The Effect of Capital Structure, Dividend Policy and Cash Holding on Firm Value

Diyah Anandita; Dwi Septiani

doi:10.24176/bmaj.v6i1.9611

The Effect of Capital Structure, Dividend Policy and Cash Holding on Firm Value

Diyah Anandita
Dwi Septiani

Abstract

This study examines the effect of Capital structure, Dividend Policy and Cash Holding on Firm Value in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2017-2021. This type of research is quantitative research and sampling methods using purposive sampling. The population in this study was 66 companies from food and beverage sub-sector companies listed on the Indonesia Stock Exchange. The sample of this study was 17 companies with a total of 85 observations. The study's results partially show that the Capital Structure does not affect the Firm Value, the dividend policy does not affect the Firm Value, and the Cash Holding variable positively and significantly affects the Firm Value. The study's results simultaneously showed that the Capital Structure, Dividend Policy and Cash Holding significantly affected the Firm's Value.

Keywords

capital structure, dividend policy, cash holding, firm value

Full Text:

PDF

References

Abidin, J., & Hidayat, I. (2019). Pengaruh Stabilitas Penjualan dan Struktur Aktiva Terhadap Struktur Modal. Owner, 3(2). https://doi.org/10.33395/owner.v3i2.130

Angela, J. (2020). Analisis Pengaruh Cash Holding, Dividend Payout Ratio, dan Struktur Modal terhadap Nilai Perusahaan pada Perusahaan Sektor Manufaktur di Bursa Efek Indonesia. Jurnal FinAcc, 5(8).

Deviani, H. (2018). Pengaruh Cash Holding, Struktur Modal, Dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Sub Sektor Property Dan Real Estate Di Bursa Efek Indonesia. 3(04), 602–612.

Fikarunia, F., & Ferdiansyah, F. (2022). Pengaruh Financial Distress , Karakteristik Komite Audit , Dan Reputasi Auditor Terhadap Luas Pengungkapan Sukarela The Effect Of Financial Distress , Characteristics Of The Audit Committee , The Auditor ’ s Reputation On The Extensive Of Voluntary Disclo. INVENTORY: JURNAL AKUNTANSI, 6(1), 27– 35. https://doi.org/10.25273/inventory.v6vi1i.12093

Ghozali, I., & Ratmono, D. (2017). Analisis Multivariat dan Ekonometrika dengan Eviews 10. In Semarang: Badan Penerbit Universitas Diponegoro.

Gujarati, D. (2014). Dasar-dasar Ekonometrika. In Dasar-dasar Ekonometrika.

Gunawan, R. (2016). Pengaruh Growth Opportunity, Net Working Capital Dan Cash Flow Terhadap Cash Holding. Fakultas Ekonomi Universitas Negeri Padang, 106(1).

Kadafi, M. A. (2020). Analisis struktur modal , profitabilitas , dan ukuran perusahaan terhadap nilai perusahaan. 12(1), 133–144.

Purnasari, N., Jimmy Rinaldo, L., Jessica, & Harianto, C. (2022). The effect of profitability, dividend payout ratio, capital structure and cash holding on company value in manufacturing companies in the consumption sector on the indonesia stock exchange. 6, 810–823.

Riyadi, F. A., Masripah, & Widyastuti, S. (2021). Pengaruh umur perusahaan, keputusan pendanaan, kebijakan dividen, dan cash holding terhadap nilai perusahaan. JOEL: Journal of Educational and Language Research, 1(1).

Scott, W. R. (2015). Financial Accounting Theory Sevent Edition. United States. In United States: Canada Cataloguing.

Septiani, D. (2020). The Influence of The Inflation Rate and The Interest Rate of Bank Indonesia Certificates on The Composite Stock Price Index With The Us Dollar Exchange Rate As a Moderating Variable on The Indonesia Stock Exchange. EAJ (Economics And Accounting Journal), 3(3). https://doi.org/10.32493/eaj.v3i3.y2020.p212-220

Sitanggang, A. V., Purnomo, L. I., & Agustina, F. (2021). Pengaruh Struktur Kepemilikan, Kebijakan Dividen, Dan Cash Holding Terhadap Nilai Perusahaan. Proaksi, 1(1).

Sugiyono. (2021). Metode Penelitian Pendidikan (Kuantitatif, Kualitatif, Kombinasi, R&D dan Penelitian Tindakan). In Metode Penelitian Pendidikan.

Tijow, A. P., Sabijono, H., &Tirayoh, V. Z. (2018). Pengaruh Struktur Aktiva Dan Profitabilitas Terhadap Struktur Modal Pada Perusahaan Sektor Industri Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia. Going Concern : Jurnal Riset Akuntansi, 13(04). https://doi.org/10.32400/gc.13.03.20375.2018

DOI: https://doi.org/10.24176/bmaj.v6i1.9611