Pengaruh Keputusan Investasi, Kebijakan Dividen dan Struktur Modal terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening
(pada Subsektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019)
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Abstract
Abstract
The purpose of this study was to determine the direct impact of investment decisions, dividend policy, capital structure on enterprise value and the direct impact of investment decisions, dividend policy, capital structure on enterprise value through profitability (ROE) in the food and beverage-sector of the IDX listed companies for the period 2015-2019. A targeted sampling technique was used in collecting samples, and 13 companies were obtained as research samples. Descriptive analysis and multiple linear regression were used as analysis methods and then expanded to include path analysis. Based on the results of the study, the price-to-earnings ratio, the payout ratio and the debt-to-equity ratio influence the return on equity. The return on equity variable affects price-to-book, and price-to-earnings, dividend payout ratio, leverage ratio has no impact on price-to-book, and variable price-earnings ratio, dividend payout ratio, leverage, return-on-equity affect book value at the same time
Abstrak
Tujuan penelitian ini untuk mengetahui pengaruh langsung keputusan investasi, kebijakan dividen, struktur modal terhadap nilai perusahaan serta pengaruh langsung keputusan investasi, kebijakan dividen, struktur modal terhadap nilai perusahaan melalui profitabilitas (ROE) pada sub sektor makanan serta minuman perusahaan yang listing di BEI periode tahun 2015-2019. Teknik purposive sampling digunakan dalam pengumpulan sampel dan diperoleh 13 perusahaan sebagai sampel penelitian. Analisis deskriptif dipergunakan menjadi metode analisis, regresi linier berganda lalu diperluas menggunakan path analysis. Berdasarkan hasil penelitian bahwa price earning ratio, dividend payout ratio serta debt to equity ratio berpengaruh terhadap return on equity. Variabel return on equity berpengaruh terhadap price to book value, dan price earning ratio, dividend payout ratio, debt to equity ratio tidak berpengaruh terhadap price to book value dan variabel price earning ratio, dividend payout ratio, debt to equity rasio, pengembalian ekuitas secara bersamaan mempengaruhi harga terhadap nilai buku
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