| The purpose of this study was to determine the effect of managerial ownership and institutional ownership variables on firm value where firm value was measured by Tobin’s Q with firm size as a control variable in manufacturing companies listed on the Indonesia Stock Exchange for the period 2015-2017. There are various ways to maximize company value, one of which is to have a balance between managerial and institutional shareholders. The population of this study is a manufacturing company listed on the Stock Exchange for the period 2015-2017. Sample selection through purposive sampling method. There are 26 companies that meet the criteria as research samples so that the research data amounts to 78. The analysis technique used is multiple linear regression analysis for panel data. The results of the study show that managerial ownership has a negative influence on firm value and institutional ownership has a negative influence on firm value. |