Pengaruh Keputusan Investasi, Kebijakan Hutang Dan Kebijakan Dividen Terhadap Nilai Perusahaan

2019 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Ivan Somantri ◽  
Hadi Ahmad Sukardi
Keyword(s):  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Mining Sector ◽  
Dividend Policies ◽  
Negative Effect ◽  
Debt Policy ◽  
Debt Policies

This study aims to determine how to influence simultaneously and partially investment decisions, debt policy and dividend policy on firm value in mining sector companies listed on the Indonesia Stock Exchange for the period 2013-2017. The research method used in this study is descriptive and associative methods. The population in this study were mining sector companies listed on the Indonesia Stock Exchange in the period 2013-2017, which amounted to 43 companies. The sampling technique used in this study is non probability sampling with purposive sampling method, so that the number of samples obtained is 8 companies. While the data analysis used in this study is panel data regression analysis with the fixed effect method. The results of the study show that partially investment decisions and debt policies have a positive effect on firm value. While dividend policy has a negative effect on firm value. In addition, the results of the study simultaneously show that investment decisions, debt policies and dividend policies affect the value of the company. The amount of investment decisions, debt policy and dividend policy in contributing influence to earnings management is 34.14%.

scholarly journals Financial distress, growth opportunities, and dividend policy on firm value through company hedging policies

2020 ◽  
Vol 8 (1) ◽  
pp. 47-59
Author(s):  
I Putu Sudarma ◽  
Maria M. Ratna Sari
Keyword(s):  
Financial Distress ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Growth Opportunities ◽  
Dividend Policies ◽  
Analysis Technique ◽  
Hedging Policy ◽  
Positive Effect

This study aims to obtain empirical evidence of the effect of financial distress, growth opportunities, and dividend policies on firm value through company hedging policies. This research was conducted on property and real estate companies listed on the Indonesian stock exchange in 2016-2018. The sampling technique used purposive sampling, with several criteria, to get a sample size of 55 companies. The data analysis technique used is path analysis. Hypothesis testing shows that financial distress has a positive effect on hedging, while growth opportunities and dividend policy have no significant effect on hedging. Financial distress hurts firm value. Growth opportunities and dividend policy have a positive effect on firm value. This study also found that hedging has no significant effect on firm value. Also, this study is unable to prove the company's hedging policy as a mediating variable.

scholarly journals Pengaruh Rasio Profitabilitas, Leverage dan Kebijakan Dividen Terhadap Nilai Perusahaan Studi Pada Sektor Perbankan Di Bursa Efek Indonesia

2021 ◽  
Vol 3 (1) ◽  
pp. 27-38
Author(s):  
Ida Ayu Dinda Priyanka Maharani
Keyword(s):  
Firm Value ◽  
Dividend Policy ◽  
Banking Sector ◽  
Stock Exchange ◽  
Dividend Policies ◽  
Analysis Technique ◽  
Negative Effect ◽  
Dividend Irrelevance ◽  
Profitability Ratios

This study discusses the relationship between profitability ratios, leverage and dividend policy on firm value in the banking sector on the Indonesia Stock Exchange. The banking sector was chosen because the banking sector is one of the fastest growing sectors and has promising long-term business prospects. The high value of the company will affect the level of prosperity of shareholders. Several factors affect firm value, namely profitability, leverage, and dividend policy, which are factors that can be controlled by the company. This study uses Dividend Irrelevance Theory and Bird in The Hand Theory as the main theory in explaining the importance of profitability ratios, leverage ratios and dividend policies in increasing firm value. The analysis technique uses the Path Analysis estimation technique. The results of the study found that leverage has a negative and significant effect on firm value and leverage has a negative effect on dividend policy.

scholarly journals OWNERSHIP STRUCTURE, FREE CASH FLOW, ASSET STRUCTURE AND DIVIDEND POLICY ON DEBT POLICY

2020 ◽  
Vol 9 (1) ◽  
pp. 28
Author(s):  
Nirina Tahir ◽  
Asrudin Hormati ◽  
Zainuddin Zainuddin
Keyword(s):  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Institutional Ownership ◽  
Free Cash Flow ◽  
Annual Reports ◽  
Managerial Ownership ◽  
Negative Effect ◽  
Debt Policy

This study is designed based on problems related to debt policy. The debt policy in every company has a direct effect on the financial position. The use of debt that which too high provides great risk, but if the companies are able to manage debt properly; then the use of debt shall increase profits for shareholders. The purpose of this study was to determine and analyze the effects of managerial ownership, institutional ownership, free cash flow, assets structure, and dividend policy on companies indexed LQ-45 wich listed on the Indonesia Stock Exchange. The sampling technique of this study is purposive sampling which produced 85 observations. This study uses secondary data in the form of annual reports. The tool of analysis of this study is multiple regression with support of statistical package for social scientists (SPSS) software. The results show that: (1) managerial ownership has no effect on debt policy; (2) institutional ownership has a negative effect on debt policy; (3) free cash flow has a negative effect on debt policy; (4) assets structure has a negative effect on debt policy and (5) dividend policy has no effect on debt policy.

