Article
Pengaruh Profitabilitas, Kebijakan Deviden, Struktur Modal Dan Ukuran Perusahaan Terhadap Nilai Perusahaan
Jurnal Manajemen, Bisnis dan Organisasi (JUMBO), Vol. 8 No. 2 (2024), hlm. 248–258
Abstrak
The aim of this research is to determine and analyze the influence of profitability on the value of companies in the Hotel, Restaurant and Tourism sub-sector listed on the Indonesia Stock Exchange in 2018-2022. The sample consisted of 6 companies. The analysis tool uses Eviews. The results of this research show that profitability has a positive and significant effect on company value. The company's profitability is high, indicating that the company is working efficiently and effectively in managing the company's assets in obtaining profits each period. The dividend policy is negative and insignificant to company value. These results indicate that the level of dividends distributed to shareholders is not related to the level of company value. Shareholders only want to take advantage in a short period of time by making capital gains. Investors consider that small dividend income today is no more profitable than capital gains in the future. Capital structure is positive and not significant to company value. A capital structure that is too high can result in a decrease in company value, because the capital structure is funding that uses long-term debt. However, if the company continues to provide funding using debt, it will result in the company being unable to pay the debt and interest. So that using debt that is too high and not optimal will have a negative impact on the company, resulting in less than optimal company value. Company size has a negative and significant effect on company value. The larger the size of the company, the more investors tend to pay attention to the company, which will increase the value of the company in the eyes of investors. This is because large companies tend to have more stable conditions..