The Impact Of Liquidity And Profitability On Firm Value With Dividend Policy As An Intervening Variable (Empirical Study Of Manufacturing Companies In The Pharmaceutical Sub Sector Listed On The Indonesia Stock Exchange In 2013-2017)

This study intends to check the impact of sales growth, profitability, liquidity, and dividend policy on firm value on manufacturing companies listed on the IDX. The sample of 36 research companies listed on the Indonesia Stock Exchange 2015-2017. The independent variable is sales growth, profitability, liquidity, dividend policy. While the dependent variable is firm value. The way to choose samples is purposive sampling. Analysis of data with multiple linear regression, the results of this study prove that sales growth partially has no impact and is not significant to the value of the company with a significant amount of 0.176. Profitability is partially positive and significant impact on the value of the company with a significant amount of 0,000. Liquidity partially has no impact and is not significant in firm value with a significant amount of 0.108. Dividend policy is partially positive and significant impact on the value of the company with a significant amount of 0,000

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PENGARUH PROFITABILITAS, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i05.p25 ◽

2019 ◽

Vol 8 (5) ◽

pp. 3275

Author(s):

Ni Komang Budi Astuti ◽

I Putu Yadnya

Keyword(s):

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Test Analysis ◽

Result Show ◽

The Impact ◽

Positive Effect

This research aims to analyze the impact of profitability, liquidity and firm size to firm value through dividend policy as intervening on manufacturing companies listed on Indonesian Stock Exchange (IDX) which paid dividend for the period 2013 to 2017. The population on this study amounted 6 companies. The sampling method used in this study is cencus. Data were analyzed by path analysis technique and Sobel test. Analysis result found that profitability has a significant positive effect on dividend policy, while liquidity and firm size have negatively significant effect. On the second model, the result show that profitability and dividend policy have a significant positive effect on firm value, while liquidity and firm size have no significant effect. Based on Sobel test result found that dividend policy was able to mediate the effect of profitability on firm value, but unable to mediate the effect of liquidity and firm size effect on firm value. Keywords: firm value, dividend policy, profitability, likuidity, firm size

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Analysis of the Effect of Funding Decision and Dividend Policy on the Firm Value and Investment Decision as Mediation (Study on Manufacturing Companies in Indonesia Stock Exchange)

Proceedings of the 1st Annual Management, Business and Economic Conference (AMBEC 2019) ◽

10.2991/aebmr.k.200415.035 ◽

2020 ◽

Author(s):

Sugeng Sulistiono ◽

Yusna Yusna

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Investment Decision ◽

Manufacturing Companies ◽

Funding Decision

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BOARD GENDER DIVERSITY AND ITS IMPACT ON FIRM VALUE AND FINANCIAL RISK

MIX JURNAL ILMIAH MANAJEMEN ◽

10.22441/mix.2019.v9i3.002 ◽

2019 ◽

Vol 9 (3) ◽

pp. 407

Author(s):

Yunia Panjaitan

Keyword(s):

Board Of Directors ◽

Firm Value ◽

Financial Risk ◽

Positive Impact ◽

Stock Exchange ◽

Gender Diversity ◽

Multiple Linear Regression Model ◽

Manufacturing Companies ◽

Board Gender Diversity ◽

The Impact

One of the things that can be done to maximize firm value is by having a board of directors with diverse characteristics. Gender diversity in the firm’s board of directors can bring a positive impact to the firm. Females are generally more risk-averse than males, and this could lead to a lower risk that must be borne by the firm. This study is conducted to investigate the impact of Board Gender Diversity to firm’s value and financial risk. Using 51 manufacturing companies listed in the Indonesia Stock Exchange from year 2016 to 2017, data was analyzed with the multiple linear regression model for panel data. The findings suggest that the presence of female directors has a positive and significant effect to firm’s value, and a negative but not significant effect to firm’s financial risk

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THE IMPACT OF DIVIDEND POLICY AND CAPITAL STRUCTURE ON FIRM VALUE IN AGRICULTURAL SECTOR

Jurnal Ilmu Keuangan dan Perbankan (JIKA) ◽

10.34010/jika.v11i1.5717 ◽

2021 ◽

Vol 11 (1) ◽

pp. 1-20

Author(s):

Senny Luckyardi ◽

Kamelia Agustini ◽

Nugraha Nugraha ◽

Maya Sari

Keyword(s):

Capital Structure ◽

Firm Value ◽

Dividend Policy ◽

Agricultural Sector ◽

Stock Exchange ◽

Verification Method ◽

Company Value ◽

Equity Ratio ◽

The Impact

This study aims to determine the effect of Dividend Policy and Capital Structure on Agricultural Sector’s Company Value. The research method used in this study is verification method with quantitative approach. The case study was conducted on agricultural sector companies listed on the Indonesia Stock Exchange in 2015-2019. The sample used is Price Book Value (PBV) and Debt to Equity Ratio (DER) in 14 agricultural sector companies obtained from Financial Statements published on the Indonesia Stock Exchange website: www.idx.co.id for the period 2015-2019. The results showed that the variables of Dividend Policy and Capital Structure had a negative and not significant effect on company value.

