PENGARUH PROFITABILITAS, LEVERAGE, FREE CASH FLOW DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of profitability, leverage, free cash flow, and dividend policy on firm
value. While, profitability was measured by Return On Asset ratio, leverage was measured by Debt to Equity
ratio, free cash flow was measured by free cash flow ratio, and dividend policy was measured by Dividend
Payout Ratio. Meanwhile, the firm value was measured by Price Book Value. The research was quantitative.
Moreover, the population was Consumer Goods which mere listed on Indonesia Stock Exchange (IDX) during
2014-2018. Furthermore, the data collection technique used purposive sampling, in which the sample was based
on criteria given. In line with, there were 18 companies as sample with 90 observations. In addition, the data
analysis technique use multiple linear regression with SPSS (Statistical Product and Service Solutions) 23. The
research result conclude profitability had positive effect on firm value. On the other hand, leverage had negative
effect on firm value. In contrast free cash flow and dividend policy did not affect firm value.
Keywords: profitability, leverage, free cash flow, dividend policy, firm value.