Peran Devidend Policy Pada Solvensi dan Kinerja Keungan Terhadap Nilai Perusahaan

Marista Oktaviani, Tyasha Ayu Melynda Sari, Adhar Putra Setiawan

Abstract


This research is a descriptive research with a quantitative approach. The sample is a consumer goods industrial company. The data collection method used purposive sampling. The data analysis technique used is SEM model analysis with SmartPls analysis tool. The results showed that the current ratio had a significant positive effect on firm value and earnings per share had no effect on firm value. Dividend policy in this study is used as a moderating variable. The results of the dividend policy moderate the relationship between the current ratio and earnings per share on firm value.


Keywords


current ratio, earning per share, dividend policy

Full Text:

PDF

References


Adiputra, I. G., & Hermawan, A. (2020). The effect of corporate social responsibility, firm size, dividend policy and liquidity on firm value: Evidence from manufacturing companies in Indonesia. International Journal of Innovation, Creativity and Change, 11(6), 325–338.

Ahmed, I. (2018). Impact Of Dividend Per Share and Earnings Per Share On Stock Prices: A Case Study From Pakistan (Textile Sector). IJSSHE-International Journal of Social Sciences, Humanities and Education, 2(2), 1–10.

Aldi, M. F., Erlina, E., & Amalia, K. (2020). Pengaruh Ukuran Perusahaan, Leverage, Profitabilitas Dan Likuiditas Terhadap NILAI Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi Pada Perusahaan Industri Barang Konsumsi Yang Terdaftar Di BEI Periode 2007-2018. Jurnal Sains Sosio Humaniora, 4(1), 264–276.

Andriani, P. R., & Rudianto, D. (2019). Pengaruh Tingkat Likuiditas, Profitabilitas dan Leverage Terhadap Nilai Perusahaan pada Subsektor Makanan dan Minuman yang Tercatat di BEI (BEI) Periode 2010-2017. Journal of Entrepreneurship, Management and Industry (JEMI), 2(1), 48–60.

Anzlina, C. W., & Rustam. (2013). Pengaruh Tingkat Likuiditas, Solvabilitas, Aktivitas, dan Profitabilitas Terhadap Nilai Perusahaan Real Estate dan Property di BEI Tahun 2006-2008. Jurnal Ekonom, 16(2), 67–75.

Arsal, M. (2021). Impact of earnings per share and dividend per share on firm value. ATESTASI: Jurnal Ilmiah Akuntansi, 4(1), 11–18.

Artati, D. W. I. (2020). Pengaruh Return on Assets, Size dan Current Ratio Terhadap Nilai Perusahaan Melalui Kebijakan Deviden. Jurnal Bisnis, Manajemen, dan Akuntansi, 7(1), 111–131.

Astuti, N. K. B., & Yadnya, I. P. (2019). Pengaruh Profitabilitas, Likuiditas, Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Melalui Kebijakan Dividen. E-Jurnal Manajemen Universitas Udayana, 8(5), 3275.

Brigham, F. E., & Houston. (2011). Dasar-dasar Manajemen Keuangan Terjemahan (10 ed.). Selemba Empat.

Budiandriani, & Mahfudnurnajamuddin. (2014). The Influence of Intellectual Capital Components to Financial Performance and Value of the Firm Registered in Indonesia Stock Exchange. Research in Applied Economics, 6(1), 216–224.

CNBCIndonesia. (2019). Anjlok Hampir 20%, Indeks Sektor Konsumer Belum Juga Bangkit. https://www.cnbcindonesia.com/market/20191115140836-17-115584/anjlok-hampir-20-indeks-sektor-konsumer-belum-juga-bangkit

Endri. (2019). Determinant of firm’s value: Evidence of manufacturing sectors listed in Indonesia Shariah Stock Index. International Journal of Recent Technology and Engineering (IJRTE), 8(3), 3995–3999.

Endri, E., & Fathony, M. (2020). Determinants of firm’s value: Evidence from financial industry. Management Science Letters, 10(1), 111–120.

Fachruddin SM, F. S., Safitri, E., & Cholid, I. (2016). Pengaruh EPS, DPS, Dan ROE Terhadap Nilai Perusahaan Property and Real Estate Yang Terdaftar Di Bursa Efek Indonesia.

Gladys, M., & Omagwa, J. (2017). Asset structure and financial performance: A case of the Nairobi securities exchange, Kenya. Research Journal of Finance and Accounting, 8(4), 192–200.

Hasania, Z. (2016). Pengaruh current ratio, ukuran perusahaan struktur modal, dan roe terhadap nilai perusahaan farmasi yang terdaftar di bursa efek indonesia periode 2011–2014. Jurnal Berkala Ilmiah Efisiensi, 16(3).

Herninta, T., & Rahayu, R. A. (2021). Dampak Pandemi Covid-19 Terhadap Harga Saham Perusahaan Sektor Industri Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia. ESENSI: Jurnal Manajemen Bisnis, 24(1).

Hunjra, A. I., Ijaz, M., Chani, D., Irfan, M., & Mustafa, U. (2014). Impact of Dividend Policy, Earning per Share, Return on Equity, Profit after Tax on Stock Prices. International Journal of Economics and Empirical Research, 2(3), 109–115.

Husna, A., & Satria, I. (2019). Effects of return on asset, debt to asset ratio, current ratio, firm size, and dividend payout ratio on firm value. International Journal of Economics and Financial Issues, 9(5), 50–54.

