PENGARUH STRUKTUR KEPEMILIKAN, AKTIVA TIDAK BERWUJUD, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of ownership structure, intangible asset, and dividend policy on firm value. The population was all go-public companies which were listed on Indonesia Stock Exchange (IDX). Moreover, the research sample was LQ-45 go-public companies which were listed on Indonesia Stock Exchange 2017-2019. The research was quantitative. Furthermore, there were 45 companies financial statements as the sample. Additionally, the data collection technique used purposive sampling. In addition, the data analysis technique used multiple linear regression with Statistical Product and Service Solution (SPSS) 23. According to the result of hypothesis test, it concluded as follows: (a) Managerial ownership had did not effect on firm value, (b) Institutional ownership had a positive affect on firm value, (c) Intangible asset had a positive effect on firm value, (d) Dividend policy had a positive effect on firm value. It meant, with and adjusted R square of 0,425 or 42,5%, independent variables had affected dependent variable. Meanwhile, for the rest of 57,5% it was affected by other variables.
Keywords: ownership structure, intangible asset, dividend policy, firm value