scholarly journals Pengaruh Keputusan Pendanaan, Keputusan Investasi, Kebijakan Dividen, Dan Arus Kas Bebas Terhadap Nilai Perusahaan

2020 ◽  
Vol 8 (3) ◽  
pp. 263-276
Author(s):  
Muhammad Fadly Bahrun ◽  
Tifah Tifah ◽  
Amrie Firmansyah
Keyword(s):  
Cash Flow ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Investment Decisions ◽  
Total Sample ◽  
Multiple Linear Regression Analysis ◽  
Free Cash Flow ◽  
Dividend Policies ◽  
Negative Effect

This study examines the effect of funding decisions, investment decisions, dividend policies, and free cash flow on firm value. The samples used in this study are consumer goods industry companies listed on the Indonesia Stock Exchange (IDX) during 2016-2019. Based on purposive sampling, the selected sample is 34 companies, so that the total sample is 136 observations. Hypothesis testing is carried out using multiple linear regression analysis of panel data. The test results show that funding decisions positively affect firm value, while investment decisions do not affect firm value. This study also shows that dividend policy and free cash flow have a negative effect on firm value.

scholarly journals Effect of Liquidity, Debt Policy, Company Growth, Board of Commissioners and Audit Committee on Dividend Policy

2019 ◽  
Vol 28 (3) ◽  
pp. 1650
Author(s):  
Putu Desy Pirdayanti ◽  
Dewa Gede Wirama
Keyword(s):  
Audit Committee ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Participant Observation ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Negative Effect ◽  
Company Growth ◽  
Debt Policy

This study aims to obtain empirical evidence regarding the effect of liquidity, debt policy, company growth, board of commissioners and audit committee on dividend policies of manufacturing companies listed on Indonesia Stock Exchange in 2013-2017. The method of determining the sample is using purposive sampling. The samples taken were 30 companies with 170 observations, by non-probability sampling method with purposive sampling technique. Data collected through non-participant observation.  Based on the results of research, debt policy and company growth have a negative effect on dividend policy, while liquidity, board of commissioners and audit committee have no significant effect on dividend policy. Keywords : Dividend policy, liquidity, debt policy, growth, board of commissioners, audit committee.

scholarly journals The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms

2020 ◽  
Vol 11 (4) ◽  
pp. 408
Author(s):  
Perdana Wahyu Santosa ◽  
Ovinda Aprilia ◽  
Martua Eliakim Tambunan
Keyword(s):  
Financial Performance ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Emerging Market ◽  
Sampling Technique ◽  
Activity Effect ◽  
Negative Effect ◽  
Research Criteria ◽  
Positive Effect

This study aims to examine the relationship between financial performance with firm value with dividend policy as an intervening variable in an emerging market, Indonesia. The samples in this study are large firms listed on the Indonesia Stock Exchange (IDX). The sampling method uses a purposive sampling technique according to research criteria, especially members of the LQ45 index. The study used the data analysis by using multiple regression analysis, path analysis, and Sobel test to find the direct, indirect, and intervening effect and significance in this study. The results indicated that profitability and activity have a positive effect, leverage has a negative effect, but liquidity has no effect on the value of the firms. The subsequent analysis shows that profitability and leverage do not affect dividend policy, liquidity has a negative effect, while activity has a positive effect, significantly. Dividend policy has a positive effect on firm value. Liquidity and leverage do not affect the firm value, but profitability and activity effect positively on the firm value through intervening dividend policy. Conclusions: in general, financial performance indicates an influence on firm value and less effect on dividend policy. As an intervening variable, dividend policy weakens the effect of financial performance on firm value.

