Pengaruh Kebijakan Pendanaan, Risk Based Capital dan Ukuran Perusahaan terhadap Nilai Perusahaan Asuransi dengan Laba Perusahaan sebagai Variabel Moderating

  Lampiran 1: PROSES PENENTUAN SAMPEL NO KODE EMITEN KRITERIA SAMPEL

  9 PNIN Paninvest Tbk

  7 ASJT Asuransi Jasa Tania Tbk

  √ √ √

  6

  8 ASRM Asuransi Ramayana Tbk

  √ √ √

  7

  √ √ √

  5

  8

  10 LPGI Lippo General Insurance Tbk

  √ √ √

   9

  11 MREI Maskapai Reasuransi Indonesia Tbk

  √ √ √

  6 ASMI Asuransi Mitra Maparya Tbk - - - -

  √ √ √

  1

  √ √ √

  2

  3

  1 ABDA Asuransi Bina Data Arta Tbk

  √ √ √

  1

  2 AHAP Asuransi Harta Aman Pratama Tbk

   2

  5 ASDM Asuransi Dayin Mitra Tbk

  3 AMAG Asuransi Multi Artha Guna Tbk

  √ √ √

  3

  4 ASBI Asuransi Bintang Tbk

  √ √ √

  4

  10

  Lampiran 2: Daftar Sampel Perusahaan Asuransi Tahun 2007 – 2013 NO KODE EMITEN

  1 ABDA Asuransi Bina Data Arta Tbk

  2 AHAP Asuransi Harta Aman Pratama Tbk

  3 AMAG Asuransi Multi Artha Guna Tbk

  4 ASBI Asuransi Bintang Tbk

  5 ASDM Asuransi Dayin Mitra Tbk

  6 ASJT Asuransi Jasa Tania Tbk

  7 ASRM Asuransi Ramayana Tbk

  8 PNIN Paninvest Tbk

  9 LPGI Lippo General Insurance Tbk

  10 MREI Maskapai Reasuransi Indonesia Tbk

  

Lampiran 3:

Daftar Kebijakan hutang (DER) , Total Aset(TA) dan Risk BasedCapital(RBC)

perusahaan asuransi

Tahun 2007 – 2013

X1 X2

  M)

