The Influence of Ownership Structure, Capital Structure, Dividends, and Auditors on Firm Performance

Sari, Dwi Putri Kartika and Sintha, Lis and Bertuah, Eka and Munandar, Agus (2022) The Influence of Ownership Structure, Capital Structure, Dividends, and Auditors on Firm Performance. American International Journal of Business Management (AIJBM), 5 (2). pp. 51-58. ISSN 2379 106X

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Abstract

This study aims to explore whether the ownership structure, capital structure, dividend and auditor size can affect firm performance which can be strengthened by the presence of control variables firm age, firm size and EPS. This research is a modified study of several reference journals whose research uses secondary data taken from the Indonesia Stock Exchange (BEI) in 2016-2019 using the purposive sampling method. The result is the best measurement of firm performance is Tobin’s Q. Variable ownership structure has insignificant impact to Tobin’s Q and has negative impact to EPS. Variable dividend has negative impact to Tobin’s Q. Equity structure (DER) has positive impact to Tobin’s Q. Variable dividend and Equity structure has insignificant impact to EPS. Auditor Size has insignificant impact to Tobin’s Q and EPS. Variable firm size is significant as control variable while firm age is insignificant as control variable on this study. The results of this study are expected to be useful for firm in improving firm performance and for potential investors to use appropriate analytical tools in measuring firm performance. KEYWORDS - EPS, DER, Dividend, Tobin’s Q.

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