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PENGARUH KEBIJAKAN HUTANG, KEBIJAKAN DIVIDEN, PROFITABILITAS, PERTUMBUHAN PENJUALAN DAN KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v6i2.5558 ◽

2019 ◽

Vol 6 (2) ◽

pp. 201

Author(s):

Vivi Apriliyanti ◽

Hermi Hermi ◽

Vinola Herawaty

Keyword(s):

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Sales Growth ◽

Manufacturing Companies ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Debt Policy ◽

Positive Effect

AbstractThe purpose of this study was to examine the influence of debt policy, dividend policy,profitability, sales growth and investment opportunity set on firm value with firm size as moderating variable in the manufacturing companies on the Indonesia Stock Exchange (IDX). The population used in this study is a company that is listed on the Indonesia Stock Exchange. The sample used in this study 128 companies with an observation period of 3 (three) years from 2016 to 2018. The method of determining the sample used in this study was the purposive sampling method. The data processing method used in this study is the causality test with multiple regression analysis using SPSS version 23. The independent variables in this study are Debt Policy, Dividend Policy, Profitability, Sales Growth and Investment Opportunity. The moderating variable in this study is Company Size. The dependent variable in this study is firm value. The results of this study indicate that Debt Policy has a positive effect on Firm’s Value, Dividend Policy does not effect on Firm Value, Profitability does not have a positive effect on Firm’s Value, Sales Growth does not effect on Firm’s Value, Investment Opportunity Set does not effect on Firm’s Value, Firm Size does not have a positive effect on Firm’s Value, Firm Size does not strengthen the realtionship between Debt Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Dividend Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Profitability with Firm’s Value, Firm Size does not strengthen the realtionship between Sales Growth with Firm’s Value, Firm Size does not strengthen the realtionship between Investment Opportunity Set with Firm’s Value.

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PENGARUH LEVERAGE FINANCIAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA)

Jurnal Ekonomi Balance ◽

10.26618/jeb.v8i2.2188 ◽

2012 ◽

Vol 8 (2) ◽

pp. 116-141

Author(s):

Sri Indira Hartawati

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Financial Leverage ◽

Exchange Data

This study aims to examine and analyze the effect of partially or simultaneously financial leverage and dividend policy on firm value in manufacturing companies on the Indonesian stock exchange. Data collection uses secondary data using purposive sampling technique. The population in this study is the automotive sub-sector manufacturing companies and components listed on the Indonesia stock exchange during the 2014-2016 period of 15 companies, while the samples taken were the number of observations for 3 years (2014-2016) with the number of companies observing 12 obtained were analyzed using multiple linear regression analysis. The results show that all hypotheses have a significant effect based on the t test and F test. This means that both partially and simultaneously financial leverage and dividend policy have a significant effect on firm value in manufacturing companies on the Indonesian stock exchange.

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PENGARUH PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN MANUFAKTUR DENGAN DIVIDEN SEBAGAI MEDIASI

Jurnal Riset Manajemen dan Bisnis ◽

10.21460/jrmb.2020.152.384 ◽

2021 ◽

Vol 15 (2) ◽

pp. 85

Author(s):

Yunita Dete ◽

Teguh Erawati

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Company Size ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Purposive Sampling ◽

Positive Effect

ABSTRAKPenelitian ini bertujuan untuk menguji pengaruh profitabilitas dan ukuran perusahaan terhadap nilai perusahaan dengan kebijakan dividen sebagai variabel mediasi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Data yang digunakan dalam penelitian ini adalah data sekunder. Populasi yang digunakan adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2018. Sampel penelitian sebanyak 19 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Teknik pengumpulan data menggunakan metode purposive sampling. Analisis data menggunakan uji asumsi klasik, analisis regresi linier berganda, analisis jalur. Hasil penelitian menunjukkan bahwa profitabilitas berpengaruh positif signifikan terhadap kebijakan dividen. Ukuran perusahaan berpengaruh positif signifikan terhadap kebijakan dividen. Kebijakan dividen berpengaruh positif signifikan terhadap nilai perusahaan. Profitabilitas berpengaruh positif signifikan terhadap nilai perusahaan. Ukuran perusahaan berpengaruh positif signifikan terhadap nilai perusahaan. Kata kunci: profitabilitas, ukuran perusahaan, kebijakan dividen, nilai perusahaan ABSTRACTThis study aims to examine the effect of profitability and company size on firm value with dividend policy as a mediating variable in manufacturing companies listed on the Indonesia Stock Exchange (BEI). The data used in this research is secondary data. The population used is manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period of 2016-2018. The research sample of 19 manufacturing companies listed on the Indonesia Stock Exchange (IDX). Data collection techniques using purposive sampling method. Data analysis using the classical assumption test, multiple linear regression analysis, path analysis. The results showed that profitability had a significant positive effect on dividend policy. The size of the company has a significant positive effect on dividend policy. Dividend policy has a significant positive effect on firm value. Profitability has a significant positive effect on firm value. Company size has a significant positive effect on firm value. Keywords: profitability, company size, dividend policy, company value

