The Influence of Liquidity, Dividend Policy and Profitability on Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2017-2021

Abstract

This study aims to determine the effect of liquidity, dividend policy and profitability on company value in manufacturing companies listed on the Indonesia Stock Exchange for the 2017-2021 period. The population used in this study was Manufacturing Companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2021 period while the sample of this study was 65 companies in manufacturing companies listed on the Indonesia Stock Exchange. The sample selection technique in this study used purposive sampling technique with the aim of obtaining a representative sample according to predetermined criteria. The amount of data used by each company is as much as 5 years multiplied by 65 companies, so that 325 financial statements of manufacturing companies are obtained. The type of data used is secondary data obtained from www.idx.co.id. The analysis method used is multiple linear regression analysis using IBM SPSS Statistics software version 25. This study obtained the result that Likuditias partially had a positive and significant effect on the value of the company with a significant value of 0.005. The dividend policy partially has a positive and significant effect on the value of the company with a significant value of 0.257. Profitability partially has a positive and significant effect on the value of the company with a significant value of 0.000. Liquidity, dividend policy and profitability together have a positive and significant effect on the value of the company with a significant value of 0.000. The results of the R2 test (coefficient of determination) on the adjusted r-square showed that the percentage of contribution of independent variables to the dependent variables was 0.226 or 22.6%.

The Effect of Debt Policy and Dividend Policy on Company Value With Company Size as a Moderation Variable

“…Hidayat (2013) shows that debt policy can significantly influence firm value. The results of research by Mardiyati, et al (2012) state that debt policy as measured using DER has a positive but not significant effect on firm value. Another study conducted by Pertiwi, et al (2016) states that debt policy has an insignificant effect on firm value.…”

“…Debt policy is a company policy regarding how far a company uses debt financing. (Mardiyati, et al, 2012) Debt policy is a company policy regarding how far a company uses debt as a source of funding. The use of debt policies can be used to create the desired corporate value.…”

The effect of company growth on sustainable performance: A moderating perspective of stock mispricing in Indonesia and Japan

“…These stages are sorted into the inhttp://dx.doi.org/10.21511/imfi.21 (2).2024. 26 troduction, growth, maturity, and decline stages. Among the four stages, the stage that is considered crucial for a company is the growth stage.…”

“…A company's growth, which reflects the company's operational success in the previous year's period, is used to predict future company growth. The company's growth is measured as a percentage increase or decrease in the company's assets in a certain year against the previous year (Sutrisno, 2007). At this stage, the company should develop a long-term strategy to ensure success in the future.…”