PENGARUH PROFITABILITAS, LEVERAGE, LIKUIDITAS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

ABSTRACT
This study was conducted with the aims to test the impact of profitability, leverage, liquidity, and dividend
policy toward the firm value. The variables of the profitability are measured by the Return On Asset (ROA), the
variables of the leverage are measured by the Debt to Equity Ratio (DER), the variables of the liquidity are
measured by the Current Ratio, the variables of the dividend policy are measured by the Dividend Payout Ratio
(DPR), and the variables of the dependend are the firm value which are measured by the Price to Book Value
(PBV). The type of this study is quantitative. The population of the study are the state-owned corporations
(BUMN) which are registered in Indonesian Stock Exchange 2012-2019. This study applies purposive sampling
for collecting 120 financial report observations from 15 companies as the samples. The analysis from this study
applies multiple linear regression. The result of this study shows that Return On Asset (ROA), Debt to Equity
Ratio (DER), and Dividend Payout Ratio (DPR) give positive impact to the firm value. While, the Current
Ratio gives negative impact to the firm value.

Keywords: profitability, leverage,liquidity, dividend policy