Pengaruh Pengaruh Leverage, Profitability, dan Dividend Policy terhadap Firm Value pada Perusahaan Subsektor Makanan dan Minuman yang Tercatat di BEI Periode 2021–2025

Aliansyah Murphy Louise Mahendra; Ade Sri Mulyani

doi:10.55606/jupsim.v5i3.8128

Authors

Aliansyah Murphy Louise Mahendra Universitas Bina Sarana Informatika
Ade Sri Mulyani Universitas Bina Sarana Informatika

DOI:

https://doi.org/10.55606/jupsim.v5i3.8128

Keywords:

Dividend Policy, Financial Performance, Firm Value, Leverage, Profitability

Abstract

The slowdown in the post-pandemic GDP growth of the food and beverage industry indicates that aggregate sector stability does not fully guarantee an increase in firm value. This condition directly suppresses market expectations and triggers stock price fluctuations, ultimately leading to a decline in firm value. Therefore, this study aims to examine and analyze the effect of leverage, profitability, and dividend policy on firm value in food and beverage sub-sector companies listed on IDX in 2021-2025. Utilizing a quantitative approach, secondary data were collected from corporate annual reports. Through a purposive sampling technique from a total population of 102 companies, 24 companies were selected as observation samples. Data analysis was conducted using the Multiple Linear Regression method. The partial research results show that leverage (DER) has a negative and insignificant effect on firm value (PBV). Conversely, profitability (ROE) and dividend policy (DPR) are proven to have a positive and significant effect. Simultaneously, the three variables contribute significantly to firm value. These findings conclude that strong profitability and a commitment to dividend distribution serve as positive signals for restoring investor confidence amidst post pandemic economic challenges.

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