THE EFFECT OF GROWTH OPPORTUNITY, FINANCIAL LEVERAGE AND CAPITAL EXPENDITURE TO FIRM VALUE ON CASE STUDY OF AGRICULTURAL SECTOR COMPANIES IN INDONESIA STOCK EXCHANGE

Abstract

This research is aimed to analyze the effect of Growth Opportunity, Financial Leverage and Capital Expenditure to firm value in agricultural sector companies listed in the Indonesia Stock Exchange. The method used to determine the sample in this research is purposive sampling, sample based on specified criteria. The number of companies that exist in the agricultural sector is 17 companies, but only 14 companies appropriate the criteria.

The result shows that Growth Opportunity, Financial Leverage and Capital Expenditure simultaneously do not have a significant effect to firm value. Because F test value is 0.202 which is greater than the significance level (α) of 0.05. Based on the calculation result of multiple regression analysis found that Growth Opportunity, Financial Leverage and Capital Expenditure does not significantly influence to firm value, with Growth Opportunity variable coefficients at 0.181, Financial Leverage variable coefficient at 0.421, and Capital Expenditure variable coefficient at 0.114.

Keywords: Growth Opportunity, Financial Leverage, Capital Expenditure, firm value.