  41 ASDM 15-Des-98 2008 1.50 164.75 257.516336

  40 ASBI 29-Nop-89 2008 1.50 143.07 200.327602

  40 ASBI 29-Nop-89 2009 1.14 240.08 186.853913

  40 ASBI 29-Nop-89 2010 1.66 195.75 243.601400

  40 ASBI 29-Nop-89 2011 1.42 167.90 245.566009

  40 ASBI 29-Nop-89 2012 2.11 164.45 369.709147

  40 ASBI 29-Nop-89 2013 2.12 130.75 398.947898

  41 ASDM 15-Des-98 2007 1.26 155.55 236.690142

  41 ASDM 15-Des-98 2009 1.33 198.38 262.884632

  24 AMAG 23-Des-05 2013 0.72 302.00 1478.728388

  41 ASDM 15-Des-98 2010 1.38 200.92 308.122516

  41 ASDM 15-Des-98 2011 1.26 173.12 331.259303

  41 ASDM 15-Des-98 2012 4.68 160.75 996.178690

  41 ASDM 15-Des-98 2013 4.56 213.97 1099.220176

  45 ASJT 23-Des-03 2007 0.76 136.00 155.437738

  45 ASJT 23-Des-03 2008 0.77 154.00 160.000134

  45 ASJT 23-Des-03 2009 0.78 46.72 178.337014

  45 ASJT 23-Des-03 2010 1.62 179.90 273.917544

  40 ASBI 29-Nop-89 2007 1.47 122.59 181.709227

  24 AMAG 23-Des-05 2012 0.76 343.00 1349.457388

  3 ABDA 06-Jul-89 2007 1.59 182.21 270.809359

  13 AHAP 14-Sep-90 2008 0.73 207.00 80.172765

  3 ABDA 06-Jul-89 2008 2.55 149.36 421.304206

  3 ABDA 06-Jul-89 2009 3.18 125.93 518.267704

  3 ABDA 06-Jul-89 2010 3.28 149.57 845.778581

  3 ABDA 06-Jul-89 2011 1.73 283.53 1106.154829

  3 ABDA 06-Jul-89 2012 1.89 312.21 1796.429549

  3 ABDA 06-Jul-89 2013 1.64 476.00 2153.350059

  13 AHAP 14-Sep-90 2007 0.71 137.00 49.503378

  13 AHAP 14-Sep-90 2009 0.91 211.00 100.769779

  X3 Tahun DER RBC ( % ) SIZE/TA (Rp

  13 AHAP 14-Sep-90 2010 1.16 176.00 126.549735

  13 AHAP 14-Sep-90 2011 1.06 149.00 144.971929

  13 AHAP 14-Sep-90 2012 2.05 159.00 252.378052

  13 AHAP 14-Sep-90 2013 1.96 175.00 296.406594

  24 AMAG 23-Des-05 2007 0.86 272.00 365.225041

  24 AMAG 23-Des-05 2008 0.97 123.00 437.340237

  24 AMAG 23-Des-05 2009 0.86 380.00 506.324333

  24 AMAG 23-Des-05 2010 0.86 282.00 654.356727

  24 AMAG 23-Des-05 2011 0.03 302.00 1051.934823

  45 ASJT 23-Des-03 2011 2.07 159.30 241.798783

  1 PNIN 20-Sep-83 2013 0.28 627.00 17.740266

  1 MREI 04-Sep-89 2012 1.42 143.74 779.759863

  1 MREI 04-Sep-89 2011 1.62 150.67 616.185405

  1 MREI 04-Sep-89 2010 1.76 172.57 503.284240

  1 MREI 04-Sep-89 2009 1.37 174.59 337.849783

  1 MREI 04-Sep-89 2008 1.25 194.56 258.600282

  1 MREI 04-Sep-89 2007 1.00 214.88 196.419556

  1 LPGI 22-Jul-97 2013 0.57 332.25 1712.065603

  1 LPGI 22-Jul-97 2012 0.45 305.05 1447.602269

  1 LPGI 22-Jul-97 2011 0.36 365.10 894.611734

  1 LPGI 22-Jul-97 2010 0.27 339.07 883.222640

  1 LPGI 22-Jul-97 2009 0.27 3269.4 6 616.236644

  1 LPGI 22-Jul-97 2008 0.22 432.87 724.796521

  1 LPGI 22-Jul-97 2007 0.22 377.02 659.656925

  1 PNIN 20-Sep-83 2012 0.40 672.00 13.059093

  45 ASJT 23-Des-03 2012 1.18 165.81 189.157638

  11.572771

  1 PNIN 20-Sep-83 2011 0.44 1002.0

  1 PNIN 20-Sep-83 2010 0.41 1165.0 9 9.358982

  1 PNIN 20-Sep-83 2009 0.43 860.70 8.101058

  1 PNIN 20-Sep-83 2008 0.35 702.33 6.808761

  1 PNIN 20-Sep-83 2007 0.54 711.43 7.115875

  48 ASRM 19-Mar-90 2013 5.37 218.75 1167.762378

  48 ASRM 19-Mar-90 2012 5.89 227.00 1070.925850

  48 ASRM 19-Mar-90 2011 4.93 232.00 810.254708

  48 ASRM 19-Mar-90 2010 4.99 174.00 726.585192

  48 ASRM 19-Mar-90 2009 1.87 158.00 364.014878

  48 ASRM 19-Mar-90 2008 1.79 151.00 315.273868

  48 ASRM 19-Mar-90 2007 1.40 163.00 244.720875

  45 ASJT 23-Des-03 2013 1.33 171.98 202.092221

  1 MREI 04-Sep-89 2013 1.42 142.96 985.401180

  

Lampiran 4:

