Journal of Ekonomics, Finance, and Management Studies
Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam

Pengaruh Thin capitalization, Ukuran Perusahaan, dan Kebijakan Dividen Terhadap Nilai Perusahaan

Salma Nurhaliza Putri (Universitas Dian Nuswantoro)
Enny Susilowati Mardjono (Universitas Dian Nuswantoro)
Ngurah Pandji Mertha Agung Durya (Universitas Dian Nuswantoro, Semarang)
Purwantoro (Universitas Dian Nuswantoro, Semarang)



Article Info

Publish Date
02 Jun 2025

Abstract

Firm value reflects investors' assessment of its achievements and performance. This research aims to investigate the impact of factors such as firm size, dividend policy, and thin capitalization on firm value. Using secondary data from 188 food & beverage industries listed on the Indonesia Stock Exchange between 2020 and 2022, this analysis focused on a sample of 72 companies. This analysis uses multiple linear regression analysis methods and classical assumption testing which includes normality test, multicollinearity test, heteroscedasticity test, autocorrelation test, and hypothesis testing consisting of f test, t test, and r test. This study states that firm size, dividend policy, and thin capitalization all have an impact on firm value. Which can be concluded that the regression model developed complies with classical assumptions so that the data can be used. Overall, firm value is strongly influenced by its dividend policy, size, and thin capitalization. Based on the research, suggestions that can be given should include more moderator or intervening variables to support the hypothesis.

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Journal Info

Abbrev

elmal

Publisher

Subject

Religion Economics, Econometrics & Finance

Description

El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam mempublikasi hasil riset dan kajian terkini bidang ekonomi, keuangan, manajemen dan bisnis Islam. Mulai 2011, jurnal ini terbit tiga kali setahun setiap Maret, Juli dan November. Jurnal ini dikelola oleh Pusat Riset dan Kajian Strategis (PRKS) Masyarakat ...