PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure (DER), firm size (SIZE), Dividend policy (DPR)
on the firm value (PBV), at Food and Beverages companies listed in Indonesia Stock Exchange (IDX) in 2016-
2020 period. This research used the quantitative method. The research sample collection technique used the
purposive sampling method with certain determined criteria. By the purposive sampling method, the sample was
9 companies from 26 companies, therefore the amount of research observation was 45 observation data during
five years. Moreover, the research data analysis used multiple linear regressions. The research result indicated
that capital structure (DER) had a positive effect on the firm value (PBV). This can be seen from the significant
value was 0,000 < 0,05 with t-count 5.562 had positive value. Firm size (SIZE) did not affect the firm value
(PBV). It can be seen from the significant value that was 0,978 > 0,05 with the value of t-count was -0,027 had
negative value. Moreover, dividend policy (DPR) did not affect the firm value (PBV). It can be seen from
significant value 0,085 > 0,05 with t-count value 1.765 had positive value.