PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG, DAN KEBIJAKAN OPERASI TERHADAP NILAI PERUSAHAAN

Abstract

This study aims to examine the effect of (1) dividend policy on firm value with the Dividend Payout Ratio (DPR), (2) policy on firm value as measured by the Debt to Equity Ratio (DER), (3) operating policy on firm value measured with Return on Assets (ROA). The population of this study is food and beverage companies listed on the Indonesia Stock Exchange during 2016-2020 totaling 12 companies. The data used in this study is an annual report through the official website of the Indonesia Stock Exchange. The sampling technique in this study using purposive sampling obtained a sample of 60 companies. This research is a type of correlational research with a quantitative approach. The data analysis method used multiple linear regression analysis. Based on the hypothesis, it can be concluded that (1) dividend policy (Dividend Payment Ratio) has a positive effect on firm value, (2) debt policy has no effect on firm value, (3) operating policy (Return on Assets) has a positive effect on firm value.