Paket Lengkap Imbas Kebijakan Dividen, Kepemilikan Manajerial, Profitabilitas Dan Likuiditas Terhadap Nilai Perusahaan Pada Perusahaan Sektor Trade, Service Dan Investment Yang Terdaftar Di Bursa Imbas Indonesia Kala 2011 - 2015
Abstract: This study aims to examine the influence of dividend policy, managerial ownership, profitability and liquidity toward firm value. The population used in this study is a firm listed on the Indonesian Stock Exchange trade, service, and investment sector with a total of 122 firms. By purposive sampling method, yielded sample of 28 firms. Methods of data analysis using multiple linier regression. The results of this study indicate that dividend policy has a positive effect on firm value. When a company distributes dividends to investors for a certain period, then the return on investment of shareholders will also increase. It will also improve the existing market response to the company's stock price itself and ultimately the value of the company will also increase. Furthermore, managerial ownership does not affect the value of the company. Because with the difference of interest experienced by the management company with shareholders, will have an impact on the cost of agency is very high. As a result with such high cost it will impact the decrease in company performance and the value of the company will also be reduced. In this study, profitability has a positive effect on firm value. The greater the value of profitability ratios in a company, the higher the market response also owned by the company. In the end the share price and the value of the company will also simultaneously increase. Liquidity does not affect the value of the company. This situation occurs because of the difference in orientation, liquidity is usually short-term oriented while the value of the company is oriented on the long term so as not to show any significant influence.
Keywords: Firm Value, Dividend Policy, Managerial Ownership, Profitability, Liquidity
Penulis: Ahmad Jalil Karuniadi, Ulil Hartono
Kode Jurnal: jpmanajemendd171198
