PENGARUH PROFITABILITAS, LEVERAGE, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI KASUS PADA SEKTOR FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA)

Abstract

This research aimed to find out whether there was an effect of profitability, leverage, and dividend policy on the firm value of Food and Beverage companies listed on the Indonesia Stock Exchange. The profitability was measured by Return On Assets (ROA), leverage was measured by Debt to Equity Ratio (DER), and dividend policy was measured by Dividend Payout Ratio (DPR). The research was quantitative. Moreover, the data collection technique used purposive sampling. In line with that, there were 17 companies as the sample. The data were secondary, in the form of companies’ annual reports during 2017- 2021. Furthermore, the data analysis technique used multiple linear regression with SPSS 26. The result concluded that profitability had a significantly positive effect on firm value. This meant the higher the profitability was, the higher the companies’ efforts would be in using assets for gaining maximum profit. Consequently, the company’s income increased. Leverage had a positive but insignificant effect on firm value. It meant the amount of debt owned by companies would not give a large effect on firm value. Dividend policy had a positive but insignificant effect on firm value. This meant dividend policy that was shared would not affect firm value.