Analisis Pengaruh Kinerja Keuangan dan Good Corporate Governance Terhadap Nilai Perusahaan dengan Dividend Policy Sebagai Variabel Moderating

Hosada, Caren Carolina (2023) Analisis Pengaruh Kinerja Keuangan dan Good Corporate Governance Terhadap Nilai Perusahaan dengan Dividend Policy Sebagai Variabel Moderating. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Tujuan penelitian ini adalah untuk menganalisa pengaruh Kinerja Keuangan dan Good Corporate Governance dengan Kebijakan Dividen sebagai variabel moderasi, pada perusahaan manufaktur yang ada di Indonesia dan terdaftar di Bursa Efek Indonesia (BEI). Penelitian ini dilakukan dengan menggunakan variabel kontrol sebagai berikut; ukuran perusahaan, leverage, sales growth, dan usia perusahaan. Data yang digunakan bersumber dari Bursa Efek Indonesia, tahun 2017 hingga 2021 (lima tahun), dengan jumlah sampel sebanyak 278 (dua ratus tujuh puluh delapan) sampel yang ditentukan dengan Teknik purposive sampling. Data yang digunakan merupakan data sekunder yang diperoleh melalui website S&P Capital IQ, dan menggunakan metode akrual diskresioner dengan menggunakan aplikasi SPSS versi 16.0 untuk memperoleh hasil pengujian terlampir. Penelitian ini menyatakan bahwa secara simultan variabel Profitabilitas, Kepemilikan Manajerial, Komisaris Independen, Komite Audit, Political Connection, dan Kebijakan Dividen, sedangkan secara parsial ditunjukkan bahwa Profitabilitas, Kepemilikan Manajerial, Komisaris Independen berpengaruh positif signifikan terhadap Nilai Perusahaan, sebaliknya Political Connection berpengaruh secara negatif terhadap Nilai Perusahaan. Sedangkan, Komite Audit dan Kebijakan Dividen ditemukan tidak memberikan dampak terhadap Nilai Perusahaan. Namun, Kebijakan Dividen mampu memperkuat hubungan Komite Audit dan Political Connection terhadap Nilai Perusahaan, dan memperlemah Profitabilitas, Kepemilikan Manajerial, dan Komisaris Independen terhadap Nilai Perusahaan. / The purpose of this study was to analyze the effect of Financial Performance and Good Corporate Governance with Dividend Policy as a moderating variable, on manufacturing companies in Indonesia and listed on the Indonesia Stock Exchange (IDX). This research was conducted using control variables as follows; company size, leverage, sales growth, and company age. The data used is sourced from the Indonesia Stock Exchange from 2017 to 2021 (five years), with a total sample of 278 (two hundred and seventy eight) samples determined by a purposive sampling technique. The data used is secondary data obtained through the S&P Capital IQ website, and uses the accrual discretionary method using the SPSS application version 16.0 to obtain the attached test results. This study states that simultaneously the variables Profitability, Managerial Ownership, Independent Commissioner, Audit Committee, Political Connection, and Dividend Policy, while partially indicating that Profitability, Managerial Ownership, Independent Commissioner have a significant positive effect on Firm Value, on the other hand Political Connection has a negative effect to Company Value. Meanwhile, the Audit Committee and Dividend Policy were found to have no impact on Company Value. However, the Dividend Policy was able to strengthen the relationship between the Audit Committee and Political Connection to Company Value, and weaken Profitability, Managerial Ownership and Independent Commissioners on Company Value.

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