PENGARUH KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI

ANDAYANI, ARDI DIAN (2026) PENGARUH KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI. S1 thesis, Universitas PGRI Madiun.

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Abstract

Dividend policy is a financial decision believed to provide positive signals to investors and influence firm value. However, the effectiveness of dividend policy on firm value is assumed to be influenced by ownership structure, including managerial ownership, which has the potential to strengthen or weaken this relationship. This study aims to examine the effect of dividend policy on firm value with managerial ownership as a moderating variable. This research employed a quantitative approach using a sample of 69 companies selected through purposive sampling from non-financial companies listed on the Bursa Efek Indonesia (BEI) during the 2021–2025 period. Data were analyzed using panel data regression analysis with Moderated Regression Analysis (MRA). The results showed that dividend policy had a non-significant effect on firm value. Furthermore, managerial ownership was unable to moderate the effect of dividend policy on firm value. These findings indicate that firm value is determined more by a company’s ability to generate sustainable profits than by the amount of dividends distributed, while managerial ownership serves more as a factor directly affecting firm value rather than a variable that strengthens or weakens the relationship between dividend policy and firm value.

Item Type:	Thesis/Skripsi/Tugas Akhir (S1)
Kata Kunci:	Kebijakan Dividen, Nilai Perusahaan, Kepemilikan Manajerial Dividend Policy, Firm Value, Managerial Ownership
Subjects:	A Social Sciences > H Social Sciences (General) A Social Sciences > HF Commerce > HF5601 Accounting A Social Sciences > HG Finance
Divisions:	Fakultas Keguruan dan Ilmu Pendidikan > Pendidikan Akuntansi
Depositing User:	ANDAYANI DIAN ARDI
Date Deposited:	06 Oct 2026 01:45
Last Modified:	06 Oct 2026 01:45
URI:	http://eprint.unipma.ac.id/id/eprint/9839

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