PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG DAN KEBIJAKAN DEVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research is aimed to test how much the influence of profitability, debt policy, and dividend policy to the firm value of companies which are listed in the Conpass Index 100 in Indonesia Stock Exchange (IDX), in which the profitability is tested by using ROA (Return On Asset) ratio, debt policy is tested by using the DER ratio (Debt Equity Ratio), and dividend policy is tested by using the DPR (Deviden Payout Ratio). The population has been obtained by using the result of sample collection technique by using purposive sampling method to the companies which are listed in the Compass Index 100 in Indonesia Stock Exchange (IDX) in 2012-2016 periods and based on the predetermined criteria, then 7 companies which are listed in Index Compass 100 have been selected as sample. The analysis method has been done by using multiple linier regressions analysis and SPSS (Statistical Product and Service Solutions) tool. The results indicate that profitability give positive and significant influence to the firm value, debt policy give positive and insignificant influence, and dividend policy give negative and insignificant effect to the fir, value.
Keywords: Profitability, debt policy, dividend policy, firm value.