PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of dividend policy, dividen debt, and capital structure on the firm value, which in the form of financial statement and its performance of manufacturing companies which were listed on Indonesia Stock Exchange 2015-2017. Dividen policy was measured by dividen payout ratio, while debt policy was measured by long term debt to equity ratio and capital structure was measured by debt to equity ratio. The research was quantitative. While, the data collection technique used purposive sampling, in which the collection was based on criteria given. In line with, there were 11 out of 151 manufacturing companies which were listed on Indonesia Stock Exchange 2015-2017. Moreover, the data analysis technique used multiple linear regression with SPSS version 25. The research result concluded dividen payout ratio had positive and significant effect on the firm value. Likewise, long term debt to equity ratio and capital structure had positive and significant effect n the firm value.
Keywords : dividen, debt, capital structure, value.