PENGARUH LEVERAGE, KEBIJAKAN DIVIDEN, KEPEMILIKAN MANAJERIAL, DAN KEPEMILIKAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of Leverage (DER), Dividend Policy (DPR), Managerial Ownership, and Institutional Ownership on firm value (PBV) of Property and Real Estate companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2019. The research was quantitative. Moreover, the population was 43 Property and Real Estate companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2019. Furthermore, the data collection technique used purposive sampling. In line with that, there were 10 companies which fulfilled the criteria as the sample. With 5 years of observation, the samples became 50 data observations. However, there were 7 outlier data from the observations. As a result, the total number of data observations was 43. Additionally, the data analysis technique used multiple linear regression. The research result concluded that as follows: (1) Leverage did not affect the firm value, (2) Dividend Policy had a negative effect on firm value, (3) Managerial Ownership had a negative effect on firm value, and (4) Institutional Ownership did not affect firm value.