PENGARUH KEBIJAKAN DIVIDEN, LIKUIDITAS, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aims to find out and analyze the effect of dividend policy, liquidity, and profitability on the firm value. The research was a correlation study. Furthermore, the population consists of the Infrastructure companies listed on The Indonesia Stock Exchange during 2019-2023. The data collection technique used purposive sampling with 16 Infrastructure companies listed on the Indonesia Stock Exchange during 2019-2023 taken as a sample. Moreover, the data were secondary, which were taken from the company's financial statements. The data analysis technique used multiple linear regressions with SPSS program 26 version. The hypothesis test (t-test) indicates that dividend policy (Dividend Payout Ratio), liquidity (Current Ratio) , and profitability (Return On Assets) have a positive and significant effect on the firm value at the Infrastructure companies listed on the Indonesia Stock Exchange. Based on the determination coefficient test (R-Square), it obtains 86,4% which means that dividend policy (Dividend Payout Ratio), liquidity (Current Ratio), and profitability (Return On Assets) can explain the firm value. Meanwhile, the rest is explained by other variables.
Keywords: dividend policy, liquidity, profitability, and firm value