PENGARUH GOOD CORPORATE GOVERNANCE, KEBIJAKAN DIVIDEN, DAN FREE CASH FLOW TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of good corporate governance, dividend policy, and free cash flow on firm value. While, good corporate governance was referred to comparison of stock ownership and institutional ownership which was referred to comparison of stock ownership amount of management and institution with stock which were existed, dividend policy was measured by Dividend Payout Ratio (DPR), and free cash flow was measured by comparison of rest cash flow from operational with total asset. Meanwhile, firm value was measured by Price Book Value (PBV). The research was quantitative. Moreover, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 16 Property and Real Estate companies which were listed on Indonesia Stock Exchange 2014-2018. Thus, there was 59 data . Futhermore, the data analysis technique used multiple linier regression with SPSS 21. The research result concluded institusional ownership had negative effect on firm value. Likewise dividend policy had negative effect on firm value. Similarry, free cash flow had negative effect on firm value. On the other hand, managerial ownership had posiive and significan effect on firm value.
Keywords: good corporate governance, dividend policy, free cash flow, firm value