Pengaruh Struktur Modal, Profitabilitas, dan Kebijakan Dividen terhadap Nilai Perusahaan Industri Barang Konsumsi di Bursa Efek Indonesia

  • Sherliyana Anggraini Universitas Riau
  • Kamaliah Universitas Riau
  • Novita Indrawati Universitas Riau
Keywords: struktur modal, profitabilitas, dividen, nilai perusahaan

Abstract

Tujuan dari penelitian ini adalah untuk menganalisis pengaruh struktur modal, profitabilitas dan kebijakan dividen terhadap nilai perusahaan. Populasi pada penelitian ini adalah perusahaan industri barang konsumsi yang terdaftar di Bursa Efek Indonesia. Teknik pengambilan sampel adalah purposive sampling dengan sampel akhir adalah 15 perusahaan yang membagikan kebijakan dividen tahun 2014-2018. Metode analisis data yang digunakan adalah regresi linear berganda dengan menggunakan SPSS. Hasil penelitian membuktikan bahwa struktur modal yang diproksikan dengan Debt to Asset Ratio (DAR) dan Debt to Equity Ratio (DER) berpengaruh positif dan signifikan terhadap nilai perusahaan. Profitablitas yang diproksikan dengan Return On Asset (ROA) berpengaruh postif terhadap nilai perusahaan, namun profitablitas yang diproksikan dengan Return On Equity (ROE) berpengaruh negatif dan signifikan terhadap nilai perusahaan. Kebijakan dividen diproksikan dengan Dividend Payout Ratio (DPR) berpengaruh postif terhadap nilai perusahaan, namun kebijakan dividen yang diproksikan dengan Dividend Yield (Yield) berpengaruh negatif dan signifikan terhadap nilai perusahaan. Struktur modal, profitabilitas dan kebijakan dividen secara simultan berpengaruh signifikan terhadap nilai perusahaan Industri Barang Konsumsi di Bursa Efek Indonesia.

The purpose of this study was to analyze the effect of capital structure, profitability, and dividend policy on firm value. The population in this study are consumer goods industrial companies listed on the Indonesia Stock Exchange. The sampling technique was purposive sampling with the final sample being 15 companies that distributed dividend policies in 2014-2018. The data analysis method used is multiple linear regression using SPSS. The results of the study prove that the capital structure proxied by Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER) has a positive and significant effect on firm value. Profitability proxied by Return On Assets (ROA) has a positive effect on firm value, but profitability proxied by Return On Equity (ROE) has a negative and significant effect on firm value. Dividend policy proxied by Dividend Payout Ratio (DPR) has a positive effect on firm value, but dividend policy proxied by Dividend Yield (Yield) has a negative and significant effect on firm value. Capital structure, profitability, and dividend policy simultaneously have a significant effect on the value of the Consumer Goods Industry company on the Indonesia Stock Exchange.

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Published
2021-07-26
Section
Articles
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