scholarly journals The Effect of Profitability, Liquidity, and Capital Structure on Firm Value with Dividend Policy as a Moderating Variable in the Company Mining Listed on the Indonesia Stock Exchange

2021 ◽  
Vol 8 (12) ◽  
pp. 328-337
Author(s):  
Emelia Febrinawaty Cordiaz ◽  
Erlina . ◽  
Chandra Situmeang
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Analytical Technique ◽  
Independent Variables ◽  
Mining Companies ◽  
Policy Variable ◽  
Negative Effect ◽  
The Relationship

The purpose of this study is to examine and analyze the effect of profitability, liquidity, and capital structure on firm value in mining companies listed on the Indonesia Stock Exchange and to test whether dividend policy can moderate the relationship between the independent variables and the dependent variable. The population of this study is all mining companies listed on the Indonesia Stock Exchange from 2011 to 2019. The research sample was determined by the purposive sampling method, so a sample of 11 companies was multiplied by 9 years of research to obtain 99 observations. The analytical technique used in this study is moderating regression analysis (MRA) with Eviews 10 software tools. This study partially shows that profitability has a positive effect on firm value, liquidity has a negative effect on firm value, and capital structure has a negative effect on firm value. All of these independent variables together affect firm value. The dividend policy variable moderates the relationship between profitability and firm value but does not moderate the relationship between liquidity and capital structure on firm value. Keywords: profitability, liquidity, capital structure, dividend policy, firm value.

scholarly journals THE INFLUENCE OF PROFITABILITY RATIOS, CAPITAL STRUCTURE AND SHAREHOLDING STRUCTURE AGAINST ON VALUE COMPANY (EMPIRICAL STUDY OF COAL MINING COMPANIES LISTED ON THE STOCK EXCHANGE OF INDONESIA YEAR 2011-2013)

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Gilang Ramadhan Fajri ◽  
Dwi Asih Surjandari
Keyword(s):  
Empirical Study ◽  
Capital Structure ◽  
Coal Mining ◽  
Firm Value ◽  
Stock Exchange ◽  
Partial Regression Coefficient ◽  
Mining Companies ◽  
Negative Effect ◽  
Profitability Ratios ◽  
Positive Effect

This study has the objective to assess the "Influence of Profitability Ratios, Capital Structure and Shareholding Structure Against On Value Company (Empirical Study of Coal Mining Companies Listed on the Stock Exchange of Indonesia Year 2011-2013)" The analysis technique used in this research is multiple linear regression and hypothesis testing using tstatistic to test the partial regression coefficient and f-statistic to test the feasibility of the research model with a 10% level of significance. It also conducted a classic assumption test including normality test, multicolinearity test, heteroscedasticity test and autocorrelation test. Based on the results of the study indicate that Profitability Return on equity positive effect on firm value. Earning pershare significant positive effect on the value of the company. The capital structure has a positive effect on firm value. institutional ownership has significant negative effect on the value of the company. Managerial ownership negatively affect the value of the company

scholarly journals PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN DAN LIKUIDITAS TERHADAP PROFITABILITAS PERUSAHAAN PERBANKAN DI BURSA EFEK INDONESIA

2019 ◽  
Vol 8 (8) ◽  
pp. 4871
Author(s):  
Willy Tantono ◽  
Made Reina Candradewi
Keyword(s):  
Capital Structure ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Participant Observation ◽  
Secondary Data ◽  
Sampling Technique ◽  
Analytical Technique ◽  
Negative Effect ◽  
Observation Method ◽  
Positive Effect

This study was conducted to examinate the effect of capital structure, dividend policy and liquidity on profitability of bank that listed on Indonesia Stock Exchange period of 2015 to 2017. This study was associative research. The population of this study were 39 companies and observed during 2015 to 2017. The sampling technique used in this study was saturated samples. Based on these techniques, 39 companies obtained as samples. This study used the secondary data from IDX. The data collection methods used in this study was non participant observation method. The researcher used multiple linear regression as the analytical technique. SPSS 20 was used to help analyze. The result of analysis can be conclude Capital Structure had significant negative effect on profitability, Dividend policy had significant positive effect on profitability and Liquidity had positive significant effect on profitability. Keywords: profitability, capital structure, dividend policy, liquidity

scholarly journals Implikasi Profitabilitas Terhadap Nilai Perusahaan dan Kebijakan Dividen Sebagai Variabel Intervening (Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode 2009-2016)

2020 ◽  
Vol 17 (2) ◽  
pp. 150
Author(s):  
Hairudin Hairudin ◽  
Umar Bakti ◽  
Agung Rachmadi
Keyword(s):  
Path Analysis ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Mediating Effect ◽  
Mining Companies ◽  
Negative Effect ◽  
Positive Effect

