PENGARUH STRUKTUR KEPEMILIKAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

FARHANA, EVA (2015) PENGARUH STRUKTUR KEPEMILIKAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI. S1 thesis, Universitas Negeri Jakarta.

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Abstract

This study aimed to analyze the effect of ownership structure and dividend policy on company value in companies listed on the Indonesia Stock Exchange (BEI) in 2013. This study used secondary data, the data needed to determine the structure of ownership was the percentage of institutional ownership and the data used to determine the dividend policy is a dividend cash and total net income after tax obtained from the prospectus by using the dividend payout ratio formula. As for the value of the company using proxies Tobin's Q. The sample in this study, used purposive sampling method from Isaac’s table. In this study, the sample used is 40 manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2013. Data collection used documentation technique with secondary data and the analytical methods used were correlational analysis by SPSS 20.0. There are 40 companies listed on the Indonesia Stock Exchange (BEI) were analyzed. Data Ownership Structure, Dividend Policy and Corporate Values were taken from the financial statements in 2013. The study also used the classical assumption and hypothesis testing to determine the impact of ownership structure, dividend policy, and the corporate value. The regression result in this study is Y = 1,713 - 1,205X1 + 3,038X2. From the result of the analysis indicate that the structure of institutional ownership has a significant negative effect to the value of the company in which t hitung -1,424 smaller than 2,026. While significant positive effect of dividend policy with the value of the company which t hitung 2,787 higher than 2,026. Simultanly, the impact occurs between institutional ownership structure and dividend policy of the company's value is significant. The ability of institutional ownership structure and dividend policy explains the value of the company amounted to 17,4%. Therefore, only dividend policy can provide a good signal for investors, so it can be used as a basis for consideration of investors in decisions making.

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