PENGARUH LEVERAGE, LIQUIDITY, FIRM SIZE, DAN FREE CASH FLOW TERHADAP FIRM PERFORMANCE DENGAN AGENCY COST SEBAGAI VARIABEL MODERASI

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:	http://repository.untar.ac.id/id/eprint/36314

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