ijier logo

The Effect of Company Growth on Firm Value with Debt Policy as Moderation in Service Sector Industries

Authors

  • Muhammad Syahrial Syahrial

    University of Lampung, Indonesia

    Author

  • Yuliansyah Yuliansyah

    University of Lampung, Indonesia

    Author

  • Sudrajat Sudrajat

    University of Lampung, Indonesia

    Author

DOI:
https://doi.org/10.31686/ijier.vol8.iss8.2538
Keywords:
Array, Array, Array, Array
Abstract

This research aims to analyze the effect of asset growth, revenue growth on Firm value, and moderated by leverage. The population in this study is non-banking service companies listed on the Indonesia Stock Exchange in the period 2014 - 2018.Sampling in this study uses a purposive sampling method which produces as many as 55 research samples. The data used in this study are secondary data. The analysis technique uses multiple linear regression analysis and moderated regression analysis using the classic assumption test. Test result shows (i)assets growth has a positive significant effect on firm value, (ii)revenue growth does not affect firm value, (iii)As for moderation, leverage strengthens the effect of the relationship between asset growth and firm value, (iv)However, leverage weakens the relationship between revenue growth and firm value.

Author Biographies
  1. Muhammad Syahrial Syahrial, University of Lampung, Indonesia

    Faculty of Economics and Business

  2. Yuliansyah Yuliansyah, University of Lampung, Indonesia

    Faculty of Economics and Business

  3. Sudrajat Sudrajat, University of Lampung, Indonesia

    Faculty of Economics and Business

References

Andriani, Leang. 2018. Pengaruh Profitabilitas Dan Pertumbuhan Penjualan TerhadapNilai Perusahaan Dengan Kebijakan Deviden Sebagai Variabel Intervening. Jurnal Ekobis Dewantara.

Bettman, Jenni L. Mitch Kosev. Stephen J Sault. 2011. Exploring the asset growth effect in the Australian equity market. Australian Journal of Management. DOI: https://doi.org/10.2139/ssrn.1622034

Cooper, Michael J. Huseyin Gulen. Michael J Schill. 2008. Asset Growth and the Cross-Section of Stock Returns. The Journal of Finance. DOI: https://doi.org/10.2139/ssrn.760967

Ermanda, Yulisa. Hilda Purnamawati. 2017. Pengaruh Perputaran Modal Kerja DanPertumbuhan Penjualan Terhadap Profitabilitas. Jurnal SIKAP. DOI: https://doi.org/10.32897/jsikap.v1i2.58

Fahmi, Irham. 2014. Manajemen Keuangan dan Pasar Modal. Jakarta: Mitra Wacana Media.

Gray, Philip. Jessica Johnson. 2011. The Relationship Between Asset Growth and The Cross-Section Of Stock Returns. Journal of Banking & Finance. DOI: https://doi.org/10.1016/j.jbankfin.2010.06.005

Hendratmoko, Agung. Abdul Muid. 2017. Pengaruh Profitabilitas, Ukuran Perusahaan, Dan Pertumbuhan Penjualan Terhadap Pengungkapan ICSR Lembaga Keuangan Syariah Di Indonesia. Diponegoro Journal Of Accounting.

Li, Xi. Rodney N Sullivan. 2011. The Limits to Arbitrage Revisited: The Accrual and Asset Growth Anomalies. Financial Analysts Journal. DOI: https://doi.org/10.2469/faj.v67.n4.5

Li, Xi. Ying Becker. Didier Rosenfeld. 2012. Asset Growth and Future Stock Returns: International Evidence. Financial Analysts Journal. DOI: https://doi.org/10.2469/faj.v68.n3.4

Myers, Stewart C. Nicholas S Majluf. 1984. Corporate Financing And Investment Decisions When Firms Have Information That Investors Do Not Have. Journal of Financial Economics. DOI: https://doi.org/10.3386/w1396

Spence, Michael. 1973. Job Market Signaling. The Quarterly Journal of Economics. DOI: https://doi.org/10.2307/1882010

Parta, Kadek Ayu Citra Pradnya Paramita. Ida Bagus Panji Sedana. 2018. Peran Struktur Modal Dalam Memediasi Pengaruh Pertumbuhan Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Properti Di BEI. Jurnal Manajemen Unud.

Zuhair, Muhammad Sayyid. Dade Nurdiniah. 2018. Dampak Konvergensi IFRS Dan Leverage Terhadap Manajemen Laba Dengan Pertumbuhan Penjualan Sebagai Variabel Moderasi. Jurnal Riset Manajemen dan Bisnis. DOI: https://doi.org/10.36226/jrmb.v3i1.93

Downloads
Published
2020-08-01
Issue
Vol. 8 No. 8 (2020): International Journal for Innovation Education and Research
Section
Journal Articles
License

Copyright (c) 2020 Muhammad Syahrial Syahrial, Yuliansyah, Sudrajat

Creative Commons License

This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

Copyrights for articles published in IJIER journals are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author for more visit Copyright & License.

How to Cite

Syahrial, M. S., Yuliansyah, Y., & Sudrajat, S. (2020). The Effect of Company Growth on Firm Value with Debt Policy as Moderation in Service Sector Industries. International Journal for Innovation Education and Research, 8(8), 445-453. https://doi.org/10.31686/ijier.vol8.iss8.2538