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Elok Pakaryaningsih
Fakultas Ekonomi Universitas Kristen Duta Wacana Yogyakarta
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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PERANAN KEPEMILIKAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN DALAM TINJAUAN HUBUNGAN NON-LINEAR Kasus Perusahaan yang Terdaftar di Bursa Efek Indonesia Elok Pakaryaningsih
Benefit: Jurnal Manajemen dan Bisnis Benefit : Kumpulan Makalah Diskusi Dosen FE UMS Volume 12 No 2 Desember 2008
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/benefit.v12i2.1288

Abstract

This research examines the effect of institutional ownership on firm value. In doingso, institutional ownership will be divided into two groups; passive owner and active owner.The active owner who holds more than 5 percent of stock is hypothesized to have positiverelationship with firm value. However, this positive relationship will decline considerably asthe percentage of ownership increases. The other variables, namely; passive institutionalownership, public ownership, and firm size will be used as well to examine the consistentrelationship between institutional ownership and firm value. Rather than examining itlinearly, this research intends to examine the non-linear effect of institutional ownership onfirm value. The samples are drawn from all firms listed at the Jakarta Stock Exchange from2002 to 2005. Using the non-linear regression analysis, the results show the existence of nonlinearrelationship between active institutional owner andfirm value in Indonesia.
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