RAMADHAN, Muhammad Zamzam Dhaffa (2021) Impact of Tangible Assets and Intangible Assets with Sustainable Growth as Moderating Variable on Value of Firms Listed on Index Growth 30 Periods 2019-2020. Skripsi thesis, Universitas Jenderal Soedirman.

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Abstract

This research is quantitative research on the firms that listed on the Index Growth 30 at the period of 2019 to 2020. This research had a title as : “Impact of Tangible Assets and Intangible Assets with Sustainable Growth as Moderating Variable on Value Of Firms Listed On Index Growth 30 Periods 2019-2020”. This research is based on the unpredictable world of business and how large the business is. So, each company may compete with others and they should maximize their value. This research had purposes to analyze the impact of tangible assets and intangible assets on firm’s value, and the impact of tangible assets and intangible assets on firm’s value with sustainable growth as the moderator of those relations. This research used purposive sampling. The population is firm listed on IDXG30 and the sample 1) should be not newly listed or delisted from 2019 to 2020, and 2) must have the variables that would be researched. The data for this research is collected from financial statements obtained from Indonesian Stock Exchange and yahoo finance. The research use panel data regression due to the use of time-series and cross-section, and moderated regression analysis due to the existence of moderating variable. The result of this research is 1) tangible assets have a significant positive impact on firm’s value, 2) intangible assets have a significant negative impact on firm’s value, 3) sustainable growth is predictor and unable to moderate the impact of tangible assets on firm’s value, and 4) sustainable growth is homologizer and able to moderate the impact of intangible assets on firm’s value. Implications from the conclusion are high portion of tangible assets may result in a company being overvalued. This may be the indicator that investor trust and have a good perception to a company with high portion of tangible assets. In contrast, high portion of intangible assets may result in a company being undervalued. This may indicate that the company may unable to use their intangible assets optimally. However, undervalued company may attract investor to invest if the company have a promising prospect. So, it is suggested that investor should consider other factors such as assets turnover, return on assets, etc. Also, the investor should know what to do when the price is overvalued or undervalued. Sustainable growth as moderator in the effect of tangible assets on firm’s value is categorized as predictor. As the predictor, sustainable growth only stands as a single independent variable and unable to moderate the impact of tangible assets on firm’s value. In contrast, sustainable growth is able to moderate the impact of intangible assets on firm’s value as homologizer. Homoligizer stands as the potential moderator even the sustainable growth has no interaction with intangible assets. As moderator, sustainable growth weakened the effect of intangible assets on firm’s value.

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