PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA
Keywords:
Kebijakan Deviden, Kebijakan Hutang, Profitabilitas dan Nilai Perusahaan
Abstract
Dengan adanya investasi jangka panjang dan jangka pendek, maka para analisis keuangan akan mencari cara dalam menentukan harga saham sehingga mampu mendapatkan keuntungan yang maksimal. Dimana para investor dalam menggunakan nilai dari suatu perusahaan dalam mengukur apakah jika mereka malakukan investasi dapat menguntungkan atau tidak. Tujuan dalam penelitian ini adalah untuk mengetahui Pengaruh Kebijakan Dividen, Kebijakan Hutang, dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia. Dalam penelitian ini menggunakan metode kuantitatif, sedangkan teknik pengumpulan data penelitian menggunakan dokumenter. Sampel dalam penelitian ini sebanyak 34 perusahaan, diambil dengan metode purposive sampling. Sedangkan analisis data yang digunakan yaitu regresi linier sederhana dengan bantuan program SPSS. Hasil penelitian yang diperoleh yaitu : 1) kebijakan dividen berpengaruh positif dan signifikan terhadap nilai perusahaan; 2) kebijakan hutang berpengaruh tidak signifikan terhadap nilai perusahaan; 3) profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan.
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Alfianita, & Santosa, P. W. (2022). The Effect of Dividend Policy, Capital Structure, Profitability, and Growth on Firm Value. Jurnal of Accounting, Management and Economics Research, 4(2), 123–134.
Anwar, S. (2016). Metode Penelitian Bisnis. Salemba Empat.
Ayuningtyas, C., & Hamid, A. (2019). Analisis Faktor – Faktor Internal dan Eksternal yang Mempengaruhi Pay Out Policy pada Perusahaan Publik Malaysia. In Prosiding Industrial Research Workshop and National Seminar, 10(1), 741–752.
Brealey, M., & Marcus. (2008). Dasar-Dasar Manajemen Keuangan Perusahaan. Erlangga.
Brigham, & Daves. (2010). Intermediate Financial Management. Cengage Learning.
Brigham, E. F., & Houston, J. F. (2013). Dasar-Dasar Manajemen Keuangan (Edisi Kese). Salemba Empat.
Chen, L.-J., & Chen, S.-Y. (2011). The influence of profitability on firm valuewith capital structure as the mediator and firm size and industry as moderators. Investment Management and Financial Innovations, 8(3), 123–132.
Fujianti, L. H., Keiko, A., Siswono, S., & Sinaga, L. (2020). The Effect Of Managerial Ownership, Dividend Policy And Debt On Firm Value. The Indonesia Stock Exchange Cases. INQUISITIVE, 1(1), 45–52.
Ghalandari, K. (2013). The Moderating Effects Of Growth Opportunities On The Relationship Between Capital Structure And Dividend Policy And Ownership Structure With Firm Value In Iran: Case Study Of Tehran Securities Exchange. Research Journal of Applied Sciences, Engineering and Technology, 5(4), 1424–1431.
Ghozali, I. (2015). Aplikasi Analisis Multivariate Dengan Program SPSS. Universitas Diponegoro.
Hair, J. F. (2013). Multivariate Data Analysis, Sixth Editio. Pearson Education International.
Harmono. (2017). Manajemen Keuangan Berbasis Balance Scorecard. Bumi Aksara.
Huda, S., Zuhroh, D., & Firdiansah, A. (2020). The Effect of Profitability and Capital Structure on Firm Value Through Dividend Policy in Transportation Companies Listed on the Indonesia Stock Exchange for the Period of 2015-2018. International Journal of Advances in Scientific Research and Engineering (ijasre), 6(9), 32–46.
Indriawati, F. (2018). The Impact Of Profitability, Debt Policy, Earning Per Share, And Dividend Policy On The Firm Value (Empirical Study of Companies Listed In Jakarta Islamic Index 2013-2015). Informational and Knowladge Management, 8(4), 142–149.
Jhon, O., & Amarjit, G. (2021). The Impact of Corporate Governance and Financial Leverage on the Value of American Firms. Research Journal of Finance and Economics, 1(14), 143–151.
Kasmir. (2016). Analisis Laporan Keuangan. Raja Grafindo Persada.
Lumapow, L. S., & Tumiwa, R. A. F. (2017). The Effect of Dividend Policy, Firm Size, and Productivity to The Firm Value. Research Journal of Finance and Accounting, 8(22), 783–795.
Maulina, P. A., Dewi, R. R., & Suhendro. (2018). Analysis of Effect of Dividend Policy, Policies Debt, Profitability and Investment Decision in the Value of The Company. International Conference on Technology, Education and Social Science, 1(2), 45–53.
