PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of profitability, dividend policy, and firm size on firm value. Profitability was measured proxied by Return On Assets (ROA), dividend policy was measured proxied by Dividend Per Share (DPS), and firm size was measured proxied by Total Asset (LN). Moreover, the data collection technique used purposive sampling i.e., a sample selection with determined criteria. In line with that, there were 40 companies as the sample. The population was Real Estate companies listed on the Indonesia Stock Exchange (IDX) 2017-2021. The data analysis technique used multiple linear regression. Furthermore, the result concluded that: (a) profitability did not affect the firm value. This meant the investors did not consider the company's profitability in the decision-making of stock investment; (b) dividend policy had a positive effect on the firm value. It meant the investors considered the number of dividends shared by the company when making investment decisions, and (c) firm size did not affect the firm value. In other words, LQ-45 index companies that were listed; had a capacity and high trade. Therefore, the amount of the firm size did not affect the firm value.