Pengaruh Profitability, Capital Structure dan Dividend Policy terhadap Nilai Perusahaan Perbankan

Devney Mulia · Ignatius Roni Setyawan

11 citations0/0 files storedJurnal Manajerial Dan Kewirausahaan

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Financial Analysis and Corporate Governance Corporate Finance and Governance Financial Reporting and Valuation Research

Abstract

Tujuan penelitian ini adalah untuk mengetahui pengaruh profitability, capital structure dan dividend policy terhadap nilai perusahaan pada perusahaan sub sektor perbankan yang terdaftar di Bursa Efek Indonesia periode 2016-2020. Penelitian ini menggunakan metode purposive sampling untuk menentukan sampel. Jumlah sampel penelitian ini adalah 20 perusahaan perbankan (200 observasi). Pengumpulan data dilakukan melalui situs resmi Bursa Efek Indonesia yaitu idx.co.id dan ojk.go.id. Metode yang digunakan dalam penelitian ini adalah analisis regresi data panel berganda dan data diolah dengan menggunakan software Eviews10.0. Nilai perusahaan diukur dengan price to book value (PBV), profitability diukur dengan return on equity (ROE), capital structure diukur dengan capital adequacy ratio (CAR) dan dividend policy diukur dengan dividend per share (DPS). Hasil dalam penelitian ini menunjukkan bahwa profitability berpengaruh negatif dan signifikan terhadap nilai perusahaan, dividend policy berpengaruh positif dan signifikan terhadap nilai perusahaan, dan capital structure tidak berpengaruh signifikan terhadap nilai perusahaan. The purpose of this study is to examine the effects of profitability, capital structure and dividend policy on firm value in the banking sub-sector companies listed in Indonesian Stock Exchange period 2016-2020. This study uses purposive sampling method to determine the samples. The number samples of this study are 20 banking firms (200 observations). Data were collected through Indonesia Stock Exchange official website idx.co.id and ojk.go.id. The method used in this study were multiple panel data regression analysis and the data were processed by using Eviews10.0 software. Firm value is measured by Price to Book Value (PBV), profitability is measured by return on equity (ROE), capital structure is measured by capital adequacy ratio (CAR) and dividend policy is measured by dividend per share (DPS). The results in this study show that profitability has a negative and significant effect on firm value, dividend policy has a positive and significant effect on firm value, and capital structure do not have any significant influence on firm value.

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References

1958The Cost of Capital, Corporation Finance and the Theory of Investment 1961Dividend Policy, Growth, and the Valuation of Shares 1982The Effects of Dividends on Common Stock Prices Tax Effects or Information Effects?2019PENGARUH PROFITABILITAS, UKURAN PERUSAHAAN, STRUKTUR MODAL, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN MAKANAN DAN MINUMAN 2014PROFITABILITY, GROWTH OPPORTUNITY, CAPITAL STRUCTURE AND THE FIRM VALUE 2020Effect of financial performance on firms’ value of cable companies in Indonesia 2018Corporate Finance and Firm Value in The Indonesian Manufacturing Companies 2017What Explains the Difference in Leverage between Banks and Nonbanks?

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