PENGARUH LEVERAGE, PROFITABILITAS, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE 2022-2024

SRI, WAHYUNI and IDA, SUBAIDA and LITA, PERMATA SARI (2026) PENGARUH LEVERAGE, PROFITABILITAS, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE 2022-2024. PENGARUH LEVERAGE, PROFITABILITAS, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE 2022-2024, 5 (4). pp. 761-776. ISSN 2694-898X

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Official URL: https://unars.ac.id/ojs/index.php/jme/article/view...

Abstract

This study aims to examine the effects of leverage, profitability, and liquidity on firm value through dividend policy as an intervening variable among food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 20222024 period. The study employed a quantitative research approach using secondary data obtained from the companies' annual financial reports. The population consisted of 95 food and beverage companies listed on the Indonesia Stock Exchange. A purposive sampling technique was applied, resulting in a final sample of 14 companies observed over three years, yielding a total of 42 firm year observations. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) implemented in SmartPLS 3.0. The results of the direct effects analysis reveal that leverage has a negative, but statistically insignificant, effect on dividend policy. Profitability and liquidity each have positive, but statistically insignificant, effects on dividend policy. With respect to firm value, leverage and liquidity exhibit negative but statistically insignificant effects, whereas profitability has a positive and statistically significant effect. In contrast, dividend policy has a negative and statistically significant effect on firm value. The results of the indirect hypothesis testing indicate that leverage, profitability, and liquidity do not have statistically significant indirect effects on firm value through dividend policy.

Item Type:	Article
Subjects:	H Social Sciences > HG Finance
Divisions:	Fakultas Ekonomi > S1 Manajemen
Depositing User:	Sri Wahyuni
Date Deposited:	13 Oct 2026 03:35
Last Modified:	13 Oct 2026 03:35
URI:	http://repository.unars.ac.id/id/eprint/4924

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