FEBRIANTI, NENSI EVITA (2025) PENGARUH FINANCIAL DISTRESS TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI MODERASI. S1 thesis, Universitas PGRI Madiun.
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Abstract
This study aims to examine the effect of financial distress on firm value and the role of managerial ownership as a moderating variable in property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. Firm value is proxied by the Price to Book Value (PBV) ratio, while financial distress is measured using the Altman Z-Score model. Managerial ownership is calculated based on the percentage of shares owned by managers to the total outstanding shares. This study uses a quantitative approach with multiple linear regression methods and moderated regression analysis (MRA). The study sample consisted of 48 companies selected through purposive sampling, with a total of 240 observations. The results show that financial distress has a negative and significant effect on firm value. This means that the higher the level of financial distress in a company, the lower its value. Furthermore, managerial ownership has been shown to significantly moderate this relationship. The greater the proportion of managerial ownership, the smaller the negative impact of financial distress on firm value. This indicates that when managers have a financial interest in the company.
| Item Type: | Thesis/Skripsi/Tugas Akhir (S1) |
|---|---|
| Kata Kunci: | Financial Distress; Firm Value; Managerial Ownership; Altman Z-Score; PBV; Moderated Regression Analysis |
| Subjects: | A Social Sciences > HG Finance |
| Divisions: | Fakultas Keguruan dan Ilmu Pendidikan > Pendidikan Akuntansi |
| Depositing User: | FEBRIANTI EVITA NENSI |
| Date Deposited: | 25 Aug 2025 04:29 |
| Last Modified: | 25 Aug 2025 04:29 |
| URI: | http://eprint.unipma.ac.id/id/eprint/4236 |
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