Pengaruh Kepemilikan Manajerial, Kebijakan Deviden, Kebijakan Hutang dan Pertumbuhan Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Sektor Consumer Non-Cyclicals Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2020-2023
DOI:
https://doi.org/10.35870/jemsi.v11i6.5026Keywords:
Managerial Ownership, Dividend Policy, Corporate Growth, Corporate Value, Consumer Non-Cyclicals SectorAbstract
This study aims to determine: The Effect of Managerial Ownership, Dividend Policy, Debt Policy and Company Growth on Company Value in Consumer Non-Cyclicals Sector Companies Listed on the IDX in 2020-2023. This study was conducted in May 2025. This type of research is quantitative research. The population in this study is all Consumer Non-Cyclicals sector companies on the Indonesia Stock Exchange with a sample of 36 companies. The data used in this study are data on Consumer Non-Cyclicals sector companies listed on the Indonesia Stock Exchange in 2020-2023 using panel data regression. The results of this study show that: (1) the impact of managerial ownership has the highest positive value in WIIM at Rp 20.151871, while COCO records a negative impact of Rp -6.466383 due to differences in corporate governance and weak ownership structure; (2) the impact of dividend policy contributes positively to WIIM at Rp 20.151871, but has a negative effect on COCO at Rp -6.452490, driven by market perceptions that dividend distribution hinders expansion; (3) the impact of debt policy shows the highest effect in WIIM at Rp 20.569430, indicating effective leverage, while COCO experiences a negative impact of Rp -6.048824 due to default risk and poor debt management; (4) the impact of company growth is positive for WIIM at Rp 19.666507, but negative for COCO at Rp -6.951747, as it is not accompanied by improved financial performance. These findings indicate that the four variables play a strategic role in influencing firm value in an industry that is relatively stable but highly sensitive to the quality of internal management.
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