Daftar Laba (Profit) Perusahaan asuransi

Tahun 2007 – 2013

  40 ASBI 29-Nop-89

  2007 3.038461

  41 ASDM 15-Des-198

  2013 13.901625

  40 ASBI 29-Nop-89

  2012 28.087634

  40 ASBI 29-Nop-89

  2011 3.205976

  2010 2.676579

  2008 5.021707

  40 ASBI 29-Nop-89

  2009 3.636627

  40 ASBI 29-Nop-89

  2008 5.968023

  40 ASBI 29-Nop-89

  2007 12.295700

  40 ASBI 29-Nop-89

  41 ASDM 15-Des-198

  41 ASDM 15-Des-198

  24 AMAG 23-Des-05

  2007 5.971848

  45 ASJT 23-Des-03

  2010 12.006616

  45 ASJT 23-Des-03

  2009 9.206094

  45 ASJT 23-Des-03

  2008 3.837369

  45 ASJT 23-Des-03

  45 ASJT 23-Des-03

  2009 7.695615

  2013 32.171228

  41 ASDM 15-Des-198

  2012 28.742700

  41 ASDM 15-Des-198

  2011 27.542340

  41 ASDM 15-Des-198

  2010 14.150154

  41 ASDM 15-Des-198

  2013 126.770234

  2012 155.403118

  M ode ra t ing Tahun Profit(Rp M)

  2011 87.622183

  13 AHAP 14-Sep-90

  2007 1.308973

  13 AHAP 14-Sep-90

  2013 151.478596

  3 ABDA 06-Jul-89

  2012 118.689198

  3 ABDA 06-Jul-89

  3 ABDA 06-Jul-89

  13 AHAP 14-Sep-90

  2010 45.296577

  3 ABDA 06-Jul-89

  2009 26.055161

  3 ABDA 06-Jul-89

  2008 14.087449

  3 ABDA 06-Jul-89

  2007 12.939515

  3 ABDA 06-Jul-89

  2008 2.564756

  2009 7.277304

  24 AMAG 23-Des-05

  24 AMAG 23-Des-05

  2011 89.946812

  24 AMAG 23-Des-05

  2010 59.362441

  24 AMAG 23-Des-05

  2009 49.953230

  24 AMAG 23-Des-05

  2008 29.829184

  2007 19.289476

  13 AHAP 14-Sep-90

  24 AMAG 23-Des-05

  2013 21.070540

  13 AHAP 14-Sep-90

  2012 15.455184

  13 AHAP 14-Sep-90

  2011 14.930725

  13 AHAP 14-Sep-90

  2010 9.413123

  2011 12.192731

  45 ASJT 23-Des-03

  2013 79.133870

  2007 15.398883

  1 LPGI 22-Jul-97

  2008 12.094053

  1 LPGI 22-Jul-97

  2009 23.127178

  1 LPGI 22-Jul-97

  2010 54.058755

  1 LPGI 22-Jul-97

  2011 42.014406

  1 LPGI 22-Jul-97

  2012 42.621869

  1 LPGI 22-Jul-97

  1 MREI 04-Sep-89

  2013 1.329535

  2007 12.587392

  1 MREI 04-Sep-89

  2008 21.151085

  1 MREI 04-Sep-89

  2009 31.736315

  1 MREI 04-Sep-89

  2010 46.002636

  1 MREI 04-Sep-89

  2011 63.018466

  1 MREI 04-Sep-89

  2012 98.010518

  1 MREI 04-Sep-89

  1 LPGI 22-Jul-97

  1 PNIN 20-Sep-83

  2012 12.461651

  48 ASRM 19-Mar-90

  45 ASJT 23-Des-03

  2013 5.653945

  48 ASRM 19-Mar-90

  2007 15.502773

  48 ASRM 19-Mar-90

  2008 17.578517

  48 ASRM 19-Mar-90

  2009 22.048555

  48 ASRM 19-Mar-90

  2010 24.382856

  48 ASRM 19-Mar-90

  2011 25.835982

  2012 33.042956

  2012 1.264168

  48 ASRM 19-Mar-90

  2013 34.522637

  1 PNIN 20-Sep-83

  2007 0.355348

  1 PNIN 20-Sep-83

  2008 0.314815

  1 PNIN 20-Sep-83

  2009 0.400168

  1 PNIN 20-Sep-83

  2010 0.575848

  1 PNIN 20-Sep-83

  2011 1.036941

  1 PNIN 20-Sep-83

  2013 100.840158

  

