PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure, dividend policy, and investment decisions on the firm value. The capital structure was measured with the debt to equity ratio, dividend policy measured by dividend payout ratio, and investment decision variable on the firm value measured with total assets growth. The research was quantitative. Furthermore, the research sample used a purposive sampling method i.e., a sample selection with determining criteria. The purposive sampling method obtained 45 samples from 9 companies in the food and beverages sector listed on The Indonesia Stock Exchange during the 2016-2020 period. Moreover, the research analysis method used multiple linear regression analysis with SPSS program 26 version. The research result concluded that the debt to equity ratio had a positive and significant effect on the firm value, dividend payout ratio had a positive but insignificant effect on the firm value, and total assets growth had a positive but insignificant effect on the firm value.