PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN, DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out the effect of profitability, dividend policy, and debts policy on the firm value of some companies which part of index LQ-45 and were listed on Indonesia Stock Exchange 2014-2017. The population was some companies which part of index LQ-45. While, the data used secondary which were taken from the Indonesia Stock Exchange for four years. Moreover, the sampling collection technigue used purposive sampling in which there weren ten out of 45 companies had been chosen based on the criteria given. In addition, the data analysis technigue used multiple linear regression with SPSS version 25 in order to find out the effect of profitability, dividend policy, and debts policy on the firm value. From the hypothesis testing, it could be concluded profitability which referred to return on equity (ROE) had significant effect on the firm value with the significance of 0.000. On the other hand, dividend policy which referred to dividend payout ratio (DPR) had insignificant effect on the firm value with the significance 0.558. In addition, the debt policy which referred to debt to equity ratio (DER) had significant effect on the firm value with the significance of 0.039.
Keywords : profitability, dividend policy, debts policy, firm value.