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PENGARUH KEBIJAKAN DIVIDEN, LEVERAGE, DAN KEPEMILIKAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN DENGAN GROWTH OPPORTUNITY SEBAGAI VARIABEL MODERATING (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2013-2017)
Abstract
The purpose of this study was to examine the effect of dividend policy, leverage, and institutional ownership on firm value. The statistical technique used in this study is regression analysis moderated by SPSS. The results obtained from this study are that dividend policy and institutional ownership have a positive and significant effect on firm value, leverage has a negative effect on firm value. Growth opportunities strengthen the influence of dividend and institutional value policies on companies independently of the company value sought with Tobin's Q as the dependent variable. This study uses growth opportunities as a moderating variable. This study uses secondary data obtained from the Indonesia Stock Exchange (IDX). This study used a sample of 199 manufacturing companies listed on the Indonesia Stock Exchange in the period 2013 - 2017. The data collection technique was purposive sampling method.
Abstrak
Tujuan dari penelitian ini ialah untuk menguji pengaruh kebijakan dividen, leverage, dan kepemilikan institusional kepada nilai perusahaan . Teknik statistik yang dipakai dalam penelitian ini ialah moderated regression analysis dengan SPSS. Hasil yang diperoleh dari penelitian ini memperlihatkan bahwa kebijakan dividen dan kepemilikan institusional berpengaruh positif dan signifikan pada nilai perusahaan, leverage berpengaruh negatif pada nilai perusahaan. Growth opportunity memperkuat pengaruh kebijakan dividen dan kepemilikan institusional terhadap nilai perusahaan secara independen terhadap nilai perusahaan yang dicari dengan Tobin’s Q sebagai variabel dependen. Penelitian ini memakai growth opportunity sebagai variabel moderating. Penelitian ini memakai data sekunder yang diperoleh dari Bursa Efek Indonesia (BEI). Penelitian ini memakai sampel 199 perusahaan manufaktur yang berada di Bursa Efek Indonesia pada periode 2013 - 2017. Teknik pengumpulan data dengan metode purposive sampling.
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DOI: https://doi.org/10.26877/sta.v4i2.10492
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