Published: 2025-12-01
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: 10.35870/jemsi.v11i6.5026
Abstract
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.
Keywords
Managerial Ownership; Dividend Policy; Corporate Growth; Corporate Value; Consumer Non-Cyclicals Sector
Article Information
This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.
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Issue: Vol. 11 No. 6 (2025)
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Section: Articles
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Published: 2025-12-01
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License: CC BY 4.0
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Copyright: © 2025 Authors
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DOI: 10.35870/jemsi.v11i6.5026
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Zahra Meisy Utami, Universitas PGRI Sumatera Barat
Pendidikan Akuntansi, Ekonomi dan Bisnis, Universitas PGRI Sumatera Barat, Kota Padang, Indonesia.
Ansofino Ansofino, Universitas PGRI Sumatera Barat
Pendidikan Akuntansi, Ekonomi dan Bisnis, Universitas PGRI Sumatera Barat, Kota Padang, Indonesia.
Indra Mulia Pratama, Universitas PGRI Sumatera Barat
Pendidikan Akuntansi, Ekonomi dan Bisnis, Universitas PGRI Sumatera Barat, Kota Padang, Indonesia.
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