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PENGARUH STRUKTUR MODAL (DER) DAN KEBIJAKAN DIVIDEN (DPR)TERHADAP NILAI PERUSAHAAN (PER) PADA PT UNILEVER INDONESIA TBK PERIODE 2013-2022 Wildan Fadhl; Adji Widodo
Jurnal Sinergi Manajemen Vol 2 No 1 (2025): Jurnal SINERGI Manajemen
Publisher : YBAMB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70285/a4aaxg54

Abstract

Penelitian ini bertujuan untuk mengetahui apakah terdapat pengaruh Struktur Modal (Debt to Equity Ratio) dan Kebijakan Dividen (Dividen Payout Ratio) Terhadap Nilai Perusahaan (Price Earning Ratio) pada PT Unilever Indonesia Tbk Sektor Industri Barang Konsumsi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2013-2022. Metode yang digunakan dalam penelitian ini adalah metode deskriptif dengan pendekatan kuantitatif. data yang digunakan adalah data sekunder berupa laporan keuangan tahunan pada PT Unilever Indonesia Tbk periode 2013-2022 yang terdaftar di Bursa Efek Indonesia. Data tersebut di uji dengan menggunakan program aplikasi Statistical Package for the Social Sciens (SPSS) versi 26.0. Analisis data yang digunakan adalah uji statistik deskriptif, uji asumsi klasik, analisis regresi, koefisien determinasi, uji t, dan uji F. Berdasarkan hasil pengujian secara parsial bahwa Struktur modal (Debt to Equity Ratio) tidak berpengaruh signifikan terhadap Nilai Perusahaan (Price Earning Ratio) dimana t hitung sebesar -0,962 < t tabel 2,3646 dengan nilai signifikansi 0,368 > 0,05 dan secara parsial Kebijakan Dividen (Dividen payout Ratio) tidak berpengaruh signifikan terhadap Nilai Perusahaan (Price Earning Ratio) dimana t hitung sebesar 0,435 < t tabel 2,3646 dengan nilai signifikansi 0,677 > 0,05. Sedangkan secara simultan Struktur Modal (Debt to Equity Ratio) dan Kebijakan Dividen (Dividen Payout Ratio) tidak berpengaru signifikan terhadap Nilai Perusahaan (Price Earning Ratio) dimana F hitung sebesar 0,485 < F tabel 4,74 dengan nilai signifikansi sebesar 0,635 > 0,05. Kemudian diperoleh nilai R Square sebesar 0,122 variabel Struktur Modal (Debt to Equity Ratio), Kebijakan Dividen (Dividen Payout Ratio) mampu menjelaskan variabel Nilai Perusahaan (Price Earning Ratio) sebesar 12,2%, sedangkan sisanya 87,8% dipengaruhi oleh faktor lain yang tidak diteli dalam penelitian.   Kata Kunci: Struktur Modal, Kebijakan Dividen, dan Nilai Perusahaan.
PENGARUH FAKTOR-FAKTOR INVESTASI TERHADAP HARGA SAHAM PT ASURANSI MULTI ARTHA GUNA TBK ( PERIODE 2015-2024) Siti Nabila Siti Nabila; Adji Widodo
JURNAL RUMPUN MANAJEMEN DAN EKONOMI Vol. 3 No. 3 (2026): Mei
Publisher : CV. KAMPUS AKADEMIK PUBLISHING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jrme.v3i3.10616

Abstract

Abstract. This study aims to analyze the effect of Return on Assets (ROA) and Debt to Equity Ratio (DER) on stock prices of companies observed during the period 2015–2024. This research is motivated by the importance of financial performance in reflecting a company’s ability to generate profits and manage its capital structure, which are commonly used by investors in making investment decisions. However, stock price movements do not always align with changes in financial ratios, making further empirical investigation necessary. This study employs a quantitative approach using an associative method to examine the relationship between independent variables and the dependent variable. The data used are secondary data obtained from companies’ annual financial statements over a ten-year period. Data analysis was conducted using multiple linear regression with the assistance of SPSS version 26, along with classical assumption tests. The results show that, partially, Return on Assets (ROA) has no significant effect on stock prices, with a t-value of 1.377 and a significance value of 0.211 greater than 0.05. Debt to Equity Ratio (DER) also has no significant effect on stock prices, with a t-value of -0.806 and a significance value of 0.447 greater than 0.05. Simultaneously, ROA and DER do not significantly affect stock prices, indicated by an F-value of 1.853 and a significance value of 0.226 greater than 0.05. The correlation coefficient (R) of0.588 indicates a moderately strong positive relationship. These findings suggest that profitability and capital structure are not the main determinants of stock price fluctuations during the study period. Keywords: Return on Assets, Debt to Equity Ratio, Stock Price