PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the dividend policy, debt policy, and profitability on the firm value at the property and real estate company listed on the Indonesia Stock Exchange (IDX) in the periods of 2017-2020. The firm value was measured by Price Book to Value, dividend policy was measured by Dividend Payout Ratio, debt policy was measured by Debt to Equity Ratio, and profitability was measured by Return On Equity. The research was quantitative. Furthermore, the data collection technique used purposive sampling, i.e., sample selection method with determined criteria. In line with that, it obtained 40 samples from 10 property and real estate companies listed on the Indonesia Stock Exchange (IDX) during 2017-2020. Moreover, the data analysis technique used multiple linear regression. The research result showed that dividend policy had a positive and significant effect on the firm value. On the other hand, debt policy had negative and significant effect on the firm value. In contrast, profitability had a positive and significant effect on the firm value.