This research examines and discovers the implication of profitability on firm value, and dividend policy as mediating effect at mining companies which are listed on Indonesian Stock Exchange in 2009-2016 with total samples, 5 companies. This study using path analysis to solve the problem with the help of SPSS 24. The result shows that Profitability and dividend policy have positive effect and significant on firm value, Profitability has negative effect on dividend policy, and dividend policy has no mediating effect between profitability and firm value.

scholarly journals Pengaruh Kebijakan Dividen, Ukuran Perusahaan, Struktur Modal terhadap Nilai Perusahaan pada Sektor Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2015-2017

2020 ◽  
Vol 4 (2) ◽  
pp. 376
Author(s):  
Munawarah Munawarah ◽  
Rosaulina Marpaung ◽  
Giabrella Octavia
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Sampling Method ◽  
Dividend Policy ◽  
Standard Sample ◽  
Stock Exchange ◽  
Significant Positive Effect ◽  
Mining Sector ◽  
Policy Variable ◽  
Positive Effect

Research aims to analyze the effect of the variable Dividend Policy, Company Size, Capital Structure partially or simultaneously on Firm Value. The analytical method used in this method aims to examine the population and sample. The population in this study are companies listed in the mining Sector Listed on the Indonesia Stock Exchange 2015-2017. This sampling method uses a purposive sampling method, so that the population is 41 companies and after performing a standard sample determination that the research sample is 16 companies multiplied by 3 years, the number of observations is 48 companies in the mining sector listed on the Indonesian stock exchange in 2015-2017. The hypothesis in this study was tested using multiple linear regression. In this study, which was tested partially (T test) showed that the Dividend Policy variable did not have a significant effect on Firm Value, Firm Size had a significant positive effect on Firm Value, Capital Structure had no significant effect on Firm Value.

scholarly journals UKURAN PERUSAHAAN MEMODERASI PENGARUH STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN

2020 ◽  
Vol 13 (2) ◽  
pp. 156
Author(s):  
Aprih Santoso ◽  
Teti Susilowati
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Sample Selection ◽  
Secondary Data ◽  
Financial Statement ◽  
Test Results ◽  
Negative Effect ◽  
Equity Ratio ◽  
The Relationship

The purpose of this study is to analyze the effect of capital structure (debt equity ratio / DER) on firm value (per book value / PBV) with firm size (SIZE) as a moderating variable. This study uses secondary data obtained from LQ 45 companies listed on the Indonesia Stock Exchange in 2015-2018. The population in this study is LQ 45 companies listed on the Indonesia Stock Exchange in the period 2015-2018. The reasons or sample selection based on certain criteria are based on: Companies that are LQ 45 companies listed on the Indonesia Stock Exchange during the 2015-2018 period and who already have and submit complete financial statement data so that the sample data processed is 120 companies (35 companies x 4 research periods). T test results indicate that the capital structure has a negative effect on company milai. The moderation test results in this study turned out that the size of the company moderates (strengthens) the relationship between capital structure and 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 KEPEMILIKAN INSTITUSIONAL, PROFITABILITAS, UKURAN PERUSAHAAN DAN PERTUMBUHAN PENJUALAN TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING

2019 ◽  
Vol 12 (1) ◽  
pp. 71
Author(s):  
Fatimah Nur Isnawati ◽  
Kesi Widjajanti
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Company Size ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Analytical Technique ◽  
The Relationship

