PENGARUH PERTUMBUHAN PERUSAHAAN, KEBIJAKAN DIVIDEN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research examines and analyzes the effect of companies' growth, dividend policy, and profitability on the firm value of Banking companies listed on the Indonesia Stock Exchange during 2021-2023. The companies’ growth was referred to as Total Assets Growth, the dividend policy was referred to as Dividend Per Share, and profitability was referred to as Return On Equity. Furthermore, the research employs a quantitative approach, using a causal-comparative method to examine the cause-and-effect relationship between independent and dependent variables. Moreover, the data were secondary, which were taken from banking companies’ financial statements listed on the Indonesia Stock Exchange (IDX). The data sampling technique used was purposive sampling. In line with that, 47 samples were gained, with 141 data samples were analyzed. Additionally, due to the hypothesis test, the result shows that: (a) companies’ growth doesn’t affect firm value. It means the increased assets do not reflect the inclined performance that can be considered by investors in making investment decisions; (b) the dividend policy does not affect firm value. In other words, the amount of dividends that are shared by companies is not seen as the main consideration by investors in making investment decisions; (c) profitability has a positive effect on firm value, since the investors are more prefer companies that have a good financial performance.