Pengaruh leverage, profitabilitas, ukuran perusahaan, dan kebijkan dividen terhadap nilai perusahaan

Main Article Content

Melati Efesia Putri
Sunarto Sunarto

Abstract

This research was done to know the effect of variables of leverage, profitability, company size, and dividend policy on company value. The object of the research are companies on the Indonesia Stock Exchange listed on the LQ45 index 2016-2020 period. The data used is quantitative secondary data, taken from the financial statement data for the 2016-2020 period. The method used in this research is multiple linear regression model. The final sample that was get totally 168 observations from 68 LQ45 index companies. Tobin's Q measurement is used in measuring company value. Ratio calculation of variable leverage Debt to Equity Ratio, calculation of profitability variables using ROA Return on Total Assets, calculation of dividend policy using Dividend Payout Ratio, and the calculation of firm value using the formula ln(total assets). The results from this research are profitability positive influence on company value and company size is significantly positive on company value, while leverage does not affect on company value and no significant policy of company.

Article Details

How to Cite
Putri, M. E. ., & Sunarto, S. . (2022). Pengaruh leverage, profitabilitas, ukuran perusahaan, dan kebijkan dividen terhadap nilai perusahaan . Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 5(1), 246–256. https://doi.org/10.32670/fairvalue.v5i1.1896
Section
Articles

References

Aljana, T. B., & Purwanto, A. (2017). Pengaruh Profitabilitas, Struktur Kepemimpinan dan Kualitas Audit Terhadap Manajemen Laba (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2013-2015). Diponegoro Journal of Accounting, 6(3), 207–221.

Anton, S. G. (2016). The impact of dividend policy on firm value: A panel data analysis of Romanian listed firms. Journal of Public Administration, Finance and Law, 10(10), 107–112.

Arshida, M. M. (2012). Critical Success Factors (CSFs) for TQM Implementation: Current Status and Challenges in Libyan Manufacturing Companies. GSTF Journal on Business Review, 2(1), 71–79.

Brigham, Eugene F & Houston, Joel F. (2014). Dasar-Dasar Manajemen Keuangan (Essentials of Financial Management). Jakarta: Salemba Empat

Crane, A. D., Michenaud, S., & Weston, J. P. (2016). The Effect of Institutional Ownership on Payout Policy: Evidence from Index Thresholds. Review of Financial Studies, 29(6), 1377– 1408. https://doi.org/10.1093/rfs/hhw012

Dewi, P. P., & Edward Narayana, I. P. (2020). Implementasi Green Accounting, Profitabilitas dan Corporate Social Responsibility pada Nilai Perusahaan. E-Jurnal Akuntansi, 30(12), 3252. https://doi.org/10.24843/eja.2020.v30.i12.p20

Economics, E. O. F., Economics, P. O. F., Of, E., Issues, S., Economics, M., Economics, I., Economics, A., & Economics, U. (2013). Single-equation regression models. In Introductory Econometrics: A Practical Approach.

Frensidy, B., & Mardhaniaty, T. I. (2019). The Effect of Hedging with Financial Derivatives on Firm Value at Indonesia Stock Exchange. Economics and Finance in Indonesia, 65(1), 20. https://doi.org/10.47291/efi.v65i1.614

Gill, A., & Obradovich, J. (2012). The impact of corporate governance and financial leverage on the value of American firms. International Research Journal of Finance and Economics, 91(September), 46–56.

Hermuningsih, S., & Wardani, D. K. (2009). Faktor-Faktor yang Mempengaruhi Nilai Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Malaysia dan Bursa Efek Indonesia. Jurnal Siasat Bisnis, 13(2), 173–183. https://doi.org/10.20885/jsb.vol13.iss2.art5

Husna, A., & Satria, I. (2019). Effects of Return on Asset, Debt To Asset Ratio, Current Ratio, Firm Size, and Dividend Payout Ratio on Firm Value. International Journal of Economics and Financial Issues, 9(5), 50–54.

