PENGARUH KEBIJAKAN UTANG, DIVIDEN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research examines and analyzes the effect of debt policy, dividend, and profitability on the firm value. The debt policy was measured by Debt to Equity Ratio (DER), dividend was measured by Dividend Payout Ratio (DPR), and profitability was measured by Return On Assets (ROA). The population comprises Consumer Non-Cyclicals companies, especially the Food and Beverage sub-sector, listed on the Indonesia Stock Exchange (IDX) during 2022-2023. Furthermore, the data were taken from companies’ annual reports through the official website of the Indonesian Stock Exchange. The data collection technique used was purposive sampling with 2 criteria that had been decided. In line with that, 77 companies were taken as samples, with 154 total data samples. However, based on the transformation test, Log10 was an outlier. Moreover, the research applies quantitatively. The data analysis technique used was multiple linear regression with SPSS. The result shows that debt policy has a positive effect on firm value. Likewise, dividend has a positive effect on firm value. Similarly, profitability has a positive effect on firm value.