PENGARUH PROFITABILITAS, KEBIJAKAN DEVIDEN DAN LEVERAGE TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out and examine emphirically the effect of profitability, dividend policy, and leverage on the firm value which was reffered to Price to Book Value (PBV). The data collection technique used purposive sampling, in which the sample was based on criteria given. Those criteria as follows: (1) property and real estate companies were listed on Indonesia Stock Exchange (2013-2017), (2) those companies did not publish their financial statement frequently, and (3) those companies did not share their dividend. While, there were 9 samples from 48 property and real estate companies 2013-2017. Moreover, the data analysis technique used classical assumption test, hypothesis test, and multiple linear regression with SPSS (Statistical Product and Service Solutions) version 13. The research result, from multiple linear regression analysis, concluded that profitability had positive effect on the firm value. Likewise, dividend policy had positive effect on the firm value. On the other hand, leverage had insignificant effect on the firm value.
Keywords: Profitability, Dividend Policy, Leverage, Firm Value.