PENGARUH PROFITABILITAS, STRUKTUR SOSIAL, LIKUIDITAS, DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN: STUDI EMPIRIS PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2019-2023

Abstract

This study aims to analyze the effect of profitability, social structure, liquidity, and dividend policy on firm value in the banking sector listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. The research is motivated by global economic fluctuations, monetary policy shifts, and internal challenges within the banking sector that influence firm value. A quantitative approach was employed, using multiple linear regression analysis. The independent variables include profitability (measured by Return on Assets), social structure (measured by the percentage of share ownership), liquidity (measured by Loan to Deposit Ratio), and dividend policy (measured by Dividend Payout Ratio). Firm value, the dependent variable, is measured by Tobin’s Q. The sample consists of seven banking companies selected through purposive sampling over five years. The results show that profitability, social structure as measured by managerial ownership and liquidity have a significant effect on firm value, while social structure as measured by majority ownership and dividend policy do not have a significant effect. Simultaneously, all four independent variables significantly influence firm value. These findings provide valuable insights for bank management, investors, and academics in formulating strategies to enhance firm value.