Khalisma, Mustofa Nur (2025) PENGARUH SUSTAINABILITY, RISIKO BISNIS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DIMEDIASI OLEH PROFITABILITAS (Studi Pada Perusahaan Batubara Di Bursa Efek Indonesia). S2 thesis, Universitas Mercu Buana-Menteng.
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Abstract
Penelitian ini menganalisis pengaruh sustainability, risiko bisnis, dan kebijakan dividen terhadap nilai perusahaan dengan profitabilitas sebagai variabel mediasi. Populasi penelitian ini adalah 23 perusahaan subindustri produsen batubara yang terdaftar di Bursa Efek Indonesia (BEI) periode 2019-2023, sampel penelitian ini terdiri dari 12 perusahaan batubara yang dipilih berdasarkan kriteria tertentu. Metode penelitian menggunakan analisis regresi data panel untuk menguji hubungan antar variabel serta uji sobel untuk menguji peran mediasi. Hasil penelitian menunjukkan bahwa sustainability tidak berpengaruh langsung terhadap nilai perusahaan, risiko bisnis berpengaruh positif terhadap nilai perusahaan, kebijakan dividen tidak berpengaruh langsung terhadap nilai perusahaan, dan profitabilitas berpengaruh positif terhadap nilai perusahaan. Selain itu, sustainability berpengaruh positif terhadap profitabilitas, risiko bisnis tidak berpengaruh terhadap profitabilitas, dan kebijakan dividen berpengaruh negatif terhadap profitabilitas. Lebih lanjut, profitabilitas terbukti dapat memediasi pengaruh sustainability dan kebijakan dividen terhadap nilai perusahaan, namun profitabilitas tidak dapat memediasi pengaruh risiko bisnis terhadap nilai perusahaan. This study analyzes the impact of sustainability, business risk, and dividend policy on firm value with profitability as a mediating variable. The population of this study consists of 23 coal producer sub industry companies listed on the Indonesia Stock Exchange (IDX) for the period 2019-2023. The sample of this study consists of 12 coal companies selected based on certain criteria. The research method employs panel data regression analysis to test the relationships among variables and the Sobel test to examine the mediating role. The results show that sustainability does not have a direct effect on firm value, business risk has a positive impact on firm value, dividend policy does not have a direct effect on firm value, and profitability positively affects firm value. Additionally, sustainability has a positive impact on profitability, business risk does not affect profitability, and dividend policy has a negative impact on profitability. Furthermore, profitability is found to mediate the effect of sustainability and dividend policy on firm value, while profitability does not mediate the effect of business risk on firm value.
| Item Type: | Thesis (S2) |
|---|---|
| NIM/NIDN Creators: | 55123110059 |
| Uncontrolled Keywords: | Sustainability, Risiko Bisnis, Kebijakan Dividen, Profitabilitas, Nilai Perusahaan. Sustainability, Business Risk, Dividend Policy, Profitability, Firm Value. |
| Subjects: | 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | NAIMAH NUR ISLAMIDIYANAH |
| Date Deposited: | 16 Sep 2025 02:48 |
| Last Modified: | 16 Sep 2025 02:48 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/97913 |
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