ANALISIS NILAI PERUSAHAAN DARI ASPEK STRUKTUR MODAL, PERTUMBUHAN PENJUALAN, DAN KEBIJAKAN DIVIDEN PADA PERUSAHAAN FARMASI DI BEI PERIODE 2014-2019

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Fauzin Annisa ◽  
Agus Dwi Cahya
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Sales Growth ◽  
Company Value ◽  
Negative Effect

A pharmaceutical company is a healthcare company that focuses on researching, developing, and distributing drugs and/or medical devices. Firm value is the stock market value that reflects the wealth of the owner of a company. The purpose of this research is to examine whether capital structure, sales growth, and dividend policy have an influence on company value in the pharmaceutical sub-sector listed on the Indonesia Stock Exchange for the 2014-2019 period. The research population used is the pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange for the 2014-2019 period, totaling 12 companies. The sampling technique used purposive sampling and obtained 6 companies based on the criteria. The analytical method used in this research is multiple linear regression analysis assisted by the SPSS application system. The results showed that simultaneously capital structure, sales growth, and dividend policy have an influence on firm value. Partially the capital structure has a significant negative effect on company value. Sales growth partially has a positive and insignificant effect on company value. Partially the dividend policy has a significant positive effect on company value. Keywords: Capital Structure, Sales Growth, Dividend Policy, and Company Value.

scholarly journals PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DEVIDEN TERHADAP NILAI PERUSAHAAN

2020 ◽  
Vol 14 (1) ◽  
Author(s):  
Tania Ivanna A. Tanto ◽  
Aaron M. A. Simanjuntak ◽  
Bill J.C Pangayow
Keyword(s):  
Financial Management ◽  
Firm Value ◽  
Stock Price ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Dividend Policies ◽  
Company Value ◽  
Financial Decision

The value of the company is very important because the high value of the company will be followed by the high prosperity of shareholders. The higher the stock price, the higher the value of the company, in order to achieve company value, investors generally give their management to professionals. Optimizing company value can be achieved through the implementation of financial management functions, where one financial decision taken will influence other financial decisions and have an impact on the value of the company. This study aims to determine the effect of investment decisions, funding decision taken will influence other financial decision and have an impact on the value of the company. This study aims to determine the effect of investment decisions, funding decisions and dividend policies on firm value. The population in this study are all companies listed on the Indonesia Stock Exchange for the period 2014-2016 while sample selection using purposive sampling technique obtained 89 companies that will be used as samples in this study. The hypothesis testing uses multiple regression analysis. The results of the study partially show that investment decision affect the value of the company, funding decisions do not affect the value of the company and dividend policy does not affect the value of the company. While the simultaneous research resultshows that investment decisions, funding decisions and dividend policies have a significant effect on firm value

Pengaruh keputusan investasi, keputusan pendanaan, dan kebijakan dividen terhadap nilai perusahaan yang terdaftar di Bursa Efek Indonesia

2019 ◽  
Vol 8 (2) ◽  
Author(s):  
Dina Patrisia ◽  
Muthia Roza Linda ◽  
Ursa Yulianti
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
Secondary Data ◽  
Sampling Technique ◽  
Total Sample ◽  
Manufacturing Companies ◽  
Positive Direction ◽  
Company Value

This study aims to analyze the effect of investment decisions, funding decisions, and dividend policy on the value of the company. This research is classified as causative research. The populations in this study are all Manufacturing companies listed on the Stock Exchange in 2012-2016. The sampling technique in this study is using purposive sampling technique with a total sample of 213 samples. The data used is secondary data. The data analysis method used is multiple regression. The results showed that investment decision variables affect the value of the company in a positive direction, funding decisions affect the value of the company in a negative direction, and dividend policy affects the value of the company with a positive direction on Manufacturing companies listed on the IDX. With this research, it is expected that researchers who can further conduct research related to factors that influence the value of the company whose impact is higher than what researchers have met. By using different proxy and data processing methods to produce more accurate data processingKeywords: Investment decisions; funding decisions; dividend policy; company value

PROFITABILITY, GROWTH OPPORTUNITIES, LEVERAGE, UKURAN PERUSAHAAN, DAN KEBIJAKAN DIVIDEN

2017 ◽  
Vol 2 ◽  
pp. 227-240
Author(s):  
Diyan Lestari
Keyword(s):  
Automotive Industry ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Panel Regression ◽  
Positive Signal ◽  
Growth Opportunities ◽  
Return On Equity ◽  
Negative Effect

Dividend policy is one of the most important activities which investors will wait and interpret the action as a positive signal because it indicates the firm performance (a firm which distributes dividend considered has better performance). Dividend policy is a strategical decision since it will impact firm credibility and firm value. This study aims to analyze the effect of profitability, growth opportunities, leverage, and size on dividend policy in the automotive industry which listed in Indonesia Stock Exchange from 2009 to 2016. The automotive industry is one of Indonesian middle-class standard measurement and it will be the biggest automotive ASEAN market in 2019. We use secondary data and use pooling regression (panel regression) to analyze the result of the study. The result shows that profit margin, return on asset, and size has positive and statistically significant on dividend policy, growth opportunities has the negative effect and statistically significant on dividend policy, while return on equity and leverage do not affect the dividend policy. Keywords: Profitability, growth opportunities, leverage, firm size, dividend policy

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