ANALISIS PENGARUH PROFITABILITAS, KEBIJAKAN UTANG, KEBIJAKAN DIVIDEN, SIZE, DAN MEKANISME GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN (Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2005-2010)

Abstract

Purpose of this research is to examine influence of profitability, debt policy, dividend policy, size, and Good Corporate Governance mechanism to firm’s value of manufacturing companies listed at Indonesian Stock Exchange during 2005-2010. Firm’s value is calculated by using Tobin’s Q. Meanwhile Good Corporate Governance mechanism is measured by independent commissioners and institutional ownership. Samples used in this research are manufacturing companies listed at Indonesian Stock Exchange on period 2005-2010. This research uses purposive sampling method to choose samples so it is resulted 10 companies as samples. Data is analyzed by using multiple regression method and descriptive statistics. This study finds that profitability has significant positive effect to firm’s value. Besides, this research proves there is significant positive influence between size and firm’s value. Whereas, other variables like debt policy, dividend policy, independent commissioners, and institutional ownership have no significant effect to firm’s value.