期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2019
卷号：9
期号：9
页码：1085-1099
DOI：10.6007/IJARBSS/v9-i9/6404
语种：English
出版社：Human Resource Management Academic Research Society
摘要：The purpose of this study to answer some questions on the factors impact on firm value in Indonesia Stock Exchange. This study, in specific, aims to test the gradual effect of macroeconomy and policy of the company on firm value. The concept used in measuring the fundamental macroeconomic factors of interest rates and exchange rates is the concept of the sensitivity of the interest rate and exchange rate factors of each company. While the concept used to measure company policy is capital expenditure and to measure company value is Tobins'q. This study used the samples of the manufacture industries from period 2013-2017, which the stock actively traded in Indonesia Stock Exchange (BEI). The sampling was purposive, and the analytical technique was SEM-PLS. The research outcome that the interest rate has a significant positive effect on firm value; the exchange rate has a significant negative effect on firm value, and the capital expenditure has a significant negative effect on firm value.
