PENGARUH KINERJA KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of financial performance and divident policy on company value. The
financial performance was referred to Return On Asset (ROA), Current Ratio (CR), Debt to Equity Ratio
(DER) and divident policy, which was referred to Divident Payout Ratio (DPR), on company value; wich was
referred to Price to Book Value (PBV). The sampling collection technique used purposive sampling with LQ-45
company wich was stated in Indonesia Stock Exchange 2014-2017. While, based on the criteria, there were 18
companies in wich the data analysis technique used multiple regression linier with SPSS (Statistical Product
and Service Solution) version 22. The research result concluded profitability had effect on company value as high
profit gave positive signal to investor. While, solvability had effect on company value as good management of
debts showed better company prospect in the future. Moreover, liquidity did not affect on company value since it
had only related to the condition of company internal and investor did not consider company liquidity. In
addition, divident policy did not affect on company value since the accepted divident was too small.
Keywords : Profitability, Liquidity, Solvability, Company Value.