Pengaruh financial perfomance terhadap nilai perusahaan dimoderasi dengan kebijakan dividen = The effect of financial performance on firm value moderated with dividend policy

Cunny, Ivana (2021) Pengaruh financial perfomance terhadap nilai perusahaan dimoderasi dengan kebijakan dividen = The effect of financial performance on firm value moderated with dividend policy. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini membahas terkait pengaruh dari rasio keuangan terhadap nilai perusahaan dengan Kebijakan Dividen sebagai pemoderasi. Dimana rasio keuangan yang digunakan dalam penelitian meliputi Current Ratio, Return on Asset dan Debt to Equity Ratio. Nilai perusahaan diproksikan dengan Tobin’s Q, serta variabel moderasi yaitu Kebijakan Dividen diproksikan dengan Dividend Payout Ratio. Penelitian ini menggunakan perusahaan manufaktur yang membagikan dividen positif yang listing di BEI selama periode 2017-2019 dan data didapat dari S&P Capital IQ. Terdapat 58 perusahaan yang menjadi sampel dalam penelitian. Hasil yang diperoleh yaitu (a) CR tidak berpengaruh signifikan terhadap Tobin’s Q, (b) ROA dan DER berpengaruh signifikan terhadap Tobin’s Q, (c) DPR dapat memoderasi hubungan CR dengan Tobin’s Q, (d) DPR tidak dapat memoderasi hubungan ROA dengan Tobin’s Q, (e) DPR dapat memoderasi hubungan DER dengan Tobin’s Q/This study discusses the effect of Financial Ratios on Firm Value with Dividend Policy as moderator. The financial ratios used in the study include Current Ratio, Return on Assets, and Debt to Equity Ratio. Firm value is proxied by Tobin's Q, and the moderating variable, namely Dividend Policy, is proxied by Dividend Payout Ratio. This research uses manufacturing companies that distribute positive dividends listed on the IDX during the 2017-2019 period and data obtained from S&P Capital IQ. There are 58 companies sampled in the study. The results obtained are (a) CR has no significant effect on Tobin's Q, (b) ROA and DER have a significant effect on Tobin's Q, (c) DPR can moderate the relationship between CR and Tobin's Q, (d) DPR cannot moderate the relationship between ROA and Tobin's Q, (e) DPR can moderate DER's relationship with Tobin's Q.

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