PENGARUH KEBIJAKAN DIVIDEN, FREE CASH FLOW, DAN PERTUMBUHAN PERUSAHAAAN TERHADAP NILAI PERUSAHAAN

Abstract

This research examines the effect of dividend policy, free cash flow, and company's growth on firm value. The research applies quantitatively. The dividend payout ratio measured dividend policy, and the FCF ratio measured Free Cash Flow. Growth measured a company's growth, and Tobins' Q measured firm value. The population comprises Mining companies listed on the Indonesia Stock Exchange (IDX). Furthermore, the data collection technique used purposive sampling. In line with that, there were 22 companies in the sample. Moreover, the data were taken for 4 years (2020-2023). Therefore, 88 data samples were processed. The data analysis technique used multiple linear regression with SPSS. The result shows that dividend policy does not positively affect firm value. It is because some companies do not share the dividends to stakeholders. However, Free Cash Flow has a positive effect on firm value as it gives a positive signal to stakeholders and reflects that the company has good performance and improved firm value. Similarly, company growth has a positive effect on firm value since the company succeeds in improving the total asset, which can gain some profits and affect firm value.