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

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

scholarly journals Analisis Pengaruh Profitabilitas, Ukuran Perusahaan, Keputusan Investasi, dan Kebijakan Utang Terhadap Nilai Perusahaan

2019 ◽  
Vol 3 (1) ◽  
pp. 77
Author(s):  
Lasmanita Rajagukguk ◽  
Valencia Ariesta ◽  
Yunus Pakpahan
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Secondary Data ◽  
Tobin’S Q ◽  
Manufacturing Companies ◽  
Process Data ◽  
Tobin's Q ◽  
Debt Policy

Abstract: This study aims to analyze the effect of profitability, firm size, investment decisions, and debt policy on firm value. The research method used is quantitative research. In this study, company value is measured using Tobin's Q. The data in this study are secondary data in the form of annual financial statements of audited manufacturing companies and published as listed on the Indonesia Stock Exchange for the period of 2012 to 2016. The statistical method used is analysis of multiple linear regression using the SPSS version 22.00 program to process data. The study found that profitability, company size, and debt policy significantly influence the value of the company, while investment decisions do not affect the value of the company. Keywords: firm value, profitability, firm size, debt policy, investment decisions.  Abstrak. Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, ukuran perusahaan, keputusan investasi, dan kebijakan utang terhadap nilai perusahaan.Metode penelitian yang digunakan adalah penelitian kuantitatif. Dalam penelitian ini, nilai perusahaan diukur dengan menggunakan Tobin’s Q. Data dalam penelitian ini adalah data sekunder berupa laporan keuangan tahunan perusahaan manufaktur yang telah diaudit dan dipublikasikan yang tercatat di Bursa Efek Indonesia periode tahun 2012 sampai dengan tahun 2016. Metode statistik yang digunakan adalah analisis regresi linear berganda dengan menggunakan program SPSS versi 22.00 untuk mengolah data. Penelitian menemukan bahwa profitabilitas, ukuran perusahaan, dan kebijakan utang berpengaruh signifikan terhadap nilai perusahaan, sedangkan keputusan investasi tidak berpengaruh terhadap nilai perusahaan. Kata kunci: Nilai perusahaan, profitabilitas, ukuran perusahaan, kebijakan utang, keputusan investasi.

scholarly journals PENGARUH STRUKTUR KEPEMILIKAN, PROFITABILITAS DAN KEBIJAKAN KEUANGAN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019)

2020 ◽  
Vol 5 (2) ◽  
pp. 19-28
Author(s):  
Nadya Shafira Ramadhani ◽  
Ahmad Subaki ◽  
Ahmad Sonjaya
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sample Selection ◽  
Investment Policy ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Policy Variable ◽  
Debt Policy

ABSTRACTThis study aims to determine how the influence of ownership structure, profitability, dividend policy, debt policy and investment policy on company value in manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. In this research, the method of explanation is used. The variables in this study are managerial ownership structure (X1), profitability (X2), dividend policy (X3), debt policy (X4), investment policy (X5) and firm value (Y). The population of this research is manufacturing companies listed on the Indonesia Stock Exchange. The sample selection technique used was purposive sampling. The results of this study indicate that partially managerial ownership has no effect on firm value. Profitability variable partially affects firm value. Dividend policy variable partially has no effect on firm value. The debt policy variable partially affects firm value. The investment policy variable partially affects 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 Faktor Yang Mempengaruhi Kebijakan Dividen Dimediasi Kepemilikan Manajerial Yang Tercatat Di BEI

2020 ◽  
Vol 2 (1) ◽  
pp. 222
Author(s):  
Patricia Kurnikova Deli ◽  
Ignatius Roni Setyawan
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Policy Research ◽  
Secondary Data ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Price Earnings Ratio ◽  
Negative Effect ◽  
Debt Policy

