Pengaruh Profitabilitas, Likuiditas dan Kebijakan Dividen Terhadap Nilai Perusahaan: Studi pada Industri Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019
Keywords:
Profitabilitas, Likuiditas, Kebijakan Dividen, Nilai PerusahaanAbstract
The goal of this research was to see how profitability, liquidity, and dividend policy affected firm value in food and beverage firms listed on the Indonesia Stock Exchange from 2015 to 2019. Profitability (as measured by Return on Assets), liquidity (as measured by Current Ratio), and dividend policy are the independent variables in this study (proxied by Dividend Payout Ratio). Firm value (as measured by Tobin's Q) is the dependent variable. In addition, this study also uses two control variables, namely firm size and firm age. The sample for this study included 15 food and beverage firms listed on the Indonesia Stock Exchange from 2015 to 2019, and the data analysis method was unbalanced panel data. Profitability had a positive effect on firm value, whereas liquidity and dividend policy did not affect firm value, according to the findings.
Tujuan dari penelitian ini adalah untuk mengetahui pengaruh dari profitabilitas, likuiditas, dan kebijakan dividen terhadap nilai perusahaan pada perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia Periode 2015-2019. Variabel bebas yang digunakan dalam penelitian ini adalah profitabilitas (diproksikan dengan Return on Asset), likuiditas (diproksikan dengan Current Ratio), dan kebijakan dividen (diproksikan dengan Dividend Payout Ratio). Sedangkan variabel terikat yang digunakan adalah nilai perusahaan (diproksikan dengan Tobin’s Q). Selain itu, penelitian ini juga menggunakan dua variabel kontrol, yaitu Ukuran Perusahaan dan Umur Perusahaan. Sampel yang digunakan dalam penelitian ini adalah 15 perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia Periode 2015-2019, dan penelitian ini menggunakan data panel unbalanced sebagai metode analisis data. Hasil penelitian menunjukkan bahwa profitabilitas memiliki pengaruh positif signifikan terhadap nilai perusahaan, sedangkan likuiditas dan kebijakan dividen tidak berpengaruh terhadap nilai perusahaan.
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