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PENGARUH LEVERAGE, RETURN ON EQUITY (ROE), DAN FIRM SIZE TERHADAP FIRM VALUE DENGAN DIVIDEND POLICY SEBAGAI VARIABEL INTERVENING

Fokus Ekonomi : Jurnal Ilmiah Ekonomi ◽

10.34152/fe.15.1.105-126 ◽

2020 ◽

Vol 15 (1) ◽

pp. 105-126

Author(s):

Suci Atiningsih ◽

Nurul Latifah Pancawardani ◽

Mohklas .

Keyword(s):

Path Analysis ◽

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Manufacturing Companies ◽

Return On Equity ◽

Purposive Sampling ◽

Analysis Methods

This study aims to determine the effect of leverage, return on equity (ROE), and firm size on firm value with dividend policy as an intervening variable.Data analysis methods to test hypotheses using Path Analysis Methods. The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange in the period 2012-2017. The samples in this study were determined by purposive sampling, so that the number of companies obtained was 44 companies with 264 samples.The results show that leverage has a negative and significant effect on dividend policy. Return on equity (ROE) has no significant effect on dividend policy. Firm size has a positive and significant effect on dividend policy. Dividend policy, return on equity (ROE), and firm size have a positive and significant effect on firm value. Leverage does not have a significant effect on firm value. Dividend policy cannot mediate the effect of leverage, return on equity (ROE) and firm size on firm value

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Pengaruh Kebijakan Dividen, Kebijakan Utang, Profitabilitas, Kepemilikan Manajerial, dan Komite Audit terhadap Nilai Perusahaan

JURNAL ONLINE INSAN AKUNTAN ◽

10.51211/joia.v5i1.1317 ◽

2020 ◽

Vol 5 (1) ◽

pp. 41

Author(s):

Siti Siti ◽

Ahalik Ahalik

Keyword(s):

Firm Value ◽

Audit Committee ◽

Dividend Policy ◽

Stock Exchange ◽

Managerial Ownership ◽

Tobin’S Q ◽

Manufacturing Companies ◽

Tobin's Q ◽

Purposive Sampling ◽

Debt Policy

Abstrak:Penelitian ini dilakukan dengan tujuan untuk mengetahui pengaruh kebijakan dividen, kebijakan utang, profitabilitas, kepemilikan manajerial, dan komite audit terhadap nilai perusahaan. Teknik pemilihan sampel penelitian ini menggunakan purposive sampling. Sampel dalam penelitian ini adalah sebanyak 75 perusahaan manufaktur yang terdaftar di BEI periode 2013-2017. Data penelitian ini menggunakan data dari laporan keuangan dari setiap perusahaan sampel. Analisis data penelitian ini menggunakan analisis regresi berganda dengan pemakaian SPSS 24. Nilai perusahaan dalam penelitian ini diukur dengan rasio Tobin’s Q. Hasil penelitian ini menunjukkan kebijakan dividen, kebijakan utang, profitabilitas, kepemilikan manajerial dan komite audit secara bersama-sama berpengaruh terhadap nilai perusahaan. Variabel kebijakan dividen (DPR), kebijakan utang (DER), kepemilikan manajerial (KM) dan komite audit (KA) tidak berpengaruh terhadap nilai perusahaan, sedangkan profitabilitas (ROE) berpengaruh positif signifikan terhadap nilai perusahaan. Kata Kunci:kebijakan dividen, kebijakan utang, nilai perusahaan, profitabilitas. Abstract:This research was conducted with the aim to determine the effect of dividend policy, debt policy, profitability, managerial ownership, and audit committee on firm value. The technique of selecting this research sample using purposive sampling. The sample in this study were 75 manufacturing companies listed on the Stock Exchange in the period 2013-2017. This research data uses data from financial statements from each sample company. The data analysis of this study uses multiple regression analysis with the use of SPSS 24. The company value in this study is measured by Tobin’s Q ratio. The results of this study indicate dividend policy, debt policy, profitability, managerial ownership and audit committee jointly influence the firm value. The variable dividend policy (DPR), debt policy (DER), managerial ownership (KM) and audit committee (KA) did not affect the value of the company, while profitability (ROE) had a significant positive effect on firm value. Keywords:dividend policy, debt policy, firm value, profitability

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