PENGARUH LIKUIDITAS, PROFITABILITAS, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MAKANAN DAN MINUMAN DI BEI PERIODE 2021-2024
DOI:
https://doi.org/10.47200/jcob.v10i1.3739Keywords:
likuiditas, profitabilitas, leverage, kebijakan dividen, nilai perusahaan.Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh likuiditas, profitabilitas, dan leverage terhadap nilai perusahaan serta menguji peran kebijakan dividen sebagai variabel moderasi dalam hubungan tersebut pada perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode 2021–2024. Metode yang digunakan adalah teknik dokumentasi untuk mengumpulkan data sekunder berupa laporan keuangan perusahaan. Data dianalisis menggunakan regresi data panel dengan perangkat lunak Stata. Hasil penelitian menunjukkan bahwa likuiditas, profitabilitas, dan leverage tidak berpengaruh signifikan terhadap nilai perusahaan. Sementara itu, kebijakan dividen ditemukan mampu memoderasi pengaruh profitabilitas terhadap nilai perusahaan, namun tidak memoderasi pengaruh likuiditas dan leverage. Penelitian ini memberikan bukti empiris yang berguna bagi pengembangan teori manajemen keuangan dan pengambilan keputusan investasi di sektor makanan dan minuman.
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