PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out the effect of dividend policy, which was referred to Dividend Payout Ratio (DPR), debts policy which was referred to Debt to Equity Ratio (DER), and profitability which was referred to Return On Asset (ROA) on the firm value which was referred to Price to Book Value (PBV). While, the population was some Food and Beverages companies. Moreover, the data were companies’ finance performance report which were listed on Indonesia Stock Exchange (IDX) 2014-2018. The data collection technique used purposive sampling In line with, there were 7 Food and Beverages companies as sample. Furthermore, the data analysis technique used multiple linear regression with SPSS (Statistical Product and Service Solution). Meanwhile, for the hypothesis test, it used t-test with signiiicance value of 0.05. The research result, with F test, concluded the dividend policy, debts policy, and profitability had affected the firmvalue. In addition, from hypothesis test (t-test), it showed the dividend policy had positive but insignificant effect on the iirm value. On the other hand, the debts policy and profitability had positive effect on the firm value.
keywords: dividend, debts, profitability, firm value.