PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN DAN SIZE TERHADAP NILAI PERUSAHAAN(Studi Pada Perusahaan Properti Di Bursa Efek Indonesia)

Zainal Abidin, Meina Wulansari Yusniar, Muhammad Ziyad

Abstract


Company has a normative goal to maximize the value of the companies, which aims to maximize shareholder wealth. This study aims to analyze the factors that value effect of the company. The variables used in this study are the Debt to Equity Ratio (DER), Dividend Yield (DYD) and Size.

The research was conducted on property companies listed on the Stock Exchange, period from 2009 to 2011. The dependent variable in this study is measured by the value of the company’s, Price to Book Value (PBV). The independent variable in this study is capital structure is measured by Debt to Equity Ratio (DER), dividend policy as measured by Dividend Yield (DYD) and Size. Sampling was conducted using purposive sampling method which produces 17 companies as the  study  of  a  population  sample  of  52  companies.  The  method  used  in  this research is the analysis of linier regression.

This  result  showed  by  together  DER,  DYD  and  Size  has  effect  on  PBV.  The partially  DER  indicated  positive  and  significant  effect  of  PBV.  Size  had  no significant positive effect on PBV. DYD has significant effects and negatively to PBV.

Keyword : Debt  to  Equity  Ratio  (DER),  Divident  Yield  (DYD),  Size  and  Proce  to  Book Value (PBV)


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DOI: http://dx.doi.org/10.20527/jwm.v3i1.15

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Jurnal Wawasan Manajemen by Magister Manajemen Fakultas Ekonomi dan Bisnis Universitas Lambung Mangkurat is licensed under a Creative Commons Attribution 4.0 International License. Based on a work at jwm.ulm.ac.id.