PENGARUH RASIO PROFITABILITAS, RASIO HUTANG ATAS EKUITAS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

The research aimed to examine the effect of profitability, debt to equity, and dividend policy on firm value. While, profitability was measured by return on asset, debt to equity was measured by debt to equity ratio, and dividend policy was measured by dividend payout ratio. Meanwhile, firm value was measured by price to book value. The research was qualitative. Furthermore, the data collection technique used purposive sampling. In line with, there were 8 companies food and beverages companies which were listed on Indonesia Stock Exchange during 2014-2018 as the sample. Additionally, the data were secondary which in the form of documentation of annual report or annual financial statement food and beverages companies during 2014-2018 from IDX website or Indonesia Stock Exchange. In addition, the data analysis technique used multiple linear regression with SPSS (Statistic Program for Social Science) 21. The research result concluded profitability had positive effect on firm value. debt to equity had positive effect on firm value. Similarly, dividend policy had positive effect on firm value.
Keywords: profitability, debt to equity, dividend policy, firm value