PENGARUH KEBIJAKAN DIVIDEN, KEPUTUSAN INVESTASI, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research is to improve the prosperity of stakeholders can be realized by maximizing the firm value which can be influenced by dividend policy, investment decision, and profitability. This research is meant to find out the influence of dividend policy, investment decision and profitability to the firm value on the group of food and beverages companies which are listed in Indonesia Stock Exchange (IDX).
The population is food and beverages companies which are listed in Indonesia Stock Exchange (IDX) in 2011-2015 periods. The sample collection technique has been carried out by using purposive sampling, so that 10 companies which have met the criteria have been selected as the research sample. The statistic samples have been done by using multiple linear regressions analysis, the independent variable i.e. dividend policy has been done by using the measurement instrument (dividend payout ratio) DPR; investment decision has been done by using the measurement (price earnings ratio) PER; profitability has been done by using the measurement (return on assets) ROA; and the dependent variable of firm value has been done by using the measurement (price to book value) PBV.
The result of the research shows that dividend policy has negative influence to the firm value, investment decision has positive influence to the firm value, and profitability has positive influence to the firm value.
Keywords: Firm value, dividend policy, investment decision and profitability.