Lampiran 5:

Daftar Nilai perusahaan asuransi (PER)

Tahun 2007 – 2013

  

Tahun PER

  ABDA 06-Jul-89 2007 3.38 ABDA 06-Jul-89 2008 2.69 ABDA 06-Jul-89 2009 2.31 ABDA 06-Jul-89 2010 2.29 ABDA 06-Jul-89 2011 4.75 ABDA 06-Jul-89 2012 9.58 ABDA 06-Jul-89 2013 17.42 AHAP 14-Sep-90 2007 98.09 AHAP 14-Sep-90 2008 16.76 AHAP 14-Sep-90 2009 7.84 AHAP 14-Sep-90 2010 6.64 AHAP 14-Sep-90 2011 6.94 AHAP 14-Sep-90 2012 5.74 AHAP 14-Sep-90 2013 3.90 AMAG 23-Des-05 2007 5.27 AMAG 23-Des-05 2008 2.08 AMAG 23-Des-05 2009 2.38 AMAG 23-Des-05 2010 3.01 AMAG 23-Des-05 2011 2.59 AMAG 23-Des-05 2012 4.49 AMAG 23-Des-05 2013 3.91 ASBI 29-Nop-89 2007 4.44 ASBI 29-Nop-89 2008 10.59 ASBI 29-Nop-89 2009 13.81 ASBI 29-Nop-89 2010 17.00 ASBI 29-Nop-89 2011 5.29 ASBI 29-Nop-89 2012 3.25 ASBI 29-Nop-89 2013 4.25 ASDM 15-Des-198 2007 18.13 ASDM 15-Des-198 2008 4.85 ASDM 15-Des-198 2009 6.00 ASDM 15-Des-198 2010 8.11 ASDM 15-Des-198 2011 4.39 ASDM 15-Des-198 2012 4.97 ASDM 15-Des-198 2013 3.86 ASJT 23-Des-03 2007 14.48 ASJT 23-Des-03 2008 32.31 ASJT 23-Des-03 2009 13.55 ASJT 23-Des-03 2010 10.50 ASJT 23-Des-03 2011 10.24 ASJT 23-Des-03 2012 10.95 ASJT 23-Des-03 2013 21.05

  ASRM 19-Mar-90 2007 1.02 ASRM 19-Mar-90 2008 0.72 ASRM 19-Mar-90 2009 0.93 ASRM 19-Mar-90 2010 1.57 ASRM 19-Mar-90 2011 4.14 ASRM 19-Mar-90 2012 6.45 ASRM 19-Mar-90 2013 6.11 PNIN 20-Sep-83 2007 4.11 PNIN 20-Sep-83 2008 2.09 PNIN 20-Sep-83 2009 2.57 PNIN 20-Sep-83 2010 4.00 PNIN 20-Sep-83 2011 2.47 PNIN 20-Sep-83 2012 2.66 PNIN 20-Sep-83 2013 3.41 LPGI 22-Jul-97 2007 5.24 LPGI 22-Jul-97 2008 4.57 LPGI 22-Jul-97 2009 3.70 LPGI 22-Jul-97 2010 3.22 LPGI 22-Jul-97 2011 6.04 LPGI 22-Jul-97 2012 7.01 LPGI 22-Jul-97 2013 6.20 MREI 04-Sep-89 2007 4.53 MREI 04-Sep-89 2008 2.09 MREI 04-Sep-89 2009 3.48 MREI 04-Sep-89 2010 4.66 MREI 04-Sep-89 2011 4.75 MREI 04-Sep-89 2012 6.87 MREI 04-Sep-89 2013 10.08

  Lampiran 06: Tabel Jadwal Kegiatan Penelitian Nama : TENG SAUH HWEE NIM : 127017018 Program Studi : MAGISTER AKUNTANSI Fakultas : EKONOMI Universitas : SUMATERA UTARA

