PENGARUH PROFITABILITAS, LIKUIDITAS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

Manufacturing companies is one of the sectors which gives the biggest contribution on the national economy. While, the growth of this sector has in creased significantly every years. This makes the investors are confident in doing investment. The research aimed to find out the effect of profitability, liquidity, and dividend policy on the firm value of manufacturing companies which where listed on Indonesia Stock Exchange 2013-2017. Moreover, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 11 manufacturing companies a sample. In addition, the data analysis technique used multiple linear regression. The research result, from hypothesis testing, concluded as follows (1) profitability (Return on Equity) had significant effect on the firm value, (2) Liquidity (Current Ratio) had insignificant effect on the firm value, and (3) Dividend Policy (Dividend Payout Ratio) had insignificant effect on the firm value. Mean while, from determination coefficient, it showed the R square value was 86,3 it mean, the firm value was affected by ROE, CR, and DPR, i.e. 86,3%. On the other hand, the remaining of 13,7% was affected by other variables variation.

Keywords : profitability, liquidity, dividend policy, firm value