Pengaruh Enterprise Risk Management Terhadap Nilai Perusahaan Dimoderasi Ukuran Perusahaan Pada Entitas Pertambangan Batu Bara Yang Terdaftar Di Bursa Efek Indonesia
Abstract
Risk management is an integral component of company strategy. Then, its implementation is carried out as an action to prevent and mitigate risks to the smallest risk level, so that the company can survive on competition. Efforts to improve the quality of risk management implementation can be done through the implementation of integrated risk management, namely the implementation of enterprise risk management (ERM). The purpose of writing this study is to identify the influence of Enterprise Risk Management (ERM) with company size, CR, DAR, TATO and ROA as control variables on company value which is peroxided by Tobin's Q, PBV and PER. The research population is coal mining sub-sector companies listed on the Indonesia Stock Exchange (BEI) in 2010=2013. The method used in this research is multiple linear regression-ordinary least squares and hypothesis testing uses the t test to test the regression coefficient with a significance level of 5 percent. The research results show that ERM, DAR, and ROA have a significant positive direct effect on company value (Tobins' Q). Meanwhile CR, TATO, and SIZE have a negative and significant effect on company value. It was also found that Size moderates the relationship between ERM and Tobin's Q. The research results also show that company value increases along with increases in ERM, CR, DAR, TATO, ROA, and SIZE. The results of this study provide opportunities for further research to develop this research using the Entreprise Risk Index. In addition, the development research can be carried out on manufacturing companies other than mining on the Indonesia Stock Exchange.
Keywords
References
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