3 tahun, di mana banyak perusahaan yang memiliki nilai MVE//BE di bawah nilai rata-rata. Dan perkembangan MVA/BVA memiliki nilai rata-rata mengalami peningkatan tiap tahunnya selama 3 tahun berturut-turut. Lalu perkembangan proksi EPS/PRICE dengan Ln memiliki nilai rata-rata yang menurun setiap tahunnya selama 3 tahun berturut-turut. Dan perkembangan CEP/MVA memiliki nilai rata-rata meningkat setiap tahunya selama 3 tahun. Lalu perkembangan CEP/BVA memiliki nilai rata-rata mengalami peningkatan setiap tahunnya selama 3 tahun berturut-turut.Dan hasil penelitian untuk pengaruh MVE/BE (Market Value Equity to Book Value Equity) dan Ln total Aset dan CEP/BVA Capital Expenditure to Book Value Assets, EPS/PRICE  dan Ln total Asset secara parsial tidak berpengaruh terhadap ROA (Retrun on Asset) dan secara simultan berpengaruh terhadap ROA (Retrun on Asset). Lalu hasil penelitian untuk pengaruh MVA/BVA dan CEP/MVA ) dan Ln total Aset berpengaruh terhadap secara parsial berpengaruh terhadap ROA (Retrun on Asset) dan secara simultan berpengaruh terhadap ROA (Retrun on Asset).

Kata kunci: MVE/BVE (Market to Book Value of Equity), MVA/BVA (Market to Book Value of Asset), EPS/PRICE (Earning per Share / Price), CEP/MVA (Capital Expenditure to Market Value of Assets), CEP/BVA (Capital Expenditure to Book Value Assets), ROA