ABSTRACT

This study analyzes the determinants of corporate value with the revaluation of fixed assets as moderators of investment opportunity set, leverage, asymmetric information, ownership structure, liquidity and firm size. The purpose of this study is to test and analyze the determinants of corporate value with the revaluation of fixed assets as moderators. The technique of determining the sample is by purposive sampling method from Indonesia Stock Exchange data from 2012-2016 with the criteria of the company using fixed asset revaluation in its financing system. Data analysis technique using partial least square. The results showed that Investment Opportunity Set did not affect the value of the company. Leverage has a significant positive effect on company value. Asymmetry information has no effect on company value. The ownership structure has no effect on firm value. Liquidity has a significant positive effect on firm value. Company size negatively affects firm value. The revaluation of fixed assets negatively affects the value of the company. The revaluation of a fixed asset can not be as a moderator of a set of investment opportunities and firm value. The revaluation of fixed assets can be a strong moderator of leverage and firm value. The revaluation of fixed assets can not be as moderator of information asymmetry and firm value. The revaluation of a fixed asset can be a moderator of the ownership structure and firm value but if no fixed asset revaluation control variable can not be a moderator of the ownership structure and firm value. The revaluation of fixed assets can not be as a moderator of corporate liquidity and value. Fixed asset revaluation can be as a moderator of company size and firm value.

Keywords: revaluation of fixed assets, determinants of company value, corporate value