Determinants of Firm Value: The Role of Capital Structure, Leverage, Growth, Dividend Policy, and Profitability in Property Companies Listed on the IDX
DOI:
https://doi.org/10.22437/jaku.v11i01.49973Kata Kunci:
Struktur Modal, Leverage, Kebijakan Dividen, Profitabilitas, Nilai PerusahaanAbstrak
Penelitian ini bertujuan untuk menganalisis pengaruh struktur modal, leverage, pertumbuhan perusahaan, kebijakan dividen, dan profitabilitas terhadap nilai perusahaan pada sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) periode 2021–2023. Sektor ini dipilih karena perannya yang strategis dalam perekonomian nasional dan pertumbuhannya yang positif di tengah tekanan global. Nilai perusahaan, sebagai indikator kinerja dan daya tarik investor, dipengaruhi oleh kondisi internal keuangan yang mencerminkan keberlanjutan usaha. Dengan menggunakan pendekatan kuantitatif dan data dari 23 perusahaan properti dan real estate yang memenuhi kriteria sampel dari total populasi 92 perusahaan, dianalisis menggunakan regresi linear berganda dengan software IBM SPSS. Hasil penelitian menunjukkan bahwa struktur modal, leverage, kebijakan dividen, dan profitabilitas berpengaruh signifikan terhadap nilai perusahaan, mendukung teori sinyal. Namun, pertumbuhan perusahaan tidak memiliki pengaruh signifikan, berbeda dengan beberapa penelitian sebelumnya. Penelitian ini memberikan bukti empiris mengenai faktor-faktor yang menentukan nilai perusahaan pada sektor properti dan real estate di Indonesia, yang dapat menjadi bahan pertimbangan bagi manajemen, investor, dan peneliti selanjutnya.
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