PENGARUH PROFITABILITAS, LEVERAGE, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN PROPERTY AND REAL ESTATE

Abstract

This research aimed to examine the effect of profitability, leverage, and dividend policy on firm value. The independent variables were namely Profitability was measured by Return On Asset (ROA), leverage was measured by Debt to Equity Ratio (DER), and debt policy was measured by Dividend Payout Ratio (DPR). Moreover, the dependent variable was measured by Price to Book Value (PBV).The research was quantitative. It focused on the hypothesis test and was followed by data analysis with statistics and mathematical procedures. Moreover, the data collection technique used purposive sampling. In line with that, there were 35 samples from 7 Property and Real Estate companies listed on the Indonesia Stock Exchange during 5 years (2018-2022). Furthermore, the data analysis technique used multiple linear regression with SPSS. The result showed that profitability had a positive effect on firm value. Likewise, leverage had a positive effect on firm value. Similarly, dividend policy had a positive effect on firm value.