The Influence Of Financial Performance And Dividend Policy On Firm Value (Study At Manufacturing Companies Listed On Indonesian Stock Exchange Period Of 2010-2012)

Widyastuti, Pristiana (2014) The Influence Of Financial Performance And Dividend Policy On Firm Value (Study At Manufacturing Companies Listed On Indonesian Stock Exchange Period Of 2010-2012). Magister thesis, Universitas Brawijaya.

Abstract

Penelitian ini bertujuan untuk meneliti kinerja keuangan dan kebijakan dividen sebagai faktor yang mempengaruhi nilai perusahaan. Indikator kinerja keuangan kembali pada aset (ROA), pengembalian pada ekuitas (ROE), margin laba bersih (NPM). Indikator kebijakan dividen adalah rasio pembayaran dividen (DPR) dan dividen per saham (DPS). Kemudian, indikator nilai perusahaan adalah harga saham, harga ke nilai buku (PBV) dan harga untuk mendapatkan rasio (per). Objek penelitian ini adalah perusahaan manufaktur yang tercantum di Bursa Efek Indonesia (BEI) untuk periode 2010-2012. Berdasarkan uji statistik menggunakan parsial least square (pls), penelitian ini mengungkapkan bahwa kinerja keuangan memiliki pengaruh positif yang signifikan terhadap kebijakan dividen, kebijakan dividen memiliki pengaruh positif yang signifikan terhadap nilai perusahaan, kinerja keuangan memiliki pengaruh positif terhadap nilai perusahaan. Hasil penelitian ini mendukung model Lintner (1956) yang ditemukan ada hubungan antara kebijakan dividen dan nilai perusahaan.

English Abstract

This study aims to examine the financial performance and dividend policy as factors that is affecting firm value. The indicators of financial performance are Return on Asset (ROA), Return on Equity (ROE), Net Profit Margin (NPM). The indicators of dividen policy are Dividend Payout Ratio (DPR) and Dividend per Share (DPS). Then, the indicators of firm value are Stock Price, Price to Book Value (PBV) and Price to Earning Ratio (PER). The object of the research is manufacturing companies that listed on Indonesia Stock Exchange (IDX) for the period of 2010-2012. Based on the statistic test use Partial Least Square (PLS), this research revealed that financial performance has significantly positive influence on dividend policy, dividend policy has significantly positive influence on firm value, financial performance has significantly positive influence on firm value. The result of this research supports Lintner Model (1956) that found there are relationship between dividend policy and firm value.

Item Type: Thesis (Magister)
Identification Number: TES/352.43/WID/t/2014/041606031
Subjects: 300 Social sciences > 352 General considerations of public administration > 352.4 Financial administration and budgets
Divisions: S2/S3 > Magister Administrasi Bisnis, Fakultas Ilmu Administrasi
Depositing User: Nur Cholis
Date Deposited: 09 Dec 2016 13:28
Last Modified: 20 Apr 2022 01:38
URI: http://repository.ub.ac.id/id/eprint/156806
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