Husnan, Suad. (1996). Manajemen Keuangan Teori dan Penerapan (Keputusan Jangka Panjang). Yagyakarta: BPFE-Yogyakarta

Inka, N. H. B., & Achmad, H. A. (2013). The Effect of Price to Book Value ( PBV ), Dividend Payout Ratio ( DPR ), Return on Equity ( ROE ), Return on Asset ( ROA ), and Earning Per Share ( EPS ) Toward Stock Return of LQ 45 for the Period of 2006-2011. Review of Integrative Business and Economics Research, 2(2), 22–44.

Justina, D., & Simamora, A. J. (2017). Moderating role of firms’ rank in ASEAN corporate governance scorecard on effect of foreign ownership on firm value. Jurnal Siasat Bisnis, 21(2), 141–160. https://doi.org/10.20885/jsb.vol21.iss2.art4

Kusumo, I. J., Nur, E., & Yuyetta, A. (2018). Pengaruh Independensi, Kompetensi, Dan Tekanan Waktu Terhadap Kualitas Audit. Diponegoro Journal of Accounting, 8(1), 1–10.

Linawaty, L., & Ekadjaja, A. (2017). Analisis pengaruh leverage terhadap nilai perusahaan dengan kepemilikan manajerial dan arus kas bebas sebagai variabel pemoderasi. Jurnal Ekonomi, 22(1), 164–176. https://doi.org/10.24912/je.v22i1.189

Marantika, Abshor. (2012). Nilai Perusahaan (Firm Value) Konsep dan Implikasi. Bandar Lampung: Anugrah Utama Raharja (AURA)

Mardhiana, M. D. (2020). The Effect of Intellectual Capital on Price to Book Value with Good Corporate Governance as a Moderating Variable. journal of accounting finance and auditing studies (JAFAS), 6(4), 131–144.

Mowen, Maryanne M; Hansen, Don R & Heitger, Dan L. (2017). Dasar-Dasar Akuntansi Manajemen Edisi 5. Jakarta: Salemba Empat

Mudliar, M. (2016). Impact of Intellectual Capital Disclosure on Market Cap. IJCEM International Journal of Computational Engineering & Management, 19(4), 2230–7893.

Mulyawan, S. (2017). Manajemen Keuangan Setia Mulyawan pdf. In 1-48.

Ningtyas, M. (20014). Bab III - Metode Penelitian Metode Penelitian. Metode Penelitian, 32–41.

Novari, P. M., & Lestari, P. V. (2016). Pengaruh Ukuran Perusahaan, Leverage, Dan Profitabilitas Terhadap Nilai Perusahaan Pada Sektor Properti Dan Real Estate. E-Jurnal Manajemen Unud, 5(9), 5671–5694.

Pamungkas, H. S., & Puspaningsih, A. (2013). Pengaruh keputusan investasi, keputusan pendanaan, kebijakan dividen dan ukuran perusahaan terhadap nilai perusahaan. Jurnal Akuntansi & Auditing Indonesia, 17(2), 155–164.

Penman, Stephen H. (2013). Financial Statement Analysis and Security Valuation. Singapore: McGraw-Hill

Pratama, I. G. B. angga, & Wiksuana, I. G. B. (2016). 255140-Pengaruh- Ukuran-Perusahaan-Dan-Leverage-08C57Be4. 5(2), 1338–1367.

Purwanto, P., & Agustin, J. (2017). Financial performance towards value of firms in basic and chemicals industry. European Research Studies Journal, 20(2), 443–460.

Putra, B. A. I., & Sunarto, S. (2021). Pengaruh Profitabilitas, Leverage, dan Kepemilikan Manajerial Terhadap Nilai Perusahaan dengan Corporate Social Responsibility Sebagai Variabel Moderasi. Ekonomis: Journal of Economics and Business, 5(1), 149. https://doi.org/10.33087/ekonomis.v5i1.195