Pengaruh Return On Equity, Current Ratio dan Dividend Payout Ratio Terhadap Nilai Perusahaan Berbasis Tobin’s Q (Studi Empiris Pada Perusahaan Indeks IDX High Dividend 20)

Abstract

Firm value is very important because the high value of the firm which will be followed by higher shareholder wealth. This study aims to analyze the effect of Return On Equity, Current Ratio and Dividend Payout Ratio of firm value based on Tobin’s Q on the Index IDX High Dividend 20 period 2015-2017. This research is quantitative with a sample of research in the form of financial statements from 20 companies consisting of 60 financial statements in 2015-2017 that are included in IDX High Dividend 20 and have met the criteria with a significance level of 5%. The study was conducted using secondary data and processed with multiple linear regression analysis methods. Data source is the annual report of banking companies taken through the official website of Indonesia Stock Exchange (www.idx.co.id). The results of this study indicate that Return On Equity and Current Ratio have a positive and significant effect of firm value based on Tobin’s Q on the Index IDX High Dividend 20 period 2015-2017, while Dividend Payout Ratio has a negative effect of firm value based on Tobin’s Q on the Index IDX High Dividend 20 period 2015-2017.