Mujino, & Wijaya, A. (2021). The Effect Of Dividend Policy, Debt Policy, Profitability, Asset Structure, And Company Size On The Value Of Manufacturing Companies Listed On The Indonesia Stock Exchange 2013-2019. International Journal of Economics, Business and Accounting Research, 5(2), 23–36.
Munawir, S. (2017). Analisis Laporan Keuangan. Liberty.
Nachrowi, D. N., & Hardius, U. (2008). Pengunaan Teknik Ekonometrika. Raja Grafindo Persada.
Napitupulu, F., & Anggelika, J. (2021). The Effect of Profitability, Debt Policy, Dividend Policy and Investment Decisions on Company Value in the Consumer Goods Industry Listed on the Indonesia Stock Exchange 2015-2019 Period. Journal of Management, 11(2), 54–66.
Osazuwa, N., & Che-Ahmad, A. (2016). The Moderating Effect Of Profitability And Leverage On The Relationship Between Eco-Efficiency And Firm Value In Publicly Traded Malaysian Firms. Social Responsibility Journal, 12(2), 154–162.
Putri, M. O. D., & Wiksuana, I. G. B. (2021). The Effect Of Liquidity And Profitability On Firm Value Mediated By Dividend Policy. A merican Journal of Humanities and Social Sciences Research (AJHSSR), 5(1), 74–82.
Putri, V. R., & Rachmawati, A. (2017). The Effect of Profitability, Dividend Policy, Debt Policy, and Firm Age on Firm Value in The Non-Bank Financial Industry. Jurnal Ilmu Manajemen dan Ekonomi, 10(1), 24–31.
Riyanto, B. (2016). Dasar-dasar Pembelanjaan Perusahaan. BPFE.
Santoso, S. (2012). Panduan Lengkap SPSS Versi 20. Elek Media Komputindo.
Sartono, A. (2018). Manajemen Keuangan Teori dan Aplikasi (Edisi Empa). BPFE.
Sekaran, U. (2015). Metodologi Penelitian untuk Bisnis. Salemba Empat.
Siagian, E. M., Sauh, T., & Sitohang, N. U. (2022). Effect Of Company Size, Debt Policy, Profitability, And Dividend Policy On Company Value. Jurnal Ipteks Terapan, 16(1), 74–83.
Siboni, Z. M., & Pourali, M. R. (2015). The Relationship between Investment Opportunity, Dividend Policy and Firm Value in Companies Listed in TSE: Evidence from IRAN. European Online Journal of Natural and Social Sciences, 4(1), 342–357.
Sondakh, R. (2019). The Effect Of Dividend Policy, Liquidity, Profitability And Firm Size On Firm Value In Financial Service Sector Industries Listed In Indonesia Stock Exchange 2015-2018 Period. Accountability, 8(2), 431–448.
Suad, H., & Enny, P. (2008). Dasar-Dasar Manajemen Keuangan. UPP AMP YKPN.
Sualehkhattak, M., & Hussain, C. M. (2017). Do Growth Opportunities Influence the Relationship of Capital Structure, Dividend Policy and Ownership Structure with Firm Value: Empirical Evidence of KSE. Journal of Accounting & Marketing, 6(1), 984–992.
Sugiyono. (2019). Metode Penelitian Kuantitatif Kualitatif dan R&D (Sutopo (ed.)). Penerbit Alfabeta.
Sukmawardini, D., & Ardiansari, A. (2018). The Influence Of Institutional Ownership. Profitability, Liquidity, Dividend Policy, Debt Policy On Firm Value. Management Analysis Journal, 7(2), 43–51.
Suwisnaya, I. P. P., & Krisnadewi, K. A. (2017). Pengaruh Kebijakan Utang Pada Nilai Perusahaan Dengan Ukuran Perusahaan Sebagai Variabel Moderasi. Jurnal Wahana Akuntansi, 12(1), 432–441.
Tamrin, M., Mus, H. R., Sudirman, & Arfah, A. (2017). Effect of profitability and dividend policy on corporate governance and firm value: Evidence from the Indonesian manufacturing Sectors. Journal of Business and Management, 19(10), 112–124.
Tanjung, Y. S., Widyastuti, T., & Rachbini, W. (2021). The effect of capital structure, liquidity, dividend policy, and debt policy on company value with profitability as moderating variables in the jakarta islamic index for the 2016-2020 period. Financial Management Studies, 4(1), 433–445.
Wahyudi, A. H. (2006). Manajemen Konflik dalam Organisasi. Alfabeta.
Published
2024-11-03
Section
Articles
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