ANALISIS PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

The firm value is the ratio which has been used to measure the value which has been given by financial market to
the management and organization as the company which grows continuously. When the firm value is getting high,
it can be interpreted that the company has been successful in creating value for stockholders. This research is aimed
to examine the influence of the variables i.e. capital structure, dividend policy, firm size, and profitability to the
value of manufacturing companies which are listed in Indonesia Stock Exchange. The population of this research
has been collected by using purposive sampling method on manufacturing companies which are listed in Indonesia
Stock Exchange (IDX) in 2011-2015 observation periods and based on predetermined criteria, 9 manufacturing
companies have been obtained as samples. The data collection technique has been done by using secondary data
which has been obtained from Indonesia stock exchange. The analysis technique has been carried out by using
multiple linear regressions analysis with the SPSS (Statistical Product and Service Solutions) application. The
result of classic assumption test shows that there is no deviation to the classic assumptions which have been applied.
Meanwhile, the result of model feasibility test shows that the models are feasible to be used in this research. It has
been found from the result of hypothesis test that capital structure and profitability gives significant influence to
the firm value, whereas the dividend policy and firm size does not give any significant influence to the value of
manufacturing companies which are listed in Indonesia stock exchange in 2011-2015 periods.

Keywords: capital structure, dividend policy, firm size, profitability, firm value