Pengaruh Modal Intelektual dan Kebijakan Dividen Terhadap Nilai Perusahaan

Abstract

The purpose of this research is to examine the influence of intellectual capital and dividend policy to the firm value.
Intellectual capital is measured by using value added intellectual coefficient (VAIC), devidend policy is measured by
using dividend payout ratio (DPR) formula and firm value is measured by using price to book value (PBV) formula.
This research has been done by using quantitative approach by using multiple linear regressions analysis. The data is
the secondary data which is originated from property, real estate, and building construction companies which are listed
in Indonesia Stock Exchange in 2011-2015 periods. The sample collection has been carried out by using purposive
sampling method. The data processing has been done by using SPSS 23rd version. The resul of the research shows that
intellectual capital give positive influence to the firm value which means that when the value of intellectual capital is
getting large, the firm value is getting large as well. Dividend policy gives positive influence to the firm value which
means that when the dividend which is paid to the stockholders is getting large, the firm value is getting large as well.
Keywords: Intellectual Capital (VAIC), Dividend Policy (DPR), Firm value (PBV).