Manajemen S-1, Vol. 1 (2013) No. 1

Kinerja Keuangan, Investment Opportunity Set (IOS), dan Siklus Kehidupan Perusahaan (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2007-2011)

Tyara Dwi Putri

Abstract

This study aims to test and provide empirical evidence on the effect of financial performance ratios such as profitability, activity, solvency and market value of the Investment Opportunity Set (IOS) in the company's life cycle stage (establishment, expansion, maturity and decline). Object of study is a manufacturing company listed on the Indonesian Stock Exchange in 2007-2011. A sample of 23 companies selected by purposive sampling method. Hypothesis testing is performed using multiple linear regression analysis with SPSS (Statistical Program for Social Science) 19. The results of this study indicate that the solvency ratio is positive and significant for IOS and the ratio of market value and significant negative effect on the early stages of expansion, profitability ratios have positive and significant impact on the IOS and the ratio of the market value of a negative and significant effect on the final expansion stage. And the stage of maturity no variables that affect to IOS.

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