THE INFLUENCE OF ENTERPRISE RISK MANAGEMENT, LEVERAGE, FIRM SIZE AND PROFITABILITY TO FIRM VALUE IN PROPERTY AND REAL ESTATE COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE (IDX) DURING THE YEARS 2016-2018

The objective of this study is to analyze the effects of Enterprise Risk Management disclosure, leverage, firm size and profitability to firm value which is proxied by Tobins Q. High corporate value can reflect the shareholders wealth. This study uses the Indonesian Capital Market Directory (ICMD). The samples number are 32 companies, with nonprobability sampling methods, particularly purposive sampling technique. This study uses quantitative approach with descriptive analysis methods and panel data regression to test hypotheses using Eviews 10 application. The results of this study indicate that Enterprise Risk Management disclosure has a positive and significant influence on firm value with a significance, leverage and profitability variable also have a positive significant influence on firm value, while firm size has negative influence on firm value. The implication of this research is that where ERM has a positive influence on firm value, it is good for companies to increase ERM disclosure, because the company will be considered to have managed its risks well. Debt policy variables that are proxied by DER and profitability proxied by ROA have a positive effect on firm value. That is, the higher the value of the Debt to Equity Ratio (DER) followed by an increase in the percentage of Return On Assets (ROA), it will increase firm value. However, the companys size variable which is proxied by Ln Total Assets has a negative effect on the value of the company, which indicates that investors dislike the assets of the company that are too high that is not offset by high profits as well.

1.  UEU-Research-18518-16_0717.pdf - 1380 KB

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