PENGARUH KEBIJAKAN PERUSAHAAN DAN KINERJA PERUSAHAAN TERHADAP NILAI PERUSAHAAN (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2011-2015)
Abstract
This study aimed to examine the effect of the company's policy and its performance of the company againts the company’s value (Study at Manufacturing Companies Listed in Indonesia Stock Exchange Period 2011-2015). The population in this research is manufacturing companies listed in Indonesia Stock Exchange from 2011 until 2015. The sampling method used in this research is purposive sampling. The data analysis using classical assumption test includes multicollinearity test, autocorrelation test, heteroscedasticity test, and test for normality. Hypothesis testing using multiple regression analysis. The analysis tool using SPSS 22 software. In the study found that: 1) The dividend policy has a positive and significant impact on company’s value in which the dividend policy variable coefficient value of 0.074 and has a significant value of 0.001; 2) debt policy has a positive and significant impact on the value of companies in which the value of coefficient of 4.234 and debt policy has a significant value of 0.000; 3) investment policy has a positive and significant impact on the value of companies in which the investment policy variable coefficient value of 2.584 and has a significant value of 0.000; 4) The financial performance has a negative effect and no significant effect on the value of companies in which the value of coefficient -7.424 and has significant value of 0.067.
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