ANALISIS PENGARUH SIMULTAN ANTARA INVESTMENT OPPORTUNITY SET DENGAN MODAL KERJA DAN PENGARUHNYA TERHADAP KINERJA PERUSAHAAN

Eni Wuryani, Dianwicaksih Arieftiara, Merliana Dwinda Yanthi

Abstract


Penelitian ini bertujuan untuk menganalisis pengaruh simultan antara Investment Opportunity Set dan modal kerja, dan mengkaji dampaknya terhadap kinerja perusahaan. Dengan menggunakan perusahaan  manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) dari tahun 2012 hingga 2015, dan Two Stage Linear Regression (TSLS), penelitian ini menemukan bahwa Investment Opportunity Set mempengaruhi modal kerja, dan sebaliknya. Hasil ini berarti bahwa Investment Opportunity Set dan modal kerja berpengaruh secara simultan. Lebih lanjut, penelitian ini menemukan bahwa efek simultan berpengaruh positif terhadap kinerja perusahaan. Investment Opportunity Set yang mempertimbangkan pengaruh modal kerja secara empiris meningkatkan kinerja perusahaan. Namun, penelitian ini gagal untuk menunjukkan bahwa modal kerja, yang telah mempertimbangkan pengaruh Investment Opportunity Set, berpengaruh  positif terhadap kinerja perusahaan. Penelitian ini adalah yang pertama menyelidiki efek simultan antara Investment Opportunity Set dan modal kerja, dan bagaimana hal itu mempengaruhi kinerja perusahaan. Kontribusi penelitian ini akan memberikan bukti empiris dari pengaruh Investment Opportunity Set  pada modal kerja, dan sebaliknya, dan dampaknya terhadap kinerja perusahaan juga.


Keywords


Investment Opportunity Set; Kinerja perusahaan; Modal kerja

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DOI: http://dx.doi.org/10.51804/econ12.v3i2.774


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