PENGARUH FREE CASH FLOW, PROFITABILITAS, LEVERAGE DAN KEBIJAKAN DEVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research amined to examine the effect of Free Cash Flow, profitability, leverage , and dividend policy on
firm value. While, Free Cash Flow (FCF) was measured by Free Cash Flow ratio, profitability was measured
by Return On Asset (ROA), leverage measured by Debt to Equity Ratio (DER), and dividend policy was
measured by Dividend Payout Ratio (DPR). Meawhile, firm value was measured by Price to Book Value
(PBV). Moreover, the population was food and beverage companies which were listed on Indonesia Stock
Exchange during 2014-2019. Furthemore, the data collection technique used purposive sampling.
Addiotionally, the data analysis technique used multiple linear regression. The research result concluded
Free Cash Flow affected firm value. On the other hand, profitability which reffered to ROA did not affect firm
value. Likewise, leverage which was reffered to DER did not affect firm value ( PBV). Simmilary, dividend
policy which was reffered to DPR did not affect firm value (PBV).
Keywords: FCF, ROA, DER, DPR, PBV.