Pengaruh pertumbuhan aset, struktur modal, profitabilitas, dan kebijakan dividen terhadap nilai perusahaan

Manik, Melissa Yolanda Stephani (2021) Pengaruh pertumbuhan aset, struktur modal, profitabilitas, dan kebijakan dividen terhadap nilai perusahaan. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini bertujuan untuk mendaptakan bukti empiris mengenai pengaruh pertumbuhan aset, struktur modal, profitabilitas, dan kebijakan dividen terhadap nilai perusahaan. Populasi penelitian adalah perusahaan manufakur yang terdaftar di BEI pada tahun 2015-2019. Sampel dipilih menggunakan metode purposive sampling dengan kriteria sampel adalah perusahaan manufaktur memperoleh laba berturut-turut selama periode 2015-2019, perusahaan manufaktur membagikan dividen kas berturut-turut selama periode 2015-2019, sehingga diperoleh sampel sebanyak 34 perusahaan. Sumber data adalah laporan keuangan tahunan perusahaan manufaktur yang diambil melalui situs resmi Bursa Efek Indonesia (www.idx.co.id) dan S&P. Pengujian menggunakan analisis regresi linier berganda dengan alat bantu SPSS 25. Pertumbuhan aset diukur dengan menggunakan Growth, struktur modal diukur dengan menggunakan Debt to Equity Ratio, profitabilitas diukur dengan Return on Asset, kebijakan dividen diukur dengan Dividend Payout Ratio, serta nilai perusahaan diukur dengan Tobin’s Q. Hasil penelitian menunjukkan bahwa variabel pertumbuhan aset tidak berpengaruh terhadap nilai perusahaan, variabel struktur modal tidak berpengaruh terhadap nilai perusahaan, variabel profitabilitas berpengaruh terhadap nilai perusahaan, dan kebijakan dividen berpengaruh terhadap nilai perusahaan. Kata Kunci: Pertumbuhan Aset, Struktur Modal, Profitabilitas, Kebijakan Dividen, Nilai Perusahaan / The purpose of this study is to examine the affect of asset growth, capital structure, profitability, and dividend policy toward the firm’s value. The number of populations are manufacturing companies which are listed in Indonesia Stock Exchange in 2015-2019. The sample was selected using purposive sampling method, which are manufacturing companies that earn consecutive profit for 2015-2019, manufacturing companies that distribute cash dividends in 2015-2019, and obtained sample of 34 companies. Data source is the annual report of manufacturing companies taken through the official website of Indonesia Stock Exchange (www.idx.co.id) and S&P. The test used multiple linear regression analysis using SPSS 25 Program. Asset Growth proxy with Growth, capital structure proxy with Debt-to-Equity Ratio, profitability proxy with Debt-to-Equity Ratio, and dividend policy proxy with Dividend Payout Ratio. The result this study shows that asset growth has no effect to firm’s value, capital structure has no effect to firm’s value, profitability has effect to firm’s value, and dividend policy has effect to firm’s value. Key word: Asset Growth, Capital Structure, Profitability, Dividend Policy, Firm’s Value

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