JURNAL ECONOMINA
Vol. 5 No. 9 (2026): JURNAL ECONOMINA, September 2026

The Influence of Capital Structure, Profitability, Tax Planning, and Dividend Policy on the Value of Basic Material Manufacturing Companies in the 2021-2024 Period

Ali Slamat (Universitas Sembilanbelas November Kolaka, Indonesia)
Fitri Kumalasari (Universitas Sembilanbelas November Kolaka, Indonesia)
Agus Zul Bay (Universitas Sembilanbelas November Kolaka, Indonesia)



Article Info

Publish Date
30 Sep 2026

Abstract

This study aims to determine the "Effect of Capital Structure, Profitability, Tax Planning, and Dividend Policy on Company Value." Where the independent variables in this study consist of Capital Structure, Profitability, Tax Planning, and Dividend Policy proxied by Debt to Equity Ratio (DER), Return on Equity (ROE), Effective Tax Rate (ETR), and Dividend Payout Ratio (DPR) and the dependent variable is Company Value proxied by Price to Book Value (PBV). This study uses a quantitative approach with a sampling technique, namely purposive sampling, which resulted in 15 companies from a population of 113 over four years, resulting in 60 research samples. The data analysis method used is panel data regression analysis processed using E-views 13. The test results show that simultaneously DER, ROE, ETR, and DPR have a significant effect on PBV. Partially, DER, ROE, ETR, and DPR do not have a significant effect on PBV of basic material manufacturing for the period 2021-2024.

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Journal Info

Abbrev

economina

Publisher

Subject

Economics, Econometrics & Finance

Description

JURNAL ECONOMINA (JE) is a peer-reviewed journal which publishes original research papers. ECONOMINA has been published since 2022. It is currently published every month a year with e-ISSN: 2963-1181. The Digital Object Identifier (DOI) is assigned to each published article and the journal is ...