Baka, Gracella Stefani (2024) Pengaruh Struktur Modal, Profitabilitas, dan Kebijakan Dividen terhadap Nilai Perusahaan (Studi pada Perusahaan Farmasi yang Terdaftar di Bursa Efek Indonesia Periode 2018 – 2022). Undergraduate thesis, Fakultas Ekonomi dan Bisnis Universitas Merdeka Malang.

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Abstract

This research aims to analyze and provide empirical evidence of the influence of capital structure, profitability and dividend policy on company value in pharmaceutical companies listed on the Indonesian Stock Exchange for the 2018-2022 period. This analysis uses the independent variables capital structure (DER), profitability (ROE), and dividend policy (DPR) as well as the dependent variable which is proxied by Price to Book Value (PBV). This research uses secondary data originating from the financial reports of pharmaceutical companies listed on the Indonesia Stock Exchange (BEI) in 2018-2022. The sample selection used a purposive sampling method and the number of samples used was 6 pharmaceutical companies. The statistical method uses Multiple Linear Regression analysis with hypothesis testing, the t statistical test and the F test. The results of this research show that the capital structure variable (DER) has an effect on company value. This shows that higher debt will increase debt interest, thereby affecting share prices and increasing company value. Profitability as measured by ROE has no effect on company value, meaning that this research does not provide empirical evidence that if profitability increases, company value will also increase, in other words the results of this research contradict existing theory. Dividend policy (DPR) has no effect on company value. This means that the level of dividends distributed to shareholders is not related to the level of company value.

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