ABSTRACT: The purpose of this
research is to develop a model of the determinants of capital structure,
innovation and firm value of the psychological aspect, which is controlled by
company-specific variables and blockholder ownership structure. This research
was conducted in manufacturing industry in Indonesian Stock Exchange on the
company. Partial Last Square is used as the method of analysis. There were
twenty two companies which were analyzed The study found that capital structure
determined by an overconfidence attitude of managers who are supported by
company’s internal factors. In addition to determining capital structure,
managers’ overconfidence also plays a role in the innovation decision and the
firm value determination. Financing innovation in is much more determined by
internal sources. The value of manufacturing company in Indonesia is more
determined by internal factors and the structure of blockholder ownership.
Keywords: overconfidence,
capital structure, innovation, blockholder, internal factors, firm value
Penulis: Sujono, M.S. Idrus,
Made Sudarma, Solimun
Kode Jurnal: jpmanajemendd110045
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