DAMPAK KEBIJAKAN DIVIDEN, HUTANG, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN RITEL YANG TERDAFTAR DI BEI

Abstract

This study aims to examine the impact of dividend policy, debt, and profitability levels on the value of retail companies listed on the Indonesia Stock Exchange (IDX) during the period 2021 to 2024. Using a quantitative approach, with a causal associative design. Sample selection was carried out by purposive sampling, and analyzed using multiple linear regression, with the help of SPSS 25 software. The independent variables analyzed include, Dividend Payout Ratio (DPR), Debt to Equity Ratio (DER), and Return on Assets (ROA), while company value is measured using Price to Book Value (PBV). The results of the analysis show that debt policy (DER) has a positive and significant impact on PBV. On the other hand, dividend policy (DPR) and profitability (ROA) do not show a significant effect. This study implies that, in the context of the retail industry, the financing structure through debt contributes more to increasing company value, compared to profit distribution or profitability levels. From this study, it is expected to be able to contribute to more strategic financial decision making in the retail sector.