  Tahun 2014 Uraian Kegiatan Juli Agustus September Oktober November Desember Januari

  I II

  III

  IV I

  II III

  IV I

  II III

  IV I

  II III

  IV I

  II III

  IV I

  IV I

  II III

  IV Penyusunan dan

  II III

  Pengajuan Proposal Penelitian Bimbingan Proposal Kolokium Pengumpulan dan Pengolahan Data Penulisan Tesis dan Bimbingan Seminar Hasil Ujian Akhir / Sidang Akhir Tesis

  Universitas Sumatera Utara

  

Lampiran 7 :

HASIL UJI SPSS

1. HASIL ANALISIS DESKRIPTIF Descriptive Statistics

  N Minimum Maximum Mean Std. Deviation DER (Ratio) 70 .03 5.89 1.5241 1.28504 RBC (%)

  70 46.72 3269.46 314.5949 414.88791 TA (Rp.M)

  70 6.81 2153.35 515.9218 478.52211 PR (Rp.M) 70 .31 155.40 30.4028 36.16122 NILAI PERUSAHAAN (Ratio) 70 .72 98.09 7.8396 12.23612 Valid N (listwise)

  70 2.

HASIL UJI NORMALITAS DENGAN NORMAL P-PLOT

3. HASIL UJI NORMALITAS DENGAN NORMAL P-PLOT Setelah transform data

  4. HASIL UJI NORMALITAS DENGAN HISTOGRAM

  5. HASIL UJI NORMALITAS DENGAN HISTOGRAM Setelah transform data

  

6. HASIL UJI NORMALITAS DENGAN NON PARAMETRIC TEST

KOLMOGOROV SMIRNOV

One-Sample Kolmogorov-Smirnov Test

  Unstandardized Residual

  N

  70 Normal Mean .0000000

  a,b

  Parameters Std. Deviation 11.12807520 Most Extreme Absolute .227 Differences Positive .227

  Negative -.208 Kolmogorov-Smirnov Z 1.901 Asymp. Sig. (2-tailed) .001 a. Test distribution is Normal.

  b. Calculated from data.

  

7. HASIL UJI NORMALITAS DENGAN NON PARAMETRIC TEST

KOLMOGOROV SMIRNOV

Setelah Transform data

  One-Sample Kolmogorov-Smirnov Test

  Unstandardized Residual

  N

  70 Normal Mean .0000000

  a,b

  Parameters Std. Deviation .59946040 Most Extreme Absolute .079 Differences Positive .060

  Negative -.079 Kolmogorov-Smirnov Z

  .659 Asymp. Sig. (2-tailed)

  .777

8. HASIL UJI MULTIKOLINIERITAS a Coefficients

  Unstandardized Standardized Collinearity Coefficients Coefficients Statistics

  Toleranc Model B Std. Error Beta T Sig. e

  VIF 1 (Constant) 12.951 3.106 4.170 .000 DER (Ratio) -1.727 1.384 -.181 -1.248 .217 .689 1.451 RBC (%) -.005 .004 -.176 -1.368 .176 .884 1.131 SIZE (Rp.M) .002 .007 .079 .301 .765 .212 4.711 PROFIT -.062 .085 -.183 -.728 .469 .230 4.356 (Rp.M)

  a Coefficients

  Unstandardized Standardized Collinearity Coefficients Coefficients Statistics

  Toleranc Model B Std. Error Beta T Sig. e

  VIF 1 (Constant) 12.951 3.106 4.170 .000 DER (Ratio) -1.727 1.384 -.181 -1.248 .217 .689 1.451 RBC (%) -.005 .004 -.176 -1.368 .176 .884 1.131 SIZE (Rp.M) .002 .007 .079 .301 .765 .212 4.711 PROFIT -.062 .085 -.183 -.728 .469 .230 4.356 (Rp.M)

