Berta Agus Petra
Fakultas Ekonomi dan Bisnis, Universitas Putra Indonesia “YPTK” Padang

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Pengaruh Kebijakan Dividen Dan Struktur Modal Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening Pada Perusahaan Sub Sektor Makanan Dan Minuman Terdaftar Di Bursa Efek Indonesia Tahun 2020-2024 Fadila Rahmadani Safitri; Berta Agus Petra; Nila Pratiwi
Jurnal Ekonomi dan Bisnis Digital Vol. 3 No. 3 (2026): Januari - Maret
Publisher : CV. ITTC INDONESIA

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Abstract

This study aims to determine the effect of dividend policy and capital structure on firm value, with profitability as an intervening variable, in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020-2024 period. The population in this study was all 42 food and beverage sub-sector companies listed on the IDX during the study period. The sampling technique used a purposive sampling method to obtain a sample of 22 companies with an observation period of five years. The data analysis method used was multiple linear regression analysis and path analysis with the help of the SPSS 26 program. Based on the results of hypothesis testing, the results showed that capital structure had a significant effect on profitability, while dividend policy did not have a significant effect on profitability. Dividend policy had a significant effect on firm value, while capital structure did not have a significant effect on firm value. Profitability had a significant effect on firm value. The path analysis showed that dividend policy did not have a significant effect on firm value through profitability, and capital structure also did not have a significant effect on firm value through profitability in food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the 2020-2024 period.
Pengaruh Likuiditas Dan Struktur Modal Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderating Pada Perusahaan Sektor Consumer Non-Cyclicals Yang Terdaftar Di Bei Tahun 2020-2024 Ayu Anggraini; Berta Agus Petra; Nila Pratiwi
Journal of Business Economics and Management | E-ISSN : 3063-8968 Vol. 2 No. 3 (2026): Januari - Maret
Publisher : GLOBAL SCIENTS PUBLISHER

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Abstract

This study aims to determine the relationship between the influence of liquidity and capital structure on firm value with dividend policy as a moderating variable. The population used in this study were 131 Consumer Non-Cyclicals sector companies listed on the Indonesia Stock Exchange (IDX) in 2020-2024 obtained from www.idx.co.id. The sampling technique used was purposive sampling and obtained 27 Consumer Non-Cyclicals sector companies as samples. The data analysis methods used in this study were descriptive statistical tests, classical assumption tests, panel data regression analysis and hypothesis testing using eviews 12. The results of the study indicate that a) liquidity partially has no significant effect on firm value b) capital structure partially has a significant positive effect on firm value c) dividend policy is unable to moderate the positive and significant effect of liquidity on firm value d) dividend policy is able to moderate the positive and significant effect of capital structure on firm value.