PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research is meant to test the influence of dividend policy, debt policy, firm size and profitability to the firm value of manufacturing companies which are listed in Indonesia Stock Exchange. In order to measure the policy and firm characteristic, ratios which have been applied in this research aredividend payout ratio, debt to equity ratio, log natural total asset, and return on equity. Data analysis has been done by using multiple linear regressions with the independent variables i.e.: dividend policy, debt policy, firm size and profitability and the dependent variable is firm value. The research samples have been selected by using purposive sampling technique and 15 manufacturing companies in 2011-2014 periods have been selected a samples so that 60 financial statements which meet the sample criteria have been selected. Based on the result of analysis and hypothesis test, it shows that dividend policy and profitability variables have significant influence to the firm value, meanwhile debt policy and firm size variables do not have any influence to the firm value.
Keywords: Dividend Policy, Debt Policy, Firm Size, Profitability, and Firm Value.