PENGARUH STRUKTUR MODAL, PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI KASUS PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA)

Abstract

This research aimed to examine the effect of capital structure (DER), profitability (ROA), and dividend policy (DPR) on the firm value (PBV) of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) 2014-2021. The research was quantitative. The population was 11 pharmaceutical companies listed on IDX. In order to have a homogeneous population, some criteria were taken. In line with that, there were 4 companies in the sample. Moreover, the data collection technique used non-probability sampling. The data analysis technique used multiple linear regression with SPSS (Statistical Product and Service Solution). The result concluded that capital structure which was referred to as DER had an insignificant effect on the firm value. Likewise, profitability which was referred to as ROA had a significant effect on the firm value. Similarly, dividend policy which was referred to as DPR had a significant effect on the firm value of pharmaceutical companies listed on the Indonesia Stock Exchange 2014-2021.