The study was conducted with the aim of proving that debt policy and price earning ratio affect dividend policy with managerial ownership as a mediating variable. In the study using a population of all companies included in manufacturing companies listed on the Indonesia Stock Exchange, using purposive sampling the total used in the study was 33 companies with secondary data taken from https://www.idx.co.id/. The result in this research prove that debt policy has a negative effect on dividend policy, while the price earning ratio has a positive effect on dividend policy. Then the presence of managerial ownership has a negative effect on debt policy research and price earnings ratio against dividend policy.  Penelitian dilakukan dengan tujuan membuktikan bahwa kebijakan hutang dan price earning ratio berpengaruh kepada kebijakan dividen dengan kepemilikan manajerial sebagai variabel mediasi. Dalam penelitian menggunakan populasi seluruh perusahaan yang termasuk dalam perusahaan manufaktur yang tercatat di Bursa Efek Indonesia, dengan menggunakan purposive sampling maka total sampel yang digunakan dalam penelitian yaitu sebanyak 33 perusahaan dengan data sekunder yang diambil dari https://www.idx.co.id/ . Hasil dalam penelitian membuktikan bahwa kebijakan hutang berpengaruh negative terhadap kebijakan dividen, sedangkan price earning ratio berpengaruh positif terhadap kebijakan dividen. Kemudian dengan adanya kepemilikan manajerial berpengaruh negative dalam penelitian kebijakan hutang dan price earning ratio terhadap kebijakan dividen.

scholarly journals ANALISIS PERSAMAAN SIMULTAN DARI TOBIN’S Q, KEPEMILIKAN MANAJERIAL DAN KEBIJAKAN UTANG

2007 ◽  
Vol 9 (1) ◽  
pp. 93
Author(s):  
Wahidawati Wahidawati
Keyword(s):  
Firm Value ◽  
Simultaneous Equation ◽  
Least Square ◽  
Managerial Ownership ◽  
Tobin’S Q ◽  
Agency Conflicts ◽  
Manufacturing Companies ◽  
Tobin's Q ◽  
Non Linear ◽  
Linear Simultaneous Equation

The purpose of this research to estimates a simultaneous equations model with Tobin’s Q (firm value), managerial ownership and debt policy jointly determined within the system. This research is based on the pre¬vious¬ research by Chen and Steiner (2000), which found that managerial ownership tobe a significant and positive determinant of the level Tobin’s Q. Chen and Steiner (1999) observed evidence of subtituons-monitoring effects between managerial ownership and debt policy.The research is focused on manufacturing companies listed in BEJ for periode 1999-2002.The method of data collection is done by using pooling method and give 151 firm year observation.This research uses a non linear simultaneous equation methodology with use the statistical method two stage least square. The result of research provides empirical evidence : First, that managerial ownership has a non linear relation with Tobin’s Q (we find support for both an alignmenteffect and an entrenchment effectin the relationship between managerial ownership and Tobin’s Q. second, The result supports the argument that managerial ownership helps to resolve the agency conflicts between stock holder and manager. The result also indicate that there is not subtitu¬ta¬bi¬li¬ty between debt and managerial ownership.

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

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

<p class="Default" align="center"><strong><em>Abstract</em></strong><em></em></p><p class="Default"><em>The 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.</em></p>

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

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

scholarly journals Perngaruh Kinerja Keuangan Dan Intellectual Capital Terhadap Nilai Perusahaan Yang Terdaftar di BEI

2021 ◽  
Vol 3 (1) ◽  
pp. 89
Author(s):  
Nadya Variaty ◽  
Khairina Natsir
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Quantitative Data ◽  
Stock Exchange ◽  
Sampling Techniques ◽  
Panel Regression ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Purposive Sampling ◽  
Food And Beverages

