SNA XII - AKPM 87

PENGARUH DIVERSIFIKASI KORPORAT TERHADAP EXCESS VALUE

PERUSAHAAN MANUFAKTUR, PERDAGANGAN GROSIR DAN ECERAN, SERTA

PROPERTI DAN REAL ESTAT YANG TERDAFTAR DI BEI TAHUN 2005 - 2007

Annaria Setionoputri

Institut Bisnis dan Informatika Indonesia

Carmel Meiden

Institut Bisnis dan Informatika Indonesia

Dergibson Siagian

Institut Bisnis dan Informatika Indonesia

ABSTRACT

In recently years, The increases of corporate diversification will become a core of debate, whether that diversification would bring an advantage for corporate or bring negative influence in a long term on competitive excellent company value. The Purpose of this research is to test the influence of corporate diversification to excess value. In this research, we estimated that diversification strategy will increase firm value, especially in manufacture, trading wholesale & retail, and properti & real estate sector in Indonesia. In relation with firm characteristics it shows that leverage, tobinsq, size, age of company, and total segment significantly related with firm value.

Key words: diversification, excess value, firm value, segment sales.