ANALISIS PENGARUH PROFITABILITAS, STRUKTUR MODAL, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN YANG TERDAFTAR DI LQ 45 PERIODE 2015 – 2017

Abstract

Maximizing the value of a company is important for the company because the higher the value of a company, the better and more feasible for investors to invest. Therefore the company must be careful in making policy decisions considering that every financial decision can affect the value of the company and have an impact on achieving the objectives of the company. The underlying theory of the formation of this research is signaling theory, bird in the hand theory, and the theory of the firm.  Signaling theory explains how information reported impacts society.  Bird in the hand theory explains the impact of dividend distribution in a company.  The theory of the firm explains the characteristics of the company to maximize profits. This research was conducted on companies contained in the LQ 45 Index listed on the Indonesia Stock Exchange in the period 2015 - 2017. Using a purposive sampling method obtained a sample of 24 companies with the help of the SPSS 22 program. The data analysis technique used is multiple linear regression.  The results of this study indicate that the regression model used has met the classical assumption test. The results of the tests conducted indicate that data can be backed up.  The test results are normally distributed and pass the classical assumption test (Normality, Multicolonity, Heteroscedasticity, and Autocorrelation).  The results of the study show that (1) Profitability has an effect on Company Values, (2) Capital Structure has an effect on Company Values, and (3) Dividend Policies have an effect on Company Values.Keywords: Profitability, capital structure, dividend policy, value of company