PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

The research aimed to examine the effect of dividend policy, debt policy and profitability on the firm value. While, the population
was Property and Real Estate companies which were listed on Indonesia Stock Exchage (IDX) 2015-2018. The research was
correlational-quantitative. Moreover, the data were secondary, in which taken from Indonesia Stock Exchage Investment
Gallery database (GIBEI). Moreover, the data collection technique used purposive sampling. In line with, there were 18
companies within 4 years observation. Therefore, the total sample was 72. Futhermore, the data analysis technique used
multiple linear regression with SPSS (Statistical Product and Service Solution) 23. The research result conclude dividend
policy did not affect the firm value with significance value of 0.229 > 0.05. Meanwhile, debt policy had positive effect on the
firm value with significance value of 0.037 < 0.05. Likewise, profitability had positive effect on the firm value with significance
value of 0.000 < 0.05. in conclusion, dividend policy, debt policy and profitability collectively affected the firm value.
Keywords: dividend policy, debt policy, profitability, firm value.