SUSANTI, NENENG LASMITA (2014) PENGARUH STRUKTUR MODAL, PERTUMBUHAN PERUSAHAAN, PROFITABILITAS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN STUDI PADA EMITEN SEKTOR MANUFAKTUR DI BEI. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.
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Abstract
Penelitian bertujuan untuk mengetahui signifikansi: (1) pengaruh struktur modal terhadap kebijakan dividen, (2) pengaruh pertumbuhan perusahaan terhadap kebijakan dividen, (3) pengaruh profitabilitas terhadap kebijakan dividen, (4) pengaruh struktur modal terhadap nilai perusahaan, (5) pengaruh pertumbuhan perusahaan terhadap nilai perusahaan, (6) pengaruh profitabilitas terhadap nilai perusahaan, dan (7) pengaruh kebijakan dividen terhadap nilai perusahaan. Sampel adalah emiten sektor manufaktur di BEI yang listing di BEI tahun 2009-2013 berjumlah 18 emiten dengan teknik sampling melalui sampling purposive. Pengumpulan data menggunakan teknik observasi terstruktur. Variabel penelitian yang digunakan adalah struktur modal, pertumbuhan perusahaan, profitabilitas, dan kebijakan dividen sebagai variabel independen serta nilai perusahaan adalah variabel dependen. Analisis data melalui analisis statistik deskriptif, uji asumsi klasik, dan uji hipotesis menggunakan model regresi berganda dengan dengan SPSS 16.0. Hasil penelitian diperoleh: (1) struktur modal berpengaruh negatif signifikan terhadap kebijakan dividen dengan koefisien regresi DER (β1) = -8,591 dan nilai sig. = 0,002, (2) Pertumbuhan perusahaan berpengaruh negatif tidak signifikan terhadap kebijakan dividen dengan koefisien regresi PTA (β2) = -0,261 dan nilai sig. = 0,223, (3) profitabilitas berpengaruh positif signifikan terhadap kebijakan dividen dengan koefisien regresi ROA (β3) = 0,616 dan nilai sig. = 0,000, (4) struktur modal berpengaruh negatif signifikan terhadap nilai perusahaan dengan koefisien regresi DER (β1) = -0,967 dan nilai sig. = 0,002, (5) pertumbuhan perusahaan berpengaruh positif tidak signifikan terhadap nilai perusahaan dengan koefisien regresi PTA (β2) = 0,006 dan nilai sig. = 0,784, (6) profitabilitas berpengaruh positif signifikan terhadap nilai perusahaan dengan koefisien regresi ROE (β3) = 0,185 dan nilai sig. = 0,000, dan (7) kebijakan dividen berpengaruh positif signifikan terhadap nilai perusahaan dengan koefisien regresi ROE (β4) = 0,039 dan nilai sig. = 0,001. Hasil penelitian juga menemukan struktur modal berpengaruh dominan terhadap kebijakan dividen dibandingkan profitabilitas dan struktur modal juga berpengaruh lebih dominan terhadap nilai perusahaan daripada profitabilitas dan kebijakan dividen. Kata kunci : struktur modal, pertumbuhan perusahaan, profitabilitas, kebijakan dividen, nilai perusahaan. This study aims to determine the significance of: (1) the effect of capital structure on dividend policy, (2) the effect of growth on dividend policy, (3) the effect of profitability on dividend policy, (4) the effect of capital structure on value of the firm, (5) the effect of growth of value of the firm, (6) the effect of profitability on value of the firm, and (7) the effect of dividend policy on value of the firm. Samples were manufacturing sector issuers listed on the Stock Exchange in 2008-2011 were 18 issuers with sampling through purposive sampling technique. Collecting data using a structured observation techniques. The variables used in this study are the capital structure, the firm growth, profitability, and dividend policy as the independent variable and value of the firm is the dependent variable. Analysis of the data through descriptive statistical analysis, the classical assumption test, and test hypotheses using multiple regression models with SPSS 16.0. The results of this study showed: (1) significant negative effect of capital structure on dividend policy with DER regression coefficient (β1) = -8.591 and sig. = 0.002, (2) growth of the company significant negative effect on dividend policy with GTA regression coefficient (β2) = - 0.261 and sig. = 0.223, (3) significant positive effect on the profitability of dividend policy with ROA regression coefficient (β3) = 0.616 and sig. = 0.000, (4) significant negative effect of capital structure on value of the firm with DER regression coefficient (β1) = -0.967 and sig. = 0.002, (5) the firm growth is not a significant positive effect on value of the firm with GTA regression coefficient (β2) = 0.006 and sig. = 0.784, (6) the profitability of a significant positive effect on value of the firm with ROE regression coefficient (β3) = 0.185 and sig. = 0.000, and (7) the dividend policy of a significant positive effect on value of the firm with ROE regression coefficient (β4) = 0.039 and sig. = 0.001. The results of this study also found that the dominant effect of capital structure on profitability than the dividend policy and capital structure also dominant influence on value of the firm than profitability and the dividend policy. Keywords : capital structure, the firm growth, profitability, dividend policy, value of the firm.
| Item Type: | Thesis (S2) |
|---|---|
| Call Number CD: | CDT-555-14-022 |
| Call Number: | TA/55/14/035 |
| NIM/NIDN Creators: | 55511120020 |
| Uncontrolled Keywords: | Struktur modal, Pertumbuhan Perusahaan, Profitabilitas, kebijakan Dividen, Nilai perusahaan. pjk, akuntansi perpajakan |
| Subjects: | 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi |
| Divisions: | Pascasarjana > Magister Akuntansi |
| Depositing User: | Admin Perpus UMB |
| Date Deposited: | 02 Feb 2015 14:39 |
| Last Modified: | 07 Jul 2022 03:26 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/13696 |
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