PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SEKTOR INFRASTRUKTUR, UTILITAS DAN TRANSPORTASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2017-2021

Virawati Virawati; Sepbeariska Manurung; Lenny D. Sembiring; Hery P. Silitonga

Virawati Virawati Sekolah Tinggi Ilmu Ekonomi Sultan Agung
Sepbeariska Manurung Sekolah Tinggi Ilmu Ekonomi Sultan Agung
Lenny D. Sembiring Sekolah Tinggi Ilmu Ekonomi Sultan Agung
Hery P. Silitonga Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Keywords: Profitability, Leverage, Dividend Policy and Firm Value

Abstract

This research was conducted using qualitive descriptive analysis and quatitative descriptive analysis. The object of this research is the Infrastructure, Utility, and Transportation Company on the Indonesia Stock Exchange in the 2017-2021 period. Data collection is done by the documentation method. The analysis technique used is the classical iassumption ianalysis, icorrelation icoefficient iand idetermination iand ihypothesis itesting. iThe iresult iof ithis iresearch ican ibe iconcluded: i1. iAverage iprofitability iand ifirm ivalue itends ito idecrease iwhile ileverage iand idividend ipolicy itends ito iincrease. i2. iThe iresult iof imultiple ilinear iregression ianalysis itest istates ithat iprofitability, ileverage iand idividend ipolicy ihas ia ipositive ieffect ion ifirm ivalue. i3. iSimple ilinear iregression ianalysis itest iresult istate ithat iprofitability, ileverage iand idividend ipolicy ihas ia ipositive ieffect ion ifirm ivalue. i4. iThe iresult iof ithe icorrelation icoefficient ianalysis itest istates ithat ithere iis ia iModerately iHigh iCorrelation ibetween iprofitability iwith ifirm ivalue, ithere iis ia iNegligible iCorrelation ibetween ileverage iwith ifirm ivalue iand ithere iis ia iLow iCorrelation ibetween idividend ipolicy iwith ifirm ivalue. i5. iF i(simultaneous) iH₀ itest iresult iare irejected: iprofitability, ileverage iand idividend ipolicy ihave ia isignificant ieffect ion ifirm ivalue. i6. T-test of H₀ profitability are rejected: profitability has a significant effect on firm value, H₀ leverage are accepted: leverage has an insignificant effect on firm value, H₀ dividend policy are accepted: dividend policy has an insignificant effect on firm value in the Infrastructure, Utility, and Transportation Company on the Indonesia Stock Exchange in the 2017-2021 Period.

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