PENGARUH KEBIJAKAN DEVIDEN, KEBIJAKAN HUTANG, DAN PROFITABILITAS PADA NILAI PERUSAHAAN PROPERTY DAN REAL ESTATE

Abstract

This research aimed to examine the effect of dividend policy, debt policy, and profitability on the firm value. While, the independent variables were dividind policy which was measured by Dividind Payout Ratio, the debt policy which was measured by Debt to Equity Ratio, and profitability which was measured by Return On Asset. Meanwhile, the dependent variable was the firm value which was measured by Tobins’q. The research was quantitative. Furthermore, the data collection technique used purposive sampling, in which the sample was based on criteria given. Additionally, based on its sampling technique, there were 15 Property and Real Estate companies which werelisted on Indonesia Stock Exchage during 2015-2018. As sample. In addition, the data analysis technique used multiple linier regression with SPSS 21.The research result concluded dividend policy had positive and significant effect on the firm value. Likewise, profitability had positive and significant effect on the firm value. On the other hand, bedt policy had insignicant effect on the firm value.
Keywords: dividind policy, debt policy, profitability, firm value