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

Abstract

This research aimed to examine (1) the effect of profitability on the firm value, (2) the effect of capital structure on the firm value, (3) the effect of dividend policy on the firm value, and (4) the effect of investment decisions on the firm value. Moreover, the research was quantitative. The population was Food and Beverages companies sector listed on the Indonesia Stock Exchange (IDX) during 2017-2021. Profitability was measured by Return On Equity (ROE), capital structure was measured by Debt to Equity Ratio (DER), dividend policy was measured by Dividend Payout Ratio (DPR), and investment decisions were measured by Price Equity Ratio (PER). Furthermore, there were 45 samples from 9 companies. The data collection technique used purposive sampling i.e., a sample selection based on the determined criteria. Additionally, the data analysis technique used multiple linear regression with SPSS 25 version. The result showed that (1) profitability had a positive effect on the firm value, (2) capital structure did not affect the firm value, (3) dividend policy did not affect the firm value, and (4) investment decisions had a positive effect on the firm value.