PENGARUH KEBIJAKAN DIVIDEN, NILAI PERUSAHAAN DAN PROFITABILITAS TERHADAP HARGA SAHAM PERUSAHAAN LQ45

Abstract

This research aimed to find out the effect of dividend policy, firm value and profitability on the shares price of LQ45 Company. While, dividend policy wich was measured by payout ratio dividend (DPR), firm value was measured by price earning ratio (PER), profitability which was by return on asset (ROA) and return on equity (ROE). Based on the purposive sampling, there were 11 sample out of 24 LQ45 companies. Moreover, the data were in the form of financial data and taken from company balance sheet and its income statement as summary of the company performance. Furthermore, the data analysis technique used multiple linear regression with excel and SPSS 2.5. The research result, form multiple liniear regression analysis, concluded the dividend payout ratio (DPR) and return on asset (ROA) had positive and significant effect on the shares price. Likeiwise, the return on equity (ROE) had positive effect on the shares price. On the other hand, the Price earning ratio (PER) had negative effect on the shares price.

Keywords: dividend payout ratio, price earning ratio, return on asset, return on equity, shares price