<p>Tujuan dari penelitian ini adalah untuk mengukur dan menganalisis pengaruh kepemilikan institusional dan  rasio-rasio keuangan perusahaan (profitabilitas, ukuran perusahaan dan pertumbuhan penjualan) terhadap nilai perusahaan dengan struktur modal sebagai variabel intervening pada perusahaan-perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada periode 2013 - 2017. Populasi dalam penelitian ini sejumlah 135 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2013 – 2017. Teknik pengambilan sampel yang digunakan adalah <em>purposive sampling</em><em>.</em>Teknik analisis yang digunakan menggunakan program IBM SPSS (<em>Statistical Package for Sosial Science</em>) versi 20. Hasil penelitian menunjukkan hubungan positif signifikan antara variabel profitabilitas, ukuran perusahaan<em> </em>dan struktur modal dengan nilai perusahaan. Penelitian ini juga menunjukkan hubungan tidak signifikan antara kepemilikan institusional dan pertumbuhan penjualan<em> </em>dengan nilai perusahaan. Pada penelitian ini menunjukkan bahwa sturtur modal mampu memediasi hubungan antara profitabilitas, <em> </em>terhadap nilai perusahaan.  Struktur modal tidak mampu memediasi hubungan antara kepemilikan institusional, ukuran perusahaan, dan pertumbuhan penjualan terhadap nilai perusahaan. Implikasi penelitian ini untuk meningkatkan kinerja manajemen perusahaan sebaiknya lebih fokus dalam mengelola hasil laba perusahaan dan dapat memberikan keputusan-keputusan yang tepat untuk mendapatkan keuntungan yang berkesinambungan, juga harus dapat mengontrol efesiensi dan efektivitas biaya, mengelola sumber daya yang dimiliki agar dapat terus tumbuh dan berkembang menjadi perusahaan yang besar. Pengambilan keputasan yang tepat mengenai sumber pendanaan yang akan digunakan untuk kegiatan operasional perusahaan.</p><p> </p><p><em>The purpose of this study is to measure and analyze the influence of institutional ownership and company financial ratios (profitability, company size and sales growth) on firm value with capital structure as an intervening variable in manufacturing companies listed on the Indonesia Stock Exchange in the 2013 period - 2017. The population in this study were 135 manufacturing companies listed on the Indonesia Stock Exchange in the period 2013 - 2017. The sampling technique used was purposive sampling. The analytical technique used was the IBM SPSS program (Statistical Package for Social Science) version 20. Results The research shows a significant positive relationship between the variables of profitability, company size and capital structure with firm value. This study also shows the insignificant relationship between institutional ownership and sales growth with firm value. In this study, it shows that capital structure is able to mediate the relationship between profitability, and firm value. Capital structure is not able to mediate the relationship between institutional ownership, company size, and sales growth towards firm value. The implication of this research is to improve the performance of company management should be more focused in managing the results of company profits and can provide the right decisions to get sustainable benefits, also must be able to control efficiency and cost effectiveness, manage the resources they have in order to continue to grow and develop become a big company. Appropriate decision making regarding the source of funding to be used for the company's operational activities.</em></p>

scholarly journals Pengaruh Ukuran Dewan Direksi, Struktur Modal Dan Kebijakan Deviden Terhadap Nilai Perusahaan

2021 ◽  
pp. 24-31
Author(s):  
Hilda Mary ◽  
Nila Pratiwi ◽  
Dewi Andromeda
Keyword(s):  
Capital Structure ◽  
Board Of Directors ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Financial Reports ◽  
Independent Variables ◽  
The Board Of Directors

The study aimed was to analyze the effect of board size (UDD), capital structure (DER), and dividend policy (DPR) used as independent variables and firm value (PBV) used as the dependent variable. The data used are secondary data in the form of financial reports and annual reports from 2013 to 2017. The samples in this study were 100 companies listed on the Indonesia Stock Exchange. The results of the study indicate that the size of the board of directors (UDD) has a positive and significant effect on the value of the company. Capital structure (DER) which shows that it has a positive and significant effect on firm’s value (PBV). While Dividend Policy has a negative and significant effect on firm’s value (PBV).

scholarly journals THE EFFECT OF CAPITAL STRUCTURE, LIQUIDITY AND PROFITABILITY ON COMPANY VALUE IN THE FOOD SUB SECTOR AND BEVERAGES ON THE INDONESIA STOCK EXCHANGE

2021 ◽  
Vol 1 (3) ◽  
pp. 145-150
Author(s):  
Ni Wayan Rudini ◽  
Gusti Ayu Mahanavami ◽  
Nyoman Parta ◽  
Ni Nyoman Menuh
Keyword(s):  
Linear Regression ◽  
Capital Structure ◽  
Multiple Linear Regression ◽  
Firm Value ◽  
Stock Exchange ◽  
Analytical Technique ◽  
Company Value ◽  
Food And Beverage ◽  
Negative Effect ◽  
Positive Effect

This research is motivated by the inconsistency of the results of previous studies so that the purpose of this study is to determine the effect of capital structure, liquidity and profitability on firm value in the Food and Beverage Sub-Sector on the Indonesia Stock Exchange in 2016-2019. The population in this study is the Food and Beverage Sub-Sector companies on the Indonesia Stock Exchange in 2016-2019 through the website www.idx.co.id, where the sample used is 12 companies with 48 observations and the analytical technique used is the classical assumption test, multiple linear regression, and t test.  The results of the analysis show that the capital structure has a negative effect on firm value in the food and beverage sub-sector companies on the Indonesia Stock Exchange. Liquidity has a negative effect on firm value in food and beverage sub-sector companies on the Indonesia Stock Exchange. Profitability has a positive effect on firm value in food and beverage sub-sector companies on the Indonesia Stock Exchange. .

