Effect of Profitability and Leverage Toward Dividend Policy and Firm Value

Sugiastuti, R.H.; Dzulkirom, Moch.; Rahayu, Sri

doi:10.18551/rjoas.2018-08.12

Cited by 6 publications

(19 citation statements)

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“…These results support Putu et al (2014) by using path analysis for the variable profitability of firm value with dividend policy as an intervening variable, the results concluded that profitability has a significant positive effect on dividend policy and dividend policy has a significant positive effect on firm value. Nevertheless, Sugiastuti et al (2018) opinion showed that profitability and dividend policy does not have a significant positive effect on firm value. However, profitability has a positive and significant effect on dividend policy and dividend policy, unable to mediate the relationship between the effect of profitability and firm value, whereas Rehman (2016) and Apriadi et al (2016) explained that profitability proxied by ROA and ROE has a significant effect on firm value; however, liquidity does not effect on firm value.…”

Section: Introductionmentioning

confidence: 95%

“…The activity ratio is the ratio used to know the level of efficiency to create sales/revenue, directly. The total assets turnover (TATO) represents the activity ratio (Subramanyam, 2014;Sugiastuti et al, 2018). Imelda and Sheila (2018) show that profitability has a positive effect on dividend policy, company size has no effect on dividend policy, leverage does not affect dividend policy, and free cash flow has no effect on dividend policy.…”

Section: Literature Review and Hypothesismentioning

confidence: 99%

“…This positive correlation is happening because if profitability is increasing, then the company's ability to pay dividends is also higher. Therefore, it will attract investors so that the value of the company will increase through an increase in share prices (Sugiastuti et al 2018;Apriadi et al (2016). Equity investors more attention to the long-term profitability and sustainability of large firms as the guarantee required of return and maximization shareholders' wealth.…”

Section: Effect Of Profitability On Firm Valuementioning

confidence: 99%

See 2 more Smart Citations

The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms

Santosa

Aprilia²,

Tambunan³

2020

IJFR

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This study aims to examine the relationship between financial performance with firm value with dividend policy as an intervening variable in an emerging market, Indonesia. The samples in this study are large firms listed on the Indonesia Stock Exchange (IDX). The sampling method uses a purposive sampling technique according to research criteria, especially members of the LQ45 index. The study used the data analysis by using multiple regression analysis, path analysis, and Sobel test to find the direct, indirect, and intervening effect and significance in this study. The results indicated that profitability and activity have a positive effect, leverage has a negative effect, but liquidity has no effect on the value of the firms. The subsequent analysis shows that profitability and leverage do not affect dividend policy, liquidity has a negative effect, while activity has a positive effect, significantly. Dividend policy has a positive effect on firm value. Liquidity and leverage do not affect the firm value, but profitability and activity effect positively on the firm value through intervening dividend policy. Conclusions: in general, financial performance indicates an influence on firm value and less effect on dividend policy. As an intervening variable, dividend policy weakens the effect of financial performance on firm value.

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Section: Introductionmentioning

confidence: 95%

Section: Literature Review and Hypothesismentioning

confidence: 99%

Section: Effect Of Profitability On Firm Valuementioning

confidence: 99%

See 1 more Smart Citation

The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms

Santosa

Aprilia²,

Tambunan³

2020

IJFR

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“…Dengan adanya fluktuasi akhirnya menimbulkan fenomena. Fenomena tersebut dapat terlihat pada tahun 2016-2017, dimana profitabilitas dan nilai perusahaan mengalami penurunan, lalu pada tahun 2017-2018 dan 2018-2019 dimana prօfitabilitas dan nilai perusahaan sama-sama mengalami kenaikan yang menandakan bahwa profitabilitas mempengaruhi nilai perusahaan secara positif, pene1itian Sugiastuti et al (2018), Wahyuni & Santoso (2019), serta Nuswandari et al (20l9) menyatakan mengenai profitabilitas tidak mempengaruhi nilai perusahaan, namun tabel di atas sejalan dengan penelitian Oktavia & Desmintari (20l6), Pertiwi,dkk. (20l6), serta Sucipto & Sudiyanto (20l8) menje1askan bahwa nilai perusahaan dipengaruhi secara signifikan dan positif oleh profitabilitas.…”

Section: Pendahuluanunclassified

Analisis Determinan Nilai Perusahaan Pada Sektor Pertanian di Bursa Efek Indonesia

Hazaroh¹,

Tristiarto²,

Fadila³

2021

inobis

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Penelitian kuantitatif ini bertujuan untuk mengidentifikasi determinan nilai perusahaan, variabel yang digunakan yaitu profitabilitas diukur menggunakan Return On Equity (ROE), Kebijakan Hutang diukur dengan Debt Equity Ratio (DER), Keputusan Investasi diukur dengan Price Earning Ratio (PER), dan CSR diukur dengan Corporate Social Responsibiiity Disclosure index (CSRDI). Populasi pada penelitian ini yaitu perusahaan sektor pertanian di Bursa Efek Indonesia tahun 20l6-20l9. Diperoleh sampel 8 perusahaan pertanian selama 4 tahun periode penelitian. Analisis data dilakukan dengan Microsoft Excel 20l9 dan uji hipotesis dengan Analisis Regresi Data Panel menggunakan program E-Views 10.0, dengan tingkat signifikansi yaitu 5%. Penelitian ini menunjukkan hasil bahwa profitabiiitas, kebijakan hutang, dan keputusan investasi tidak mempengaruhi nilai perusahaan, sedangkan Corporate Social Responsibiiity mempengaruhi nilai perusahaan secara signifikan negatif.

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“…Hasil analisis menunjukkan profitability (ROA) mempunyai pengaruh signifikan pada firm value (PBV). Hasil penelitian ini mendukung penelitian Rahmawati et al (2015), Rudangga dan Sudiarta (2016), Indriyani (2017), Dhani dan Utama (2017), Pasaribu dan Tobing (2017), Rahmanto (2017), Andriani (2018), Nandita dan Kusumawati (2018), dan Sugiastuti et al (2018), yang menyatakan bahwa profitability mempunyai pengaruh terhadap firm value.…”

Section: Pengaruh Profitabilitas Terhadap Nilai Perusahaanunclassified

Firm Size, sales growth, profitability dan firm value pada sektor basic industry and chemical

Alfinur

Hidayat

2021

MBR

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This study aims to explain the effect of firm size, sales growth, and profitability on firm value in manufacturing companies in the basic and chemical fields. The sampling technique using the purposive sampling technique was obtained by 40 companies in the basic and chemical fields listed on the Indonesia Stock Exchange (IDX). This type of research is quantitative research, using secondary data in the form of company financial statements obtained from www.idx.co.id, and multiple linear regression data analysis techniques. The results of this study indicate that firm size and profitability affect firm value, while sales growth does not affect firm value.

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Effect of Profitability and Leverage Toward Dividend Policy and Firm Value

Cited by 6 publications

References 0 publications

The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms

The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms

Analisis Determinan Nilai Perusahaan Pada Sektor Pertanian di Bursa Efek Indonesia

Firm Size, sales growth, profitability dan firm value pada sektor basic industry and chemical

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