MENAKAR NILAI PERUSAHAAN: PERAN KEPEMILIKANINSTITUSIONAL, KEBIJAKAN DIVIDEN, DAN PROFITABILITASDALAM PERSPEKTIF PASAR

Abstract

This study is motivated by the importance of firm value as an indicator of corporate performance and investment attractiveness in the capital market. The study aims to analyze the effect of institutional ownership, dividend policy, and profitability on firm value. This research employs a quantitative approach with a causal research design. The data used are secondary data obtained from the financial statements of food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. Data were collected through documentation techniques, and purposive sampling was applied, resulting in 207 companies as the research sample. The data analysis methods include regression model selection tests, classical assumption tests, panel data regression, and partial hypothesis testing (t-test), using Stata 17 and Microsoft Excel software. The results indicate that institutional ownership has no effect on firm value, while dividend policy, profitability, and firm size as a control variable have a negative effect on firm value. This study concludes that internal company factors do not necessarily increase firm value. Therefore, future research is recommended to incorporate additional variables and expand the research sector and period to obtain more comprehensive results.