PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN DAN KEPUTUSAN PENDANAAN TERHADAP NILAI PERUSAHAAN

Abstract

This research was aimed to examine the influence of profitability, dividend policy, and funding decision to
company value. The variable of profitability was a proxy for the indicator of return on asset (ROA). Then, the
dividend policy was a proxy for dividend payout ratio (DPR). While the funding decision was proxy whit book
debt to equity ratio (BDE) meanwhile the independency of firm value was proxy for price to book value (PBV).
Moreover, this research used secondary data of annual financial statement and used purposive sampling method
to 96 financial statements data from 39 consumer goods companies which were listed in IDX in 2013-2016
periods. The result of multiple linear regressions research showed that profitability, dividend policy, and funding
decision had positively influenced to the firm value, with adjusted R square was 63.9%, and the rest was 36.1%
that had been influenced by other factors.
Keywords: firm velue, return on asset, dividend payout ratio, book debt to equity ratio.