Pengaruh Implementasi Enterprise Risk Management Terhadap Nilai Perusahaan Perbankan di Bursa Efek Indonesia

Abstract

The objective of the research was to analyze the influence of Enterprise Risk Management, Leverage, Firm Size, Firm Growth, and Firm Ownership Structure on Banking Firm Value in BE! (Indonesian Stock Exchange) with Operating Peiformance as moderating variable. Secondary data were gathered from financial statement of 30 banks listed in BE! in the period of 2009-2012 through website www.idx.co.id. The gathered data were analyzed by using multiple linear regression analysis, data panel, and residual test moderation regression with EViews version 7. The result of the research showed that, simultaneously, the variables of Enterprise Risk Management, Leverage, Firm Size, Firm Growth, and Firm Ownership Structure influenced Banking Firm Value in BEJ in the period of 2011-2014. Partially, the variables of Enterprise Risk Management which was proxied with Firm Total Assets and Firm Growth had positive and significant influence on Banking Firm Value, while the variable, of Enterprise Risk Management which was proxied with Interest Risk Management, measured with Net Interest Margin (NETIM) and Value Protecting Risk Management (Hedging), measured with Non Interest Margin (NONI!tf), Leverage which was proxied with Debt to Equity Ratio (DER), and Ownership Structure did not have any significant influence on Firm Value. The variable of Operating Peiformance which was proxied with Operating Profit Margin (OPM) was not moderating variable on Banking Firm Value in BE! in the period of201 i-2014.