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研究生: 方娟娟
Cheryl Poerwanto
論文名稱: 印尼LQ45指數成分股公司價值之決定因素
Determinants of Firm Values for Component Stocks in Indonesia LQ45 Index Laboratory Room No.
指導教授: 陳春男
Chen Chun Nan
口試委員: 鄭仁偉
Jen Wei Cheng
林軒竹
Hsuan-Chu Lin
余士迪
Shih- Ti Yu
學位類別: 碩士
Master
系所名稱: 管理學院 - 財務金融研究所
Graduate Institute of Finance
論文出版年: 2021
畢業學年度: 109
語文別: 英文
論文頁數: 57
中文關鍵詞: 公司規模企業年齡資本結構財務績效公司盈利能力公司價值
外文關鍵詞: firm size, firm age, capital structure, financial performance, firm profitability, firm value
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  • 公司的價值是一個非常重要的點,因為它反映了公司,可以影響投資者的看法。公司價值的目的是通過最大化股價來最大化公司所有者的繁榮。這些主要研究目標是了解企業規模、企業年齡、資本結構、財務績效和企業盈利能力對企業價值的影響。
    本研究是因果研究,旨在分析 2015 年至 2019 年期間資本結構、公司年齡、公司規模、財務業績和公司盈利能力對公司價值(案例研究:在 LQ-45 指數上市的公司股票)的影響。
    研究結果表明,公司年齡、資本結構和財務績效對公司價值有顯著和積極的影響。另一方面,公司規模和公司盈利能力對公司價值的影響微乎其微,而且是負面的。決定係數 (R2) 為 0.382。這表明公司價值變化的 38.2% 是由公司規模、公司年齡、資本結構、財務業績和公司盈利能力的變化引起的。本研究未涵蓋的其他因素解釋了價值公司中未考慮的 61.8% 的可變性。
    結果顯示相關係數(R)為0.618,正相關係數表明企業規模、企業年齡、資本結構、財務績效和企業盈利能力的增加將對應於企業價值的增加,因此暗示存在直接關係變量之間


    The value of a company is a very important point because it reflects the company which can affect the perceptions of investors. The purpose of firm value is to maximize the prosperity of the company owners by maximizing the share price. These main research objectives are as to know the influence of firm size, firm age, capital structure, financial performance and firm profitability on firm value.
    This research is causal research where it is design to analyze the effect of capital structure, firm age, firm size, financial performance and firm profitability on firm value (case study: company stock that listed in LQ-45 Index) period 2015 -2019.
    Findings indicate that firm age, capital structure and financial performance affect firm value significantly and positively. On the other hand, firm size and firm profitability influences firm value insignificantly and negatively. The coefficient of determination (R2 ) was 0.382. This is an indication that 38.2% of variation in value firm was accounted for by changes in firm size, firm age, capital structure, financial performance, and firm profitability. The unaccounted 61.8% of variability in value firm was explained by other factors not covered in this study.
    The results shows the coefficient of correlation (R) was 0.618, the positive correlation coefficient indicates that an increase in firm size, firm age, capital structure, financial performance, and firm profitability would correspond to increase in value firm, thus implying a direct relationship between the variables

    ABSTRACT i ACKNOWLEDGEMENTS ii LIST OF CONTENTS iii LIST OF TABLES v LIST OF FIGURES vi CHAPTER 1.INTRODUCTION 1 1.1 Research Background 1 1.2 Research Objectives 4 1.3 Statements of Research Problems 4 1.4. Research Flowchart 5 CHAPTER 2: LITERATURE REVIEW 7 2.1 Agency Theory 8 2.2 Firm Value 8 2.3 Firm Size 9 2.4. Firm Age 10 2.5 Capital Structure 11 2.6 Financial Performance 12 2.7 Firm Profitability 13 CHAPTER 3: METHODOLOGY 15 3.1 Type of Research 15 3.2 Data Collection Method 15 3.3 Research Population and Sampling 15 3.4 Operational Definitions and Measurement of Research Problem 16 3.5 Data Analysis 17 3.5.1 Classic Assumption Testing 17 3.5.2 Multiple Regression Analysis 19 3.5.3 Hypothesis Testing 20 CHAPTER 4: RESULTS AND ANALYSIS 23 4.1 Descriptive Statistic 23 4.2. Classical Assumption Test 26 4.2.1 Normality Test 26 4.2.2 Multicollinearity Test 27 4.2.3 Autocorrelation Test 29 4.2.4 Heteroscedasticity 29 4.3. The Regression Results 30 4.3.1 Determination and Correlation Coefficient 30 4.3.2 Regression Equation 32 4.4. Hypothesis Results 34 4.4.1 F-Test 36 4.4.2 T-Test 38 4.5. Discussion 46 CHAPTER 5: CONCLUSIONS 49 5.1 Research Conclusions 49 5.1 Research Limitations 51 5.1 Research Conclusions 51 References 52 Appendix 54

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    全文公開日期 2031/08/19 (校外網路)
    全文公開日期 2031/08/19 (國家圖書館:臺灣博碩士論文系統)
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