Pengaruh Kepemilikan Institusional dan Kebijakan Dividen terhadap Nilai Perusahaan

Abstract

A company is to get optimal profits that can improve the welfare of the owners and managers of the company. The main objective is reflected in the value of the company. This study aims to examine whether institutional ownership influences dividend policy, whether dividend policy influences the value of the company, and whether institutional ownership and dividend policy influence the value of the company. The research population is companies that go public and are listed on the Indonesia Stock Exchange (IDX). The research sample was 94 companies whose shares were included in the LQ 45 index that distributed dividends. The research period is for 3 years, namely 2013 - 2015 using report data in the form of performance summaries issued by the Indonesia Stock Exchange (IDX) every August. Data testing uses classical assumption testing and hypothesis testing using linear regression analysis. The results of the study show that institutional ownership does not affect dividend policy, dividend policy does not affect the value of the company, and institutional ownership and dividend policy does not affect the value of the company.