   HASIL UJI MULTIKOLINIERITAS Setelah transform 9. a Coefficients

  Standardize Unstandardized d Collinearity

  Coefficients Coefficients Statistics Toleranc

  Model B Std. Error Beta T Sig. e

  VIF 1 (Constant) 2.213 1.198 1.847 .069 lnx1 -.174 .122 -.190 -1.422 .160 .686 1.457 lnx2 -.374 .168 -.297 -2.226 .030 .685 1.459 lnx3 .518 .178 .872 2.904 .005 .136 7.371 lnx4 -.545 .162 -.986 -3.370 .001 .143 6.994 a. Dependent Variable: NILAI PERUSAHAAN (Ratio)

  10. HASIL UJI HETEROSKEDASTISITAS DENGAN SCATTERPLOT

  11. HASIL UJI HETEROSKEDASTISITAS DENGAN SCATTERPLOT Setelah transform data

12. HASIL UJI HETEROSKEDASTISITAS DENGAN GLEJSER

  

Hasil Uji Heteroskedastisitas

Coefficients a

  Model Unstandardized Coefficients

  Standardized Coefficients t Sig. B Std. Error Beta

  1 (Constant) 9.265 2.654 3.491 .001 DER (Ratio) -1.419 1.183 -.176 -1.200 .235 RBC (%) -.001 .003 -.059 -.458 .649 TA (Rp.M) .001 .006 .037 .142 .888 PR (Rp.M) -.041 .073 -.144 -.568 .572

  a. Dependent Variable: RES_7

  13. HASIL UJI HETEROSKEDASTISITAS DENGAN GLEJSER Setelah transform data Tabel 5.7 Hasil Uji Heteroskedastisitas setelah transformasi logaritma Coefficients a

  Model Unstandardized Coefficients

  Standardized Coefficients t Sig. B Std. Error Beta

  1 (Constant) 1.408 .764 1.844 .070 lnx1 -.046 .078 -.086 -.594 .555 lnx2 -.201 .107 -.271 -1.871 .066 lnx3 .082 .114 .234 .718 .475 lnx4 -.086 .103 -.266 -.838 .405

  a. Dependent Variable: Unstandardized Residual

  14. HASIL UJI AUTOKORELASI

Model Summary

b

  Change Statistics Durbin-Watson

  b. Dependent Variable: NILAI PERUSAHAAN (Ratio)

  a. . Predictors: (Constant), PROFIT (Rp.M), DER (Ratio), RBC (%), SIZE (Rp.M)

  69

  Residual 9785.013 65 150.539 Total 10330.865

  a

  1 Regression 545.852 4 136.463 .906 .466

  16. HASIL UJI HIPOTESIS PERTAMA

  b. Dependent Variable: NILAI PERUSAHAAN (Ratio)

  a. Predictors: (Constant), x3.x4, DER (Ratio), RBC (%), SIZE (Rp.M), PROFIT (Rp.M), x1.x4, x2.x4

  7 62 .093 1.998

  .173 .080 11.73948 .173 1.852

  a

  Sig. F Change 1 .416

  R Square Change F Change df1 df2

  Std. Error of the Estimate

  Model R R

  a

  Square Adjusted

  R Square

  Std. Error of the Estimate

  Change Statistics Durbin-Watson

  R Square Change F Change df1 df2

  Sig. F Change 1 .416

  .173 .080 11.73948 .173 1.852

  R Square

  7 62 .093 1.998

  a. Predictors: (Constant), x3.x4, DER (Ratio), RBC (%), SIZE (Rp.M), PROFIT (Rp.M), x1.x4, x2.x4

  b. Dependent Variable: NILAI PERUSAHAAN (Ratio)

  15. HASIL UJI AUTOKORELASI Setelah transform data

Model Summary

b

  Model R R

  Square Adjusted

a. UJI SIMULTAN (UJI F) ANOVA b Model Sum of Squares df Mean Square F Sig.

  VIF 1 (Constant) 12.951 3.106 4.170 .000 DER (Ratio) -1.727 1.384 -.181 -1.248 .217 .689 1.451 RBC (%) -.005 .004 -.176 -1.368 .176 .884 1.131 SIZE (Rp.M) .002 .007 .079 .301 .765 .212 4.711 PROFIT (Rp.M)

  b. Dependent Variable: lny

  B Std. Error Beta Toleranc e

  Collinearity Statistics

  Coefficients T Sig.

