PENGARUH LEVERAGE, PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (PADA PERUSAHAAN MANUFAKTUR SUB SEKTOR FOOD AND BEVERAGES YANG TERDAFTAR DI BEI)

Abstract

This research aimed to examine the effect of leverage (DER), profitability (ROA), and dividend policy (DPR) on the firm value (PBV) of food and beverages companies listed on the Indonesia stock exchange with a total of 26 companies during the 2015-2019 period. The type of this study is causal comparative. The study applies the saturation sampling which its population are homogen, chosen based on the criteria, so there are 8 companies as the samples. In order to have a homogenous sample, the researcher used several determined criteria and obtained 8 companies. On the other hand, this research’s data analysis used multiple linier regression analysis with SPSS 22. This research concluded that leverage proxy with DER (debt equity ratio) had positive and significant effect on the firm value, profitability was proxy with ROA (return on assets) and positively and significantly affected the firm value. Additionally, dividend policy proxy with DPR (dividend payout ratio) had a negative and insignificant effect on the firm value.
Keywords: leverage, profitability, dividend policy, firm value