EFFECT OF RETURN ON ASSET, RETURN ON EQUITY, DEBT POLICY, DIVIDEND POLICY AND INVESTMEN DECISION TO FIRM VALUE (Study on the Property dan Real Estate companies l

Abstract

This research is motivated by the survival of companies in the era of globalization. Where the company is required for the welfare of the shareholders or stakeholders. Interest establishment of a company is to maximize the value of the company. The value of the company itself can describe the state of a company. Because through the company's value can be known the price of a company's stock is traded on the capital market. As for the purpose of this research was to determine the effect of variable Return on Assets (X1), Return on Equity (X2), Policy Debt (X3), Dividend Policy (X4), and Investment Decisions (X5) on the value of a company that is proxied by PBV (Price Book Value).
Samples were taken and Real Estate Property company whose shares are listed on the Indonesia Stock Exchange 2011-2015 period with the number of 20 companies by using purposive sampling method. While the methods of analysis used is the