PENGARUH RASIO HASIL ATAS EKUITAS DAN KEBIJAKAN DIVIDEN KAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to test the effect of result ratio over the equity (ROE),the policy of cash dividend was measured by each stock dividend (DPS) and dividend payout ratio (DPR) on the firm value (PBV) at the company in energy sector listed on Indonesia Stock Exchange (IDX) in 2016-2020 periods. The research data used the quantitative method. Furthermore, the research population obtained 69 companies by purposive sampling, this sample collection was meant to gain nine companies that fulfilled the criteria. Furthermore, the periods of observation used 5 years. Meanwhile, the research sample obtained 45 observations data with an outlier of 2 observations data, so that it obtained final samples were 43 observations data. In addition, the analysis method of this research used multiple linear regression. The results of the research indicate that the return on equity ratio had positively affected the firm value. Meanwhile, the cash dividend policy had negatively affected the firm value.
Keywords: result of ratio over equity, cash dividend policy, firm value