PENGARUH KEPEMILIKAN MANAJERIAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN

Elok Dwi     Sulistianingsih; Tri  Yuniati

Elok Dwi Sulistianingsih
Tri Yuniati

Keywords: Firm value, telecommunication company, dividend policy, managerial ownership profitability

Abstract

This research is aimed to find out the influence of managerial ownership and profitability of the firm value
through dividend policy of telecommunications companieswhich are listed in Indonesia Stock Exchange
(BEI).The population is telecommunication companies which are listed in Indonesian Stock Exchange (BEI) in
2013-2015 periods. The sampling technique has been carried out by using purposive sampling. The statistical
method has been done by using descriptive statistics and path analysis.The result of the research shows that
dividend policy has positive influence to the firm value, managerial ownership has negative influenceto the firm
value and profitability has positive influenceto the firm value. The influence of managerial ownership on
dividend policy which can not be proven whereas profitability has been provento have positive influence on
dividend policy. These results indicates that managerial ownership does not have any indirect influence on firm
value whereas profitability indirect effect on firm value. The result of this research indicates the amount of direct
influence on the profitability of the firm value is greater than the magnitude of the indirect influenceto the
profitability of the firm value through dividend policy.

Keywords: Firm value, telecommunication company, dividend policy, managerial ownership profitability.