The Influence of Company Size, Managerial Ownership, and Institutional Ownership on Company Value: An Empirical Study on Manufacturing Companies in the Food and Beverage Sub-Sector Listed on the Indonesia Stock Exchange for the 2021–2024 Period
Abstract
This study aims to evaluate the influence of company size, managerial ownership, and institutional ownership on company value in manufacturing companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange (IDX) during the period 2021–2024. In this study, the value of the company is expressed in the form of a Price to Book Value (PBV) ratio. The approach used is quantitative with the type of associative research. The selection of samples was carried out purposively and resulted in 80 companies as research objects. The test results showed that the three independent variables, either individually or together, did not have a significant influence on the company's value. This is evidenced by the significance value of the F test of 0.418 and the coefficient of determination (R²) of 0.036, which indicates that the model is only able to explain 3.6% of the total variation in the company's value. These findings indicate that the internal factors studied have not been able to explain the change in company values substantially, so exploration of other variables in follow-up studies is needed to gain a more comprehensive understanding.
Downloads
References
Achmad, S. (2019). The Effect of Capital Structure, Institutional Ownership, Managerial Ownership and Profitability on Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange in 2014-2017.
Adrian, M., & Dini, W. (2024). THE EFFECT OF MANAGERIAL OWNERSHIP, INSTITUTIONAL OWNERSHIP AND PROFITABILITY ON THE VALUE OF FOOD AND BEVERAGE COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE IN 2020-2023. Journal of Accounting Science and Research, 13(1), 87–97. https://talenta.usu.ac.id/politeia/article/view/3955
Akbar, F., & Fahmi, I. (2020). The Effect of Company Size, Profitability and Liquidity on Dividend Policy and Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange. Scientific Journal of Management Economics Students, 5(1), 62–81. http:jim.unsyiah.ac.id/ekm
Budiadnyani, N. P. (2020). The Effect of Management Compensation on Tax Avoidance with Institutional Ownership as a Moderation Variable. Scientific Journal of Accounting and Business, 5(1), 67–90. https://doi.org/10.38043/jiab.v5i1.2429
Damarani, F., Kusbandiyah, A., Amir, A., & Mudjiyanti, R. (2024). The influence of managerial ownership, institutional ownership, debt policy and company size on company value. SCIENTIFIC JOURNAL OF REFLECTION: Economics, Accounting, Management and Business, 7(1), 175–186. https://doi.org/10.37481/sjr.v7i1.794
Dwicahyani, D., Rate, V. P., & Jan, H. B. A. (2022). The Influence of Leverage, Profitability, Company Size, Managerial Ownership and Institutional Ownership on Company ValueConsumer Non-Cyclicals Companies. EMBA Journal , 10(4), 275–286.
Firmansyah, A., Setiawan, T. A., & Fathurahman, F. (2020). Company Value: Debt Policy, Good Corporate Governance, Cash Holding. Journal of Accounting and Business, 20(2), 237. https://doi.org/10.20961/jab.v20i2.568
Jullia, M., & Finatariani, E. (2024). The Influence of Company Growth, Managerial Ownership and Institutional Ownership on Company Value. ACADEMIC: Journal of Humanist Students, 4(3), 913–923. https://doi.org/10.37481/jmh.v4i3.1024
Lestari, D., & Sulistiorini, J. (2022). The Influence of Profitability, Capital Structure, Company Size, Institutional and Concentrated Ownership on the Value of Consumer Goods Companies. The Effect of Profitability, Capital Structure, Company Size, Institutional and Concentrated Ownership on Consumer Goods Company Value, 9(1), 2–2. http://112.78.142.42/index.php/kalbisocio/article/view/206/150
Meifari, V. (2023). THE EFFECT OF COMPANY SIZE ON COMPANY VALUE. AT-TAWASSUTH: Journal of Islamic Economics, 3(I), 1–19.
Muhammad Septiady Yusra. (2022). The Influence of Managerial Ownership and Institutional Ownership on Company Value (Study on Food and Beverage Industry Companies Listed on the Indonesia Stock Exchange for the 2015-2019 Period). 10(1), 3–4.
Supriyanto, & Sasongko, F. N. (2025). The Connection Between Goals and Rewards in a Social Entrepreneurship. Danadyaksa: Post Modern Economy Journal, 2(2), 134–153. https://doi.org/10.69965/danadyaksa.v2i2.116
Toha, M. (2019). Derivatif Versus Ekonomi Syariah. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 2(1), 91-102. https://doi.org/10.31538/iijse.v2i1.328
Toha, M., & Manaku, A. A. C. (2020). Perkembangan Dan Problematika Pasar Modal Syariah Di Indonesia. Al-tsaman: Jurnal Ekonomi dan Keuangan Islam, 2(1), 135-144. Retrieved from https://ejournal.uas.ac.id/index.php/Al-tsaman/article/view/312
Copyright (c) 2025 Wahyuni Seri, Endarwati Endarwati
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
