Analisis Faktor-Faktor Yang Mempengaruhi Penciptaan Nilai Pada Perusahaan-Perusahaan di Bursa Efek Jakarta
Keywords:Random probit model, jakarta stock exchange, dividend policy.
This paper studies the value creation process in the Jakarta stock exchange using a sample of 33 listed companies during the period of 2001-2003. The random probit model estimation procedure is used to find out the determinants of the value creation of the selected companies. The results suggest that the probability of creating future values is positively and significantly correlated with profitability factor. The results also indicate that the value creation is affected by size, that is, the probability to create value is stronger in big firms than in small ones.
Authors who publish with this journal agree to the following terms:
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).