ABSTRACT

Anton Yuda Sumanto (2024), The Effect of Profitability and Leverage on Firm Value with Dividend Policy as an Intervening Variable in the Consumer Non-Cyclicals Sector listed on the IDX for the 2021-2022 Period.

Advisor: Sufi Jikrillah

This study was conducted to determine the effect of profitability and leverage on firm value through dividend policy as an intervening variable in consumer non-cyclicals sector companies listed on the IDX for the 2021-2022 period.

The population used in this study are consumer non-cyclicals sector companies listed on the IDX for the 2021-2022 period, totaling 113 companies. The research sample was selected using purposive sampling method and obtained 40 companies that met certain criteria. This study uses multiple linear regression data analysis techniques and path analysis using SPSS version 25.

The results showed: (1) based on the results of hypothesis testing, it can be concluded that profitability affects firm value in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period. (2) based on the results of hypothesis testing, it can be concluded that leverage no affects the value of companies in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period. (3) based on the results of hypothesis testing, it can be concluded that profitability has affects on dividend policy in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period. (4) based on the results of hypothesis testing, it can be concluded that leverage has affects on dividend policy in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period. (5) based on the results of hypothesis testing, it can be concluded that dividend policy affects firm value in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period. (6) based on the results of hypothesis testing, it can be concluded that dividend policy is unable to mediate the relationship between profitability and firm value in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period. (7) based on the results of hypothesis testing, it can be concluded that dividend policy is unable to mediate the relationship between leverage and firm value in the consumer non-cyclicals sector listed on the IDX for the 2021-2022 period.

Keywords: Profitability, Leverage, Firm Value, and Dividend Policy

ABSTRAKSI

Anton Yuda Sumanto (2024), Pengaruh Profitabilitas dan Leverage terhadap Nilai Perusahaan dengan Kebijakan Dividen sebagai Variabel Intervening Pada Sektor Consumer Non-Cyclicals yang terdaftar Di BEI Periode 2021-2022. Pembimbing : Sufi Jikrillah

Penelitian ini dilakukan untuk untuk mengetahui pengaruh profitabilitas dan leverage terhadap nilai perusahaan melalui kebijakan dividen sebagai variabel intervening pada perusahaan sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022

Populasi yang digunakan dalam penelitian ini adalah perusahaan sektor consumer non-cyclicals yang terdaftar di BEI Periode 2021-2022 berjumlah 113 perusahaan. Sampel penelitian dipilih melalui seleksi menggunakan metode purposive sampling dan diperoleh 40 perusahaan yang memenuhi kriteria tertentu. Penelitian ini menggunakan teknik analisis data regresi linear berganda dan analisis jalur (path analysis) dengan menggunakan SPSS versi 25.

Hasil penelitian menunjukkan: (1) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa profitabilitas berpengaruh terhadap nilai perusahaan pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022. (2) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa leverage tidak berpengaruh terhadap nilai perusahaan pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022. (3) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa profitabilitas berpengaruh terhadap kebijakan dividen pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022. (4) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa leverage berpengaruh terhadap kebijakan dividen pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022. (5) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa kebijakan dividen berpengaruh terhadap nilai perusahaan pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022. (6) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa kebijakan dividen tidak mampu memediasi hubungan antara profitabilitas dan nilai perusahaan pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022. (7) berdasarkan hasil pengujian hipotesis dapat disimpulkan bahwa kebijakan dividen tidak mampu memediasi hubungan antara leverage dan nilai perusahaan pada sektor consumer non-cyclicals yang terdaftar di BEI periode 2021-2022.

Kata Kunci : Profitabilitas, Leverage, Nilai Perusahaan, dan Kebijakan Dividen