ANALISIS PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN
HUTANG, PROFITABILITAS TERHADAP NILAI PERUSAHAAN
PROPERTY DAN REAL ESTATE yang Terdaftar di BEI 2015-2017
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Institusion
Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta
Author
Melisa, Melisa
Subject
Manajemen Keuangan
Datestamp
2021-12-15 04:17:09
Abstract :
ABSTRAK Penelitian ini dilakukan dengan tujuan untuk menganalisis pengaruh kebijakan dividen, kebijakan hutang dan profitabilitas terhadap nilai perusahaan. Kebijakan dividen diukur menggunakan Dividend Payout Ratio (DPR), kebijakan hutang diukur dengan Debt to Equity Ratio (DER), dan profitabilitas diukur dengan Return on Equity (ROE). Penelitian ini merupakan penelitian deskriptif dengan pendekatan kuantitatif, dianalisis dengan menggunakan metode berbasis regresi data panel yang diolah menggunakan software Eviews versi 8.0 dan Microsoft Excel. Populasi penelitian ini adalah perusahaan property dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015-2017. Sampel ditentukan menggunakan metode Purposive Sampling sebanyak 21 perusahaan property dan real estate sehingga total observasi penelitian sebanyak 63 data. Data yang digunakan dalam penelitian ini yaitu data sekunder, berupa laporan keuangan dan laporan tahunan yang diunduh melalui situs resmi IDX www.idx.co.id. Pengujian hipotesis menggunakan uji parsial-t dan uji model?F. Hasil penelitian menunjukkan bahwa secara parsial kebijakan dividen dan profitabilitas tidak berpengaruh signifikan terhadap nilai perusahaan, sedangkan kebijakan hutang berpengaruh signifikan terhadap nilai perusahaan. Kebijakan dividen, kebijakan hutang, profitabilitas secara bersamaan berpengaruh signifikan terhadap nilai perusahaan. Kata Kunci: Kebijakan Dividen, Kebijakan Hutang, Profitabilitas, Nilai Perusahaan ABSTRACT This research was conducted with the aim to analyze the effect of dividend policy, debt policy and profitability of the company. Dividend policy is measured using Dividend Payout Ratio (DPR), the policy of debt as measured by the Debt to Equity Ratio (DER), and profitability is measured by Return on Equity (ROE) This research is a descriptive study with a quantitative approach, analyzed using panel data regression based methods that are processed using Eviews software version 8.0 and Microsoft Excel. The population of this research is the property and real estate companies listed on the Indonesia Stock Exchange (IDX) in 2015-2017. The sample was determined using Purposive Sampling as many as 21 property and real estate companies so that the total research observations were 63 data. The data used in this study are secondary data, in the form of financial reports and annual reports which are downloaded through the official website of IDX www.idx.co.id. Hypotesis testing uses partial t-test and F-model test. The results showed that the dividend policy and profitability partially did not significantly influence the value of the company, while the debt policy significantly influence the value of the company. Dividend policy, debt policy and profitability simultaneously have a significant effect on firm value. Keywords: Dividend Policy, Debt Policy , Profitability, Firm?s Value
ABSTRAK Penelitian ini dilakukan dengan tujuan untuk menganalisis pengaruh kebijakan dividen, kebijakan hutang dan profitabilitas terhadap nilai perusahaan. Kebijakan dividen diukur menggunakan Dividend Payout Ratio (DPR), kebijakan hutang diukur dengan Debt to Equity Ratio (DER), dan profitabilitas diukur dengan Return on Equity (ROE). Penelitian ini merupakan penelitian deskriptif dengan pendekatan kuantitatif, dianalisis dengan menggunakan metode berbasis regresi data panel yang diolah menggunakan software Eviews versi 8.0 dan Microsoft Excel. Populasi penelitian ini adalah perusahaan property dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015-2017. Sampel ditentukan menggunakan metode Purposive Sampling sebanyak 21 perusahaan property dan real estate sehingga total observasi penelitian sebanyak 63 data. Data yang digunakan dalam penelitian ini yaitu data sekunder, berupa laporan keuangan dan laporan tahunan yang diunduh melalui situs resmi IDX www.idx.co.id. Pengujian hipotesis menggunakan uji parsial-t dan uji model?F. Hasil penelitian menunjukkan bahwa secara parsial kebijakan dividen dan profitabilitas tidak berpengaruh signifikan terhadap nilai perusahaan, sedangkan kebijakan hutang berpengaruh signifikan terhadap nilai perusahaan. Kebijakan dividen, kebijakan hutang, profitabilitas secara bersamaan berpengaruh signifikan terhadap nilai perusahaan. Kata Kunci: Kebijakan Dividen, Kebijakan Hutang, Profitabilitas, Nilai Perusahaan ABSTRACT This research was conducted with the aim to analyze the effect of dividend policy, debt policy and profitability of the company. Dividend policy is measured using Dividend Payout Ratio (DPR), the policy of debt as measured by the Debt to Equity Ratio (DER), and profitability is measured by Return on Equity (ROE) This research is a descriptive study with a quantitative approach, analyzed using panel data regression based methods that are processed using Eviews software version 8.0 and Microsoft Excel. The population of this research is the property and real estate companies listed on the Indonesia Stock Exchange (IDX) in 2015-2017. The sample was determined using Purposive Sampling as many as 21 property and real estate companies so that the total research observations were 63 data. The data used in this study are secondary data, in the form of financial reports and annual reports which are downloaded through the official website of IDX www.idx.co.id. Hypotesis testing uses partial t-test and F-model test. The results showed that the dividend policy and profitability partially did not significantly influence the value of the company, while the debt policy significantly influence the value of the company. Dividend policy, debt policy and profitability simultaneously have a significant effect on firm value. Keywords: Dividend Policy, Debt Policy , Profitability, Firm?s Value
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