PENGARUH DEBT TO EQUITY RATIO DAN DIVIDEND PAYOUT RATIO TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2022-2025

Nadia Rahmawati; Saridawati Saridawati

doi:10.63754/jcn.v4i3.215

Authors

Nadia Rahmawati Universitas Bina Sarana Informatika
Saridawati Universitas Bina Sarana Informatika

DOI:

https://doi.org/10.63754/jcn.v4i3.215

Keywords:

Debt to Equity Ratio (DER), Dividend Payout Ratio (DPR), Firm Value, Manufacturing Companies.

Abstract

Firm value is one of the metrics investors use to assess a company's condition and prospects. This study analyzes the effect of the Debt-to-Equity Ratio (DER) and the Dividend Payout Ratio (DPR) on firm value in manufacturing companies listed on the Indonesia Stock Exchange during the 2022–2025 period. The study sample consisted of 15 companies selected using a purposive sampling technique, with a total of 60 observations. Testing was conducted using a quantitative approach and multiple linear regression analysis. The results show that DER has a negative and significant effect on firm value, indicating that increased debt usage can lower investor valuations. Conversely, DPR has a positive and significant effect, indicating that higher dividend distributions tend to increase firm value. These two variables explain 27.6% of the variation in firm value, while the remaining 72.4% is influenced by other factors not examined.

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