PENGARUH STRUKTUR KEPEMILIKAN, KEBIJAKAN DIVIDEN, DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

Abstract

Company requires sound management and financial management to improve the company's performance and required to maximize their working capital through company policies and financial decisions, in order to provide welfare for the owner of the company (owner) and the shareholders (principal) which will influence the value of the company. This research aims to determine the influence of managerial ownership structure, debt policy, and dividend policy on LQ45 corporate value which listed in Indonesia Stock Exchange. This research is quantitative research of population using LQ45 Company which listed in Indonesia Stock Exchange (BEI), sampling technique in this research use purposive sampling at company LQ45 which listed in Indonesia Stock Exchange (BEI) during period 2012-2016 and based on criteria which have determined then obtained a sample of 70 companies LQ45. The type of data used in this study is secondary data using financial statement data. The analysis technique used is multiple linear regression analysis. The test results from this research using model feasibility test show the model deserve to be used in further research, and variable of managerial ownership structure, dividend policy have positive influence to firm value. Debt policy variables do not influenced the value of LQ45 companies which listed on the Indonesia Stock Exchange, because managers have not utilized external funding sources effectively.
Keywords: managerial ownership structure, debt policy, dividend policy, corporate value.