PENGARUH KEBIJAKAN HUTANG, DEVIDEN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This study aims to examine the effect of debt policy, profitability and dividend policy on firm value in manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period. It aims to provide empirical evidence regarding dividend policy, debt policy, and profitability in predicting firm value by testing each variable. The object of research is a manufacturing company listed on the Indonesia Stock Exchange for the 2017-2020 period. The method used in the selection of objects in this study is purposive sampling involving 12 manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period with an observation period of 4 (four) years with 48 samples of companies. The analytical model used in this study is a multiple linear regression analysis model which was carried out with the help of the SPSS version 26 for window program. The results of this study indicate that the Dividend Policy (DPR) has a positive effect on the company, which means that the increase in dividend policy causes a significant change in firm value and Profitability (ROE) has a significant effect on firm value, which means that the increase in profitability is very significant on firm value. While the debt policy (DER) does not show a significant effect on firm value, which means that debt has no significant effect on firm value.