PENGARUH STRUKTUR KEPEMILIKAN, KEPUTUSAN INVESTASI, KEBIJAKAN DIVIDEN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aims to examine the influence of ownership structure as measured by managerial ownership (KM) and institutional ownership (KI), investment decisions as measured by Price Eaning Ratio (PER), dividend policy as measured by Divident Payout Ratio (DPR), and profitability measured by Return on Asset (ROA) against company value as measured by Price Book Value (PBV). Samples taken by using purposive sampling method. Population in this research is the property company, real estate and building construction which listed in Bursa Efek Indonesia. From the population of 60 companies obtained 11 companies as a sample with a period of observation for 5 years (2012-2016) Based on the results of the research identify that: (1) managerial ownership does not influenced the value of the company, this indicates that the lack control of the ownership of management shares causes lower the control in decision. (2) institutional ownership has no influence on corporate value, it indicates that the lack of control of external shareholders on management performance. (3) investment decisions influenced the value of the company this shows the investments made will influenced the survival of the company. (4) dividend policy influenced the value of the company this shows the dividend dividend can consistently attract investors in investing the funds. (5) profitability influenced the value of the company this shows that the magnitude of profitability to the attractiveness of investors that make stock prices increase.
Keywords: company value, ownership structure, investment decision, dividend policy, profitability