scholarly journals PENGARUH LIKUIDITAS DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERATING PADA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 4 (2) ◽  
pp. 12-19
Author(s):  
Evryl Claudia Tarigan ◽  
Jubi Jubi ◽  
Ady Inrawan ◽  
Supitriyani Supitriyani
Keyword(s):  
Linear Regression ◽  
Multiple Linear Regression ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Coefficient Of Determination ◽  
Negative Effect ◽  
Relationship Of ◽  
The Relationship

AbstrakTujuan penelitian ini adalah untuk mengetahui: 1. Gambaran likuiditas, profitabilitas, kebijakan dividen, dan nilai perusahaan. 2. Pengaruh likuiditas dan profitabilitas terhadap nilai perusahaan baik secara simultan maupun parsial. 3. Kemampuan kebijakan dividen dalam memoderasi hubungan likuiditas dan profitabilitas dengan nilai perusahaan pada Perusahaan Sub Sektor Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia secara parsial. Penelitian ini dilakukan dengan metode analisis deskriptif kualitatif dan analisis deskriptif kuantitatif. Pengumpulan data dilakukan dengan metode dokumentasi. Teknik analisis yang digunakan adalah uji asumsi klasik, analisis regresi linear berganda, koefisien korelasi dan determinasi serta uji hipotesis.Hasil penelitian ini dapat disimpulkan sebagai berikut: 1. Likuiditas, profitabilitas, dan kebijakan dividen mengalami peningkatan sedangkan nilai perusahaan mengalami penurunan. 2. Hasil pengujian regresi linear berganda tanpa variabel moderating diketahui bahwa likuiditas berpengaruh negatif, sementara profitabilitas berpengaruh positif terhadap nilai perusahaan. 3. Hasil pengujian regresi linear berganda dengan variabel moderating diketahui bahwa kebijakan dividen memperkuat hubungan likuiditas dengan nilai perusahaan, sementara kebijakan dividen memperlemah hubungan profitabilitas dengan nilai perusahaan. 4. Hasil uji hipotesis pertama dapat disimpulkan bahwa likuiditas dan profitabilitas berpengaruh signifikan terhadap nilai perusahaan secara simultan. Sedangkan secara parsial likuiditas berpengaruh tidak signifikan dan profitabilitas berpengaruh signifikan terhadap nilai perusahaan 5. Hasil uji hipotesis kedua dapat disimpulkan bahwa kebijakan dividen mampu memoderasi namun tidak signifikan hubungan likuiditas dan profitabilitas dengan nilai perusahaan secara parsial.Saran yang dapat diberikan adalah sebaiknya perusahaan mengelola aset lancarnya secara efisien, lebih produktif dalam mengelola aset dalam meningkatkan laba perusahaan, menjaga profitabilitas tetap meningkat dan meningkatkan pembagian dividen. Kata Kunci : Likuiditas, Profitabilitas, Kebijakan Dividen dan Nilai PerusahaanAbstract            The aim of this research are to determine: 1. The description of liquidity, profitability, dividend policy and firm value. 2. The effect of liquidity and profitability on the firm value either simultaneously or partially. 3. The ability of dividend policy in moderated the effect of liquidity and profitability on the firm value of the company at Food and Beverage Sub Sector Company Listed in Indonesia Stock Exchange partially. The research was using qualitative and quantitative desriptive analysis. The data collection was using documentation. The analysis techniques used are multiple linear regression, correlation coefficient, coefficient of determination,F test and t test.The results of this research concluded as follows: 1. Liquidity , profitability, and dividend policy has decreased, while firm value has decreased. 2. The results of multiple linear regression testing without moderating variable are known that liquidity has a negative effect, while profitability has a positive effect on the firm value. 3. The results of multiple linear regression test with moderating variable is known that dividend policy strengthens weakens the relationship of liquidity with firm value, while dividend policy weakens the relationship of profitability with firm value. 4. The results of the first hypothesis can be concluded that liquidity and profitability has a significant effect on the firm value simultaneously. While partially liquidity has no significant effect and profitability has a significant effect on firm value 5. The result of the second hypothesis test can be concluded that dividend policy is able to moderate but there is no significant relationship between liquidity and profitability with the firm value partially.The result of this research suggests that the company should manage its current assets efficiently, be more productive in managing assets in increasing company profits, keeps profitability steady and increases dividend distribution.Keywords: Liquidity, Profitability,Dividend Policy and Firm Value

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