Islam, M. R., Khan, T. R., Choudhury, T. T., & Adnan, A. M. (2014). How Earning Per Share (EPS) Affects on Share Price and Firm Value. European Journal of Business and Management Online, 6(17), 2222–2839.

Kamal, E. O., & Widjaja, I. (2019). Pengaruh Profitabilitas, Board Gender, Dan Likuiditas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi (Studi Empiris Pada Perusahaan Manufaktur Yang Bergerak Dibidang Consumer Goods Yang Terdaftar Di Bei Periode 2011-2016). Jurnal Manajemen Bisnis dan Kewirausahaan, 3(3).

Kementerian Investasi. (2020). Pengaruh Covid-19 terhadap Investasi di Indonesia. https://www.investindonesia.go.id/id/artikel-investasi/detail/pengaruh-covid-19-terhadap-investasi-di-indonesia

Mardiyati, U., Ahmad, G. N., & Putri, R. (2012). Pengaruh kebijakan dividen, kebijakan hutang dan profitabilitas terhadap nilai perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2005-2010. JRMSI-Jurnal Riset Manajemen Sains Indonesia, 3(1), 1–17.

Nagendra, S., Kumar, S., & Venoor, A. (2018). Analysis of Impact of Earning Per Share, Dividend Per Share and Price Earnings Ratio On Stock Performance. International Journal of Research in Economics and Social Sciences (Ijress), 8(3), 187–241.

Nainggolan, I. P. M., & Pratiwi, M. W. (2017). Analisis Faktor-Faktor Yang Mempengaruhi Kinerja Keuangan Perusahaan. , 32(1). Media Ekonomi dan Manajemen, 32(1).

Nawangwulan, A., Ilat, V., & Warongan, J. (2018). Pengaruh Total Revenue dan Laba Bersih Terhadap Harga Saham (Studi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia). Jurnal Riset Akuntansi Going Concern, 13(3), 174–183.

Neisya, Vaeza, D., & Dini, W. H. (2015). Effect of Company Size, Profitability, Leverage and Dividend Policy on Company Values in Manufacturing Sector Companies Listed on the Indonesia Stock Exchange Period 2010-2013. Economics and Business Faculty. Telkom University-Proceeding of Management, 2(3), 3310.

Pioh, H. T., Tommy, P., & Sepang, J. (2018). Pengaruh debt to equity ratio, earning per share dan return on asset terhadap nilai perusahaan sub sector food and beverages di bursa efek indonesia. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi, 6(4).

Putra, T. P., Chabachib, M., Haryanto, M., & Pangestuti, I. R. D. (2007). Pengaruh Kinerja Keuangan dan Beta Saham Terhadap Price to Book Value (Studi Kasus pada Perusahaan Real Estate dan Property yang Listed di Bursa Efek Indonesia Periode Tahun 2004-2006). Jurnal Studi Manajemen dan Organisasi, 4(2), 81–90.

Putri, M. O. D., & Wiksuana, I. G. B. (2021). The Effect of Liquidity and Profitability on Firm Value Mediated by Dividend Policy. American Journal of Humanities and Social Sciences Research (AJHSSR), 5(1), 204–212.

Samrotun, Y. C. S. (2015). Kebijakan Dividen Dan Faktor–Faktor Yang Mempengaruhinya. Jurnal Paradigma Universitas Islam Batik Surakarta, 13(1), 116095.

Sh, E., MH, Y., & Hadi, A. R. A. (2013). The dividend payout policy–a comparison on Malaysian Islamic and conventional financial institutions. Journal of WEI Business and Economics, 2(2), 12–20.

Shehzad, K., & Ismail, A. (2014). Value relevance of Accounting Information and its Impact on Stock Prices: Case Study of Listed Banks at Karachi Stock Exchange. Journal of Economic Info, 1(3), 6–9.

Spence, J. T., Helmreich, R., & Stapp, J. (1973). A short version of the Attitudes toward Women Scale (AWS). Bulletin of the Psychonomic society, 2(4), 219–220.

Sugianto, S., Oemar, F., Hakim, L., & Endri, E. (2020). Determinants of firm value in the banking sector: Random effects model. International Journal of Innovation, Creativity and Change, 12(8), 208–218.

Tarigan, E. C., Jubi, Inrawan, A., & Supritiyani. (2018). Pengaruh Likuiditas Dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderating Pada Perusahaan Sub Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia. Financial: Jurnal Akuntansi, 4(2), 12–19.

Wijaya, I. B., & Purnawati, N. K. (2014). Pengaruh Likuiditas dan Kepemilikan Institusional Terhadap Nilai Perusahaan Dimoderasi oleh Kebijakan Dividen. E-journal Manajemen Universitas Udayana, 3(12), 3768–3780.




DOI: http://dx.doi.org/10.30742/equilibrium.v19i1.2764

Refbacks

  • There are currently no refbacks.


Copyright (c) 2023 Equilibrium: Jurnal Ekonomi-Manajemen-Akuntansi

Indexed By:

      
      

  Creative Commons License

Equilibrium by http://journal.uwks.ac.id/index.php/equilibrium is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

 

 

 

 

 

 

Office: EQUILIBRIUM
Faculty of Economics and Business Universitas Wijaya Kusuma Surabaya
Dukuh Kupang XXV No. 54 Surabaya, Indonesia 60225 
Phone: +62315613231   
email: equilibrium@uwks.ac.id

p-ISSN 1693-1378 | e-ISSN 2598-9952

slot gacor slot gacor hari ini slot gacor 2025 demo slot pg slot gacor slot gacor