Analisis Pengaruh Kepemilikan Manajerial Dan Kepemilikan Institusional Terhadap Nilai Perusahaan Dengan Struktur Modal Sebagai Variabel Intervening Pada Perusahaan Manufaktur Yang Tergabung Dalam Daftar Efek Syariah

This study aims to analyze the effect of managerial ownership and institutional ownership on firm value with capital structure as intervening variable. Sample in this research is a number of 73 manufacturing companies incorporated in the List of Sharia Securities in 2012-2016. Techniques in sampling this study using purposive sampling. Managerial ownership and institutional ownership as independent variables, capital structures proxied with Debt to Equity Ratio (DER) as intervening variables and firm values proxied by Tobin's Q.The analysis in this study used multiple linear regression which has been done classical assumption test. The results of this study for the first model show the result that managerial ownership and institutional ownership have no effect on capital structure. For the second model shows that managerial ownership and institutional ownership have a negative and significant effect on company value. For the capital structure does not affect the firm's value and capital structure is not included intervening variable in this study, because from the result of the test, the capital structure does not mediate the relationship of managerial ownership and institutional ownership to firm value. Keywords: Managerial Ownership. Institutional Ownership, Capital Structure and Corporate Value