The purpose of this study was to determine the effect of profitability, leverage, and intellectual capital on the value of the firm of the consumers goods sectors listed in indonesian stock exchange in the periode of 2014-2018. The proxy used to measure firm value is Tobin’s Q method, profitability is measured by ROA ratio, leverage is measured by DER ratio, and intellectual capital measured by VAHU ratio. The research method used causal research using quantitative data and purposive sampling techniques. The research sampel consisted of 11 companies with 55 observational data. Data analysis was performed using a panel regression model using E-Views 9.0 software. The results showed profitability, leverage, and intellectual capital significantly influence the value on the value of the firm in food and beverages companies in Indonesia stock exchange.Tujuan dari penelitian ini adalah untuk mengetahui pengaruh profitabilitas, leverage, dan intellectual capital terhadap nilai perusahaan pada perusahaan F&B yang terdaftar di Bursa Efek Indonesia pada periode 2014-2018. Proksi yang digunakan untuk mengukur Nilai perusahaan adalah metode Tobin’s Q, profitabilitas diukur dengan ROA, leverage diukur dengan DER, intellectual capital diukur dengan VAHU. Penelitian ini merupakan penelitian kausal dengan data kuantitatif dan metode purposive sampling. Sampel penelitian adalah 11 perusahaan dengan 55 data observasi selama periode 2014- 2018. Data dianalisis dengan model regresi data panel menggunakan perangkat lunak EViews 9.0. Hasil penelitian ini menunjukan profitabilitas, leverage, dan intellectual capital secara parsial memiliki pengaruh yang signifikan terhadap nilai perusahaan pada perusahaan food and beverages yang terdaftar di Bursa Efek Indonesia periode 2014- 2018.

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

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

scholarly journals PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG, PROFITABILITAS DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019

2021 ◽  
Vol 4 (1) ◽  
pp. 15-27
Author(s):  
Desi eka Ardiani ◽  
Sri Hermuningsih ◽  
Ratih Kusumawardani
Keyword(s):  
Consumer Goods ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Managerial Ownership ◽  
Financial Reports ◽  
Insignificant Effect ◽  
Industrial Companies ◽  
Consumer Goods Industry ◽  
Debt Policy

Penelitian dilakukan guna menganalisis pengaruh kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial terhadap nilai perusahaan subsektor industri barang konsumsi yang telah terdaftar di Bursa Efek Indonesia tahun 2015-2019. Populasi terdiri dari seluruh perusahaan industri barang konsumsi tahun 2015 hingga 2019. Sampel penelitian ini yaitu 8 perusahaan subsektor industri barang konsumsi dan seri waktu 5 tahun dari 2015 sampai 2019. Data didapatkan melalui laporan keuangan tahunan di Bursa Efek Indonesia (BEI) memakai metode purposive sampling yakni didasarkan pada kriteria tertentu. Metode analisis memakai analisis regresi berganda, asumsi kalsik dan uji hipotesis dengan tingkat memakai program SPSS. Hasil yang telah diselesaikan kebijakan dividen(DPR) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kebijakan hutang(DER) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Profitabilitas(ROA) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kepemilikan manajerial(KM) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Kemudian bersama-sama kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial berpengaruh terhadap nilai perusahaan. AbstractThis study aims to analyze the effect of dividend policy, debt policy, profitability, and managerial ownership on the value of the consumer goods industry sub-sector companies that have been listed on the Indonesia Stock Exchange in 2015-2019. The population used is all consumer goods industrial companies from 2015 to 2019. The sample of this research is 8 companies in the consumer goods industry subsector and a 5-year time series from 2015 to 2019. Data is obtained from annual financial reports on the Indonesia Stock Exchange (IDX) using a purposive method. sampling that is based on certain criteria. The analytical method used is multiple regression analysis, calcic assumptions, and hypothesis testing using the SPSS program. The results that have been finalized dividend policy (DPR) have a positive and significant effect on firm value. Debt policy (DER) has a positive and insignificant effect on firm value. Profitability (ROA) has a positive and significant effect on firm value. Managerial ownership (KM) has a positive and insignificant effect on firm value. Meanwhile, collectively, dividend policy, debt policy, profitability, and managerial ownership affect firm value.

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