PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN, DAN KEBIJAKAN INVESTASI TERHADAP NILAI PERUSAHAAN PADA SUBSEKTOR RETAIL YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aims to find out and analyze the effect of profitability, dividend policy, and investment policy on the firm value of Retail companies listed on the Indonesia Stock Exchange (IDX). Profitability was referred to as Return On Assets, dividend policy was referred to as Dividend Payout Ratio, and investment policy was referred to as Price Earning Ratio. The study applies quantitatively with a causal-comparative approach. Furthermore, the data were secondary in the form of financial statements at the Indonesia Stock Exchange (IDX). The data collection technique used purposive sampling determined with certain criteria and considerations. In line with that, 8 Retail companies were taken for 5 years during 2019-2023. In total, there were 40 data samples analyzed. Moreover, the data analysis technique used multiple linear regression with SPSS program 26 version. The result indicates that profitability (Return On Assets) has a positive but insignificant effect on the firm value. However, a Dividend Payout Ratio has a negative and insignificant effect on the firm value. On the other hand, the investment policy (Price Earning Ratio) had a positive and significant effect on the firm value.