Desideria, Elvina (2021) PENGARUH LEVERAGE, LIQUIDITY, FIRM SIZE, DAN FREE CASH FLOW TERHADAP FIRM PERFORMANCE DENGAN AGENCY COST SEBAGAI VARIABEL MODERASI. Masters thesis, UNIVERSITAS TARUMANAGARA.
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Abstract
Teori keagenan digunakan sebagai dasar untuk menyelesaikan konflik
agensi. Masalah penggunaan free cash flow menyebabkan pihak agent melakukan
perilaku moral hazard dan menurunnya kinerja perusahaan.
Hipotesis dalam penelitian ini adalah adanya agency cost diharapkan dapat
memperlemah pengaruh negatif leverage terhadap firm performance dan
memperkuat pengaruh positif antara liquidity, firm size, dan free cash flow
terhadap firm performance. Penelitian ini menggunakan data laporan keuangan
perusahaan yang terdaftar dalam index LQ45 di BEI selama periode 2017-2019.
Data dianalisis dengan uji asumsi klasik dan analisis regresi linear berganda.
Hasil penelitian ini menunjukkan bahwa agency cost melemahkan pengaruh
negatif leverage terhadap firm performance. Agency cost memperkuat pengaruh
positif free cash flow terhadap firm performance. Agency cost memperkuat
pengaruh negatif firm size terhadap firm performance. Namun, liquidity yang
dimoderasi Agency Cost tidak berpengaruh terhadap Firm Performance.
Kata Kunci : Kinerja Perusahaan, Leverage, Likuiditas, Ukuran Perusahaan,
Arus Kas Bebas, Biaya Agensi.
Agency theory is used as the basis for resolving agency conflicts. Problem
of using free cash flow which causes the agent to engage in moral hazard
behavior and decrease company performance.
The hypothesis in this study is that agency cost is expected to weaken the
negative effect of leverage on firm performance and strengthen the positive
influence between liquidity, firm size, and free cash flow on firm performance.
This study uses data from the financial statements of companies listed in the LQ45
index on the IDX during the 2017-2019 period. Data were analyzed using
classical assumption test and multiple linear regression analysis.
The result of this study indicate that the influence of agency cost is negative
on company performance. Agency cost has a positive effect on free cash flow on
company performance. Agency cost has a negative effect on firm size on company
performance. However, liquidity that is moderated by Agency Cost has no effect
on Company Performance.
Keyword : Leverage, Liquidity, Firm Size, Free Cash Flow, Firm Performance,
Agency Cost.
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | Skripsi/Tugas Akhir Tesis Skripsi/Tugas Akhir > Fakultas Ekonomi |
| Divisions: | Fakultas Ekonomi > Akuntansi |
| Depositing User: | FE Perpus |
| Date Deposited: | 20 Jun 2022 04:19 |
| Last Modified: | 10 Apr 2023 01:35 |
| URI: | https://repotest.untar.ac.id/id/eprint/36314 |
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