The Impact of Firm Size, Dividend Policy, Profitability, and Investment Decisions on Firm Value in Indonesian SRI-KEHATI Index Companies
DOI:
https://doi.org/10.30595/raar.v5i2.28491Abstract
This study aims to examine the effect of company size, dividend policy, profitability, and investment decisions on company value in companies listed in the SRI-KEHATI Index for the 2021–2024 period. The data for this study are secondary panel data from the financial statements of SRI-KEHATI companies. The method used is multiple linear regression with the help of SPSS 26. The classical assumption test shows that the data is normally distributed, there is no multicollinearity, heteroscedasticity, or autocorrelation. The results of the regression analysis show a significant regression model (F = 8.959; p < 0.01) with a coefficient of determination R² = 0.366. There is a significant negative effect of company size (β = –0.447, p = 0.001), profitability (β = –0.764, p < 0.001), and investment decisions (β = –0.358, p = 0.001) on company value. In contrast, dividend policy had no significant effect (β = 0.098, p = 0.365). In conclusion, larger company size, profitability, or investment volume tended to decrease firm value in this sample, while dividend policy had no impact.
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Copyright (c) 2025 Farid Muhammad Rofifudin, Nurul Aisah, Ilham Karin Rizkiawan
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