The Effect Of Liquidity, Dividend Policy, Profitability, And Company Size On The Value Of Manufacturing Companies Listed In The Jakarta Islamic Index (JII) Year (2020–2024)

Anjas Irawan; Ahmad Syahrizal; Achyat Budianto

doi:10.63922/ijbqr.v4i01.2569

Anjas Irawan Sharia Accounting Study Program, UIN Sulthan Thaha Syaifuddin Jambi
Ahmad Syahrizal Sharia Accounting Study Program, UIN Sulthan Thaha Syaifuddin Jambi
Achyat Budianto Sharia Accounting Study Program, UIN Sulthan Thaha Syaifuddin Jambi

DOI: https://doi.org/10.63922/ijbqr.v4i01.2569

Keywords: Liquidity, Dividend Policy, Profitability, Company Size, Company Value.

Abstract

This study aims to analyze the influence of liquidity, dividend policy, profitability, and company size on company value in manufacturing companies listed in the Jakarta Islamic Index (JII) in 2020-2024. In this study, a quantitative method was used and the analysis method used was multiple regression of panel data with the help of the eviews program 12. The data of this study is secondary data. The data collection technique uses financial statements registered on the IDX website with purposive sampling techniques. The results of the study show that it partially shows that liquidity (X₁) partially has no effect on the company's value (Y), this is proven by the company's value of 0.1503 > 0.05. The dividend policy (X₂) partially has no effect on the company's value (Y), this is evidenced by showing the company's value of 0.1693 > 0.05. Profitability (X₃) partially affects the value of the company (Y), this is proven to show a probability value of 0.0010 < 0.05. The size of the company (X₄) partially affects the value of the company (Y), this is proven by showing a probability value of 0.0074 < 0.05. The results of simultaneous hypothesis testing showed that liquidity, dividend policy, profitability and company size had an influence on the company's value.

References

Ainun, J. (2016). Liquidity, Leverage, and Profitability Affect the Value of Manufacturing Companies in Indonesia Through Dividend Policy. REACTION: Indonesian Accounting and Finance Research, 1(2), 108-118. https://doi.org/10.23917/reaksi.v1i2.2727

Akbar, F., & Fahmi, I. (2020). The Effect of Company Size, Profitability and Liquidity on Dividend Policy and Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange. Scientific Journal of Management Economics Students, 5(1), 62–81. https://doi.org/10.24815/JIMEN.V5I1.13710

Alexander, A. (2021). Management accounting in public entities. Indramayu: Adab.

Amrulloh, A., & Amalia, A. D. (2020). The Influence of Profitability, Capital Structure, Liquidity, Company Size and Dividend Policy on Company Value (Empirical Study on Banking Companies Listed on the Indonesia Stock Exchange for the Period of 2015-2019). Journal of Accounting and Finance, 9(2), 167–184. https://doi.org/10.36080/jak.v9i2.1421

Antari, N. K. N. D., Endiana, I. D. M., & Pramesti, I. G. A. A. (2022). The Effect of Dividend Policy, Liquidity, Profitability and Company Size on Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange in 2018-2020. Accounting Student Research Collection, 4(2), 92-102. https://e-journal.unmas.ac.id/index.php/kharisma/article/view/4847/3764

Astika, I. G., Suryandari, N. N. A., & Putra, G. B. B. (2019). The Effect of Profitability, Dividend Policy and Company Size on Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange (IDX) for the 2015-2018 Period. National Seminar on New Innovations in Science, Technology and Humanities Research, 746-757. https://eproceeding.undwi.ac.id/index.php/inobali/article/view/217

Astuti, N. K. B., & Yadnya, I. P. (2019). The Influence of Profitability, Liquidity, and Company Size on Company Value Through Dividend Policy. E-Journal of Management Unud, 8(5), 3275-3302. https://doi.org/10.24843/EJMUNUD.2019.v08.i05.p25

Budi, H. D. S., & Maryono. (2022). The Effect of Profitability, Company Size, Dividend Policy, and Leverage on Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2019-2021 Period. Scientific Journal of Accounting Students, 13(4), 1257-1266. https://doi.org/10.23887/jimat.v13i04.50998

Deasy, P., & Suryanto. (2022). Factors Affecting the Value of Non-Financial Companies Listed on the Indonesia Stock Exchange. E-Journal of Accounting TSM, 2(4), 451-462. https://doi.org/10.34208/ejatsm.v2i4.1732

Eka, I. (2017). The Influence of Company Size and Profitability on Company Value. ACCOUNTABILITY: Journal of Accounting Science, 10(2), 333-348. https://doi.org/10.15408/akt.v10i2.4649

https://www.bkpm.go.id/

https://www.idx.co.id/id

Jeni, I. (2021). Company Value and Dividend Policy in Construction and Engineering Companies on the Singapore Stock Exchange. Central Java: Pena Persada. https://osf.io/kv7um/

Jenny, A., & Mineva, R. V. (2021). The Effect of Liquidity and Profitability on Company Value. Competitive Journal of Accounting and Finance, 5(2), 127-130. http://dx.doi.org/10.31000/competitive.v5i2.4313

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X

Moeljadi. (2006). Financial Management Quantitative and Qualitative Approach. Volume 1. Malang: Bayumedia Publishing.

Oktaviarni, F., Murni, Y., & Suprayitno, B. (2019). The Influence of Profitability, Liquidity, Leverage, Dividend Policy, and Company Size on Company Value (Empirical Study of Real Estate, Property, and Building Construction Sector Companies Listed on the Indonesia Stock Exchange in 2014-2016). Journal of Accounting, 9(1), 1-16. https://doi.org/10.33369/j.akuntansi.9.1.1-15

Santoso, B. A., & Junaeni, I. (2022). The Influence of Profitability, Leverage, Company Size, Liquidity, and Company Growth on Company Value. Owner: Research & Journal of Accounting, 6(2), 1597-1609. https://doi.org/10.33395/owner.v6i2.795

Sartono, A. (2008). Financial Management Third Edition. Yogyakarta, BPFE.

Syaifuddin, D. T. (2003). Financial Management (theory and application). Kendari: UNHALU PRESS.

Thomas, S. G. (2023). Monograph: Financial Distress. Journal of Indomedia Pustaka, 7(2), 16-34. https://scholar.google.com/scholar?oi=bibs&cluster=5668227453381010391&btnI=1&hl=en

Triyonowati & Dewi, M. (2022). Financial Management Manual Iix. Sidoarjo: Indomedia Pustaka.

Yuniastri, N. P. A., Endiana, I. D. M., & Kumalasari, P. D. (2021). The Effect of Profitability, Dividend Policy, Investment Decisions, Capital Structure and Company Size on Company Value in Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2017-2019 Period. KARMA: Accounting Student Research Work, 1(1), 69-79. https://e-journal.unmas.ac.id/index.php/karma/article/view/1615/1299