PENGARUH PROFITABILITAS, KEPUTUSAN PENDANAAN, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research examined the effect of profitability, funding decisions, and dividend policy on firm value. The population was Pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during 2018-2022. Moreover, the data collection technique used purposive sampling. In line with that, there were 9 companies as the sample. Furthermore, the data analysis technique used multiple linear regressions. The result showed that: (a) profitability had a positive effect on the firm value. It showed that investors had considered the company’s profitability in the investment decision-making; (b) funding decisions did not effect the firm value. This meant that investors did not consider the amount od the funds obtained by the company both from debt or equity after making the investment decision; (c) and dividend policy did not effect the firm value. It showed that the investors did not consider the amount of dividend shared by the company in investment decision-making.