PENGARUH STRUKTUR MODAL, KINERJA KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure, financial performance, and dividend policy on firm value. The capital structure was measured by the Debt Equity Ratio, financial performance (profitability) was measured by Return On Assets, liquidity was measured by the Current Ratio, and dividend policy was measured by the Dividend Payout Ratio. The research was quantitative. The population was coal mining companies listed on the Indonesia Stock Exchange (IDX). Furthermore, the data collection technique used purposive sampling i.e., a sample selection with determined criteria. In line with that, there were 14 coal mining companies as the sample. Moreover, the data were taken for 4 years (2019-2022). In total, 56 data were processed. Additionally, the data analysis technique used multiple linear regression with the SPSS program. The result indicated that capital structure, profitability, and dividend policy had a positive effect on firm value. On the other hand, liquidity did not affect firm value.