PENGARUH STRUKTUR MODAL, PROFITABILITAS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI KASUS PADA PERUSAHAAN PERTAMBANGAN BATU BARA YANG TERDAFTAR DI BURSA EFEK INDONESIA)

Abstract

This study aimed to examine the effect of debt to equity ratio (DER), net profit margin (NPM), and dividend payout ratio (DPR) on price to book value (PBV) of the coal mining companies in Indonesia stock exchange during 2016-2020. The type of this study was a quantitative research, there were 22 coal mining companies in Indonesia’s stock exchange. In order for the population to be homogeneous, the researchers used criteria so that the selected companies became 6 companies. The samples were collected by applying the non-probability sampling in order to decide the samples by using all the population which were constructed homogeneously. The data were analyzed by applying the multiple linear regression analysis with SPSS (Statistical Product and Service Solution) 25 program. The research result concluded that debt to equity ratio (DER) significantly affected firm value. On the other hand, net profit margin (NPM) significantly affected coal mining firm value. Likewise, dividend payout ratio (DPR) significantly affected coal mining firm value which were enlisted in indonesia stock exchange during2016-2020.