PENGARUH MODAL INTELEKTUAL, STRUKTUR KEPEMILIKAN, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aims to test the influence of intellectual stock which measured by value added intellectual coefficient
(VAIC), ownership structure measured by institution ownership (KI) and managerial ownership (KM), devidend
policy measured with using Devidend Payout Ratio (DPR) formula and the company value measured with using
Price to Book Value (PBV) formula. The population that been used in this research is a company which is listed in
the Indonesia Stock Exchange (IDX). The samples that been taken are manufacturing companies in the basic &
chemical industry sector and various industry sectors which is listed in the IDX during the 2011 to 2015 period. The
total sample in this research is 24 companies determined through purposive sampling. The method of analysis of this
research using multiple regression analysis techniques. This research data processing with using SPSS application
version 23. Based on the analysis results can be concluded that intellectual capital has a positive influence on the
company value means that greater the value of intellectual capital, more greater the company value, ownership
structure negatively influenced the company value means that higher ownership structure owned then not increase
the company value, to company value means that greater the dividends paid to shareholders the more able to increase
the company value.
Keywords: Intellectual capital, ownership structure, dividend policy, company value