PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2005-2010 [JURNAL]
ABSTRACT
The main purposes of this research is to test the influence of dividend
policy, debt policy and profitability toward corporate value by considering good
corporate governance as control variable. This research uses manufacturing
companies population that listed on Indonesian Stock Exchange with the
observation period 2005-2010. Data collection method used purposive sampling
method. The amount of sample using 78 samples. This research is tested with
SPSS aplication. This research use ordinary least square method indicate that
dividend policy has a positif but not significant on corporate value, debt policy
has positif but not significant on corporate value, and profitability has positif
significant. Furthermore, this research using insider ownership as control
variable that only can changes one independent variable, there is: coefficient of
debt policy to corporate value. So, debt policy has negatif but not significant on
corporate value. Simultanously, variable of DPR, DER and ROE has significant
effect to PBV and with insider ownership as control variable, variable of DPR,
DER, ROE and insider ownership has significant effect to PBV.
Key words: Dividend Policy, Debt Policy, Corporate Value, Insider Ownership
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