PENGARUH STRUKTUR MODAL, PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN LQ-45

Abstract

This research aims to examine the influence of capital structure, profitability and dividend policy on the company value through annual financial performance which has been prepared by LQ-45 Company which is listed in Indonesian Stock Exchange (BEI) in 2012-2016. The population in this research is obtained by using purposive sampling at LQ-45 Company which is listed in Indonesia Stock Exchange during 2012-2016 period and based on predetermined criteria, so obtained a sample of 11 companies. Dependent variable in this research is company value whereas independent variable in this research is capital structure, profitability and dividend policy. The analysis method that been used is multiple linear regression analysis. The results showed that the capital structure had a positive and significant influence on the company value with the regression coefficient of 0.480 and 0.000 significance level. Profitability has positive and significant influence to the company value with the regression coefficient equal to 0.293 and level of significance 0.000. Dividend policy has negative and insignificant influence on the company value with regression coefficient of -0.011 and significance level of 0.271.
Keywords: capital structure, profitability, dividend policy and dividend policy