PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of dividend policy, debts policy, and profitability on firm value. While
the dividend policy was measured by Dividen Payout Ratio (DPR), debts policy was measured by Debt to Equaty
Ratio (DER), and profitability was measured by Return On Asset (ROA). The population was Food and Beverage
companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2020. Moreover, the data were
annual report through the official site of Indonesia Stock Exchange. Furthermore, the data collection technique
used purposive sampling with 4 criteria given. In line with that, there were 7 companies with a total of 42 data as
the research sample. Additionally, the research was correlative-quantitative. In addition, the data analysis
technique used multiple linier regression with SPSS. The research result concluded that dividen policy had a
negative effect on firm value. On the other hand, the debt policy had a positive effect on firm value. Likewise,
profitability had a positive effect on firm value.