文章基本信息

标题：The Effect of Capital Structure and Managerial Ownership on Financial Performance with Agency Cost as Intervening Variables
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作者：Elisabeth Yohana ; Abdul Rivai ; Wagiarto Hoesin 等
期刊名称：International Journal of Advances in Engineering and Management
电子版ISSN：2395-5252
出版年度：2022
卷号：4
期号：2
页码：1332-1340
DOI：10.35629/5252-040211801187
语种：English
出版社：IJAEM JOURNAL
摘要：This study applies a comparative causal method with a quantitative approach with regard to descriptive statistics on analysis with the object of research in the form of manufacturing sub sector miscellaneous industry listed on Indonesia Stock Exchange during the period 2016 - 2018. This study aims to prove the existence or whether or not the effect of Debt to Equity Ratio (DER) and Managerial Ownership (KM) on Return on Equity (ROE) through Agency Cost as an intervening variable. Data collection techniques applied in this study is to use the library research method in connection with the application of secondary data. The research population is 51 manufacturing sub-sector miscellaneous industry. While the research sample was 35 listed manufacturing sub sector miscellaneous industry obtained by applying the purposive sampling method. Data analysis techniques applied in this study were multiple regression analysis, path analysis, coefficient of determination (R2) and hypothesis testing using the IBM SPSS Statistics version 16. The data analysis was performed after all the classic assumption test criteria were met through the application of the normality test, autocorrelation, heteroscedasticity and multicollinearity. Based on the test results using a significance level of 5%, it can be concluded that: (1) DER has a negative and significant effect on ROE with a regression coefficient of 0.639 and significant amounted to 0.000. (2) KM has a positive and not significant effect on ROE with a regression coefficient of 0.068 and significant of 0.558 (3) DER has a negative effect on ROE with agency cost as an intervening variable with a path coefficient of path analysis 0.1005 . (4) KM has a positive effect on ROE with agency cost as an intervening variable with a path coefficient of path analysis 0.0839.
关键词：Financial Performance;Capital Structure;Managerial Ownership;Agency Cost