  Coefficients Standardized

  Model Unstandardized

  b. UJI PARSIAL (UJI t)

Coefficients

a

  a. . Predictors: (Constant), lnx4, lnx1, lnx2, lnx3

  a. UJI SIMULTAN (UJI F) Setelah transform data ANOVA b Model Sum of Squares df Mean Square F Sig.

  69

  46.119

  Total

  36.686 65 .564

  Residual

  9.434 4 2.358 4.179 .005 a

  1 Regression

• .062 .085 -.183 -.728 .469 .230 4.356

b. UJI PARSIAL (UJI t) Setelah transform data a

  

Coefficients

  Standardize Unstandardized d Collinearity

  Coefficients Coefficients Statistics Toleranc

  Model B Std. Error Beta T Sig. e

  VIF 1 (Constant) 2.213 1.198 1.847 .069 lnx1 -.174 .122 -.190 -1.422 .160 .686 1.457 lnx2 -.374 .168 -.297 -2.226 .030 .685 1.459 lnx3 .518 .178 .872 2.904 .005 .136 7.371 lnx4 -.545 .162 -.986 -3.370 .001 .143 6.994

  a

Coefficients

  Standardize Unstandardized d Collinearity

  Coefficients Coefficients Statistics Toleranc

  Model B Std. Error Beta T Sig. e

  VIF 1 (Constant) 2.213 1.198 1.847 .069 lnx1 -.174 .122 -.190 -1.422 .160 .686 1.457 lnx2 -.374 .168 -.297 -2.226 .030 .685 1.459 lnx3 .518 .178 .872 2.904 .005 .136 7.371 lnx4 -.545 .162 -.986 -3.370 .001 .143 6.994 a. Dependent Variable: NILAI PERUSAHAAN (Ratio)

2 C. KOEFISIEN DETERMINASI (R ) b Model Summary

  Adjusted R Std. Error of the Model R R Square Square Estimate

  a

  1 .416 .173 .080 11.73948

  a. Predictors: (Constant), x3.x4, DER (Ratio), RBC (%), SIZE (Rp.M), PROFIT (Rp.M), x1.x4, x2.x4

  b. Dependent Variable: NILAI PERUSAHAAN (Ratio)

2 KOEFISIEN DETERMINASI (R ) Setelah transform data b Model Summary

  Adjusted R Std. Error of the Model R R Square Square Estimate

  a

  1 .452 .205 .156 .75126

  a. Predictors: (Constant), lnx4, lnx1, lnx2, lnx3

  b. Dependent Variable: lny

15. HASIL UJI HIPOTESIS KEDUA

  

Coefficients

a

  Model Unstandardized Coefficients

  Standardized Coefficients

  T Sig. B Std. Error Beta 1 (Constant) 22.825 4.944 4.616 .000 DER (Ratio) -4.352 2.973 -.457 -1.464 .148 RBC (%) -.018 .007 -.616 -2.423 .018 SIZE (Rp.M) -.006 .007 -.220 -.773 .443 PROFIT (Rp.M)

• .406 .144 -1.199 -2.820 .006 x1.x4 .107 .081 .532 1.318 .192 x2.x4 .001 .000 .770 1.865 .067 x3.x4 6.536E-5 .000 .315 .729 .469

a. Dependent Variable: NILAI PERUSAHAAN (Ratio) 17.

   Setelah Transformasi Logaritma

Coefficients

a

  Model Unstandardized Coefficients

  Standardized Coefficients t Sig. B Std. Error Beta

  1 (Constant) 17.248 8.124 2.123 .038 lnx1 -.826 1.311 -.395 -.630 .531 lnx2 -2.156 1.091 -.749 -1.976 .053 lnx3 -.460 .696 -.339 -.661 .511 lnx4 -4.600 2.495 -3.640 -1.844 .070 lnx1.lnx4 .241 .345 .392 .699 .487 lnx2.lnx4 .669 .373 3.069 1.794 .078 lnx3.lnx4 .132 .150 .722 .878 .384 a. Dependent Variable: LNUI.UI