This study is to get empirical proof  the influence of financial leverage on firm value and to get empirical proof the role of foreign ownership on the link between financial leverage and firm value of consumer, trade, service, and investment, and miscellaous industry in IDX during 2009-2015. This study uses panel data regression with fixed method effect. F test shows that high financial leverage, foreign ownership, sales growth and firm age is positively related to firm value. Foreign ownership strengthen the  relation  between  financial  leverage  and  firm  value.  T  test  shows  that  high financial leverage is positively related to firm value. Foreign ownership strengthen the relation between financial leverage and firm value. Sales growth create negative effect  on  firm  value.  Firm  age  create  positive  effect  on  firm  value.  This  study expected that it can deliver information as references for stockholder, firm management, and goverment in making decision in foreign investment and financial leverage.
Keywords : Financial Leverage, Foreign Ownership, Firm Value

<!--[if gte mso 9]><xml> Normal 0 false false false EN-US X-NONE X-NONE </xml><![endif]--><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} </style> <![endif]-->