SARTONO, IMAM (2025) PENGARUH KEBERLANJUTAN, PROFITABILITAS, DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DIMODERASI KEBIJAKAN DIVIDEN (Studi pada Perusahaan Energi di Bursa Efek Indonesia). S2 thesis, Universitas Mercu Buana - Menteng.
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Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh keberlanjutan, profitabilitas, dan struktur modal terhadap nilai perusahaan, serta mengeksplorasi peran kebijakan dividen sebagai variabel moderasi pada perusahaan sektor energi yang tercatat di Bursa Efek Indonesia (BEI). Keberlanjutan diukur dengan ESG Score, profitabilitas dengan Return on Assets (ROA), dan struktur modal dengan Debt to Equity Ratio (DER). Kebijakan dividen sebagai variabel moderasi diukur menggunakan Dividend Payout Ratio (DPR). Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder berupa data panel dari 10 perusahaan sektor energi yang menjadi sampel, yang dipilih dari 89 perusahaan energi yang tercatat di BEI selama periode 2017–2023. Hasil penelitian menunjukkan bahwa profitabilitas dan struktur modal berpengaruh signifikan terhadap nilai perusahaan, sedangkan keberlanjutan tidak berpengaruh signifikan. Kebijakan dividen terbukti memoderasi secara negatif hubungan antara profitabilitas dan nilai perusahaan, namun tidak memoderasi hubungan antara keberlanjutan maupun struktur modal terhadap nilai perusahaan. Penelitian ini memberikan kontribusi terhadap pemahaman faktor-faktor yang memengaruhi nilai perusahaan di sektor energi serta menjadi dasar rekomendasi strategis bagi manajemen dan investor.This study aims to analyze the influence of sustainability, profitability, and capital structure on firm value, and to explore the role of dividend policy as a moderating variable in energy sector companies listed on the Indonesia Stock Exchange (IDX). Sustainability is measured using the ESG Score, profitability by Return on Assets (ROA), and capital structure by the Debt to Equity Ratio (DER). Dividend policy as a moderating variable is measured using the Dividend Payout Ratio (DPR). his research employs a quantitative approach with secondary data in the form of panel data from 10 energy sector companies that serve as the sample, selected from 89 energy companies listed on the IDX during the 2017–2023 period. The results indicate that profitability and capital structure have a significant influence on firm value, while sustainability does not have a significant effect. Dividend policy is found to negatively moderate the relationship between profitability and firm value, but does not moderate the relationship between either sustainability or capital structure and firm value. This study contributes to a better understanding of the factors affecting firm value in the energy sector and serves as a basis for strategic recommendations for both management and investors.
| Item Type: | Thesis (S2) |
|---|---|
| NIM/NIDN Creators: | 55123110042 |
| Uncontrolled Keywords: | keberlanjutan, profitabilitas, struktur modal, kebijakan dividen, nilai perusahaan. sustainability, profitability, capital structure, dividend policy, firm value. |
| Subjects: | 300 Social Science/Ilmu-ilmu Sosial > 330 Economics/Ilmu Ekonomi > 338 Production, Industrial Economics/Produksi, Ekonomi Industri 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 651 Office Services/Layanan Kantor |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | YOSUA EBENEZER PARDEDE |
| Date Deposited: | 05 Nov 2025 01:35 |
| Last Modified: | 05 Nov 2025 01:39 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/100027 |
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