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All Journal ProBisnis : Jurnal Manajemen
Asnahwati
Program Studi Manajemen, Fakultas Ekonomi dan Bisnis Universitas Potensi Utama Medan
Humanities Computer Science & IT Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences

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Pengaruh Investment Opportunity Set, Dividend Payout Ratio, dan Sales Growth Terhadap firm Value Pada Sub Sektor Makanan dan Minuman Yang Terdaftar di Bei Tahun 2020-2024 Fanny Febriani; Asnahwati
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): December: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study aims to analyze the influence of Investment Opportunity Set (IOS), Dividend Payout Ratio, and Sales Growth on Firm Value for companies in the food and beverage subsector listed on the Indonesia Stock Exchange (IDX) during the 2020-2024 period. The research employs a quantitative approach using multiple linear regression. The research sample was selected using a purposive sampling method, and the data used were the companies' annual financial reports. The hypothesis testing results show that, individually, the three independent variables have no significant effect on Firm Value. The partial test (t- test) proved that IOS has no significant influence on firm value. Similarly, the Dividend Payout Ratio and Sales Growth were also not found to have a significant effect. Furthermore, the simultaneous test (F-test) confirmed that, collectively, these three variables also do not have a significant influence on Firm Value. The low Adjusted R-squared value indicates that only a small portion of the variation in firm value can be explained by this model, while the remaining 92.1% is explained by other variables outside the model. This study's conclusion rejects the initial hypotheses and suggests that other factors play a more dominant role in determining firm value within this subsector.
Pengaruh Kualitas Laba, Kebijakan Dividen, dan Cash Holdings Terhadap Kinerja Keuangan Pada Sektor Energi Yang Terdaftar di Bei Tahun 2020-2024 Diana Safira; Asnahwati
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): December: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study analyzes the influence of Profit Quality, Dividend Policy, and Cash Holdings on Financial Performance of energy sector companies. Using a quantitative approach with regression analysis, this research aims to test for partial and simultaneous relationships. The results of the partial tests show significant findings. Profit Quality has a negative and significant effect on Financial Performance (t-statistic = -93.373; sig = 0.000), indicating that lower profit quality can harm performance. Similarly, Dividend Policy has a negative and significant effect (t-statistic = -43.320; sig = 0.000), implying that higher dividend payouts can reduce funds for investment and negatively impact performance. In contrast, Cash Holdings have a positive and significant effect (t-statistic = 94.891; sig = 0.000), demonstrating that higher cash reserves can improve financial performance. Simultaneously, the three variables combined have a significant influence on Financial Performance (sig = 0.000). The research model is considered a good fit, with very high predictive power. This conclusion affirms that Profit Quality, Dividend Policy, and Cash Holdings are crucial factors that collectively influence financial performance in the energy sector.
Co-Authors Diana Safira Fanny Febriani