PENGARUH KEBIJAKAN DEVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

When the prosperity level of the company owner is getting high, it will increase the firm value. Firm value indicates that the prosperity of the stockholders is high and the future prospects of the company will be good as well. Firm value is proxy by Price to Book Value (PBV). How great the market appreciates the stock book value of a company which is described by the PBV. This research is aimed to examine the influence of dividend policy, debt policy, and profitability to firm value.The population of this research is all building contruction industry sector manufacturing companies which are listed in Indonesia Stock Exchange which have been obtained by using purposive sampling. The data is the 2013-2016 periods financial statements. Based on these criteria, there are 8 companies that can be used as the research samples. This research has been done by using multiple linear regressions analysis and the 21st SPSS application. The result of the research indicates that: (1) dividend policy gives negative and insignificant influence to the firm value, (2) Debt policy give positive influence to the firm value, and (3) Profitability give negative and insignificant influence to the firm value.
Keywords: dividend policy, debt policy, profitability, firm value