ANALISIS PENGARUH KEBIJAKAN HUTANG, INVESTASI, DIVIDEN TERHADAP NILAI PERUSAHAAN FOOD & BEVERAGES

Abstract

This research is meant to find out the influence of debt policy, investment policy, and dividend policy to the firm value. The population is the Food and Beverages companies which have gone public and have been listed in Indonesia Stock Exchange in 2009-2013 periods. The samples have been collected by using purposive sampling method; therefore 13 companies have been selected as samples. The analysis has been carried out by performing multiple regressions model and the analysis tests consist of classic assumption, goodness of fit test, coefficient determination and hypothesis test.The result of this research shows that significantly the debt policy (DER), Investment policy (ROI), dividend policy (DPR) to the firm value (MVA) in the goodness of fit test have significant influence, it indicates that the research models are feasible to meet the goodness of fit therefore it can be continued for the next analysis. It is supported by the coefficient determination (Adjusted R2) which can explain the variation in the firm value variable (MVA) is 45.8%. Meanwhile, it has been found from the result of the hypothesis test that each of the variable i.e. debt policy (DER), investment policy (ROI), dividend policy (DPR), shows positive influences and its significant level is smaller than 5%. It means that debt policy (DER), investment policy (ROI), dividend policy (DPR) have significant influence to the firm value (MVA).

Keywords: Debt Policy (DER), Investment Policy (ROI), Dividend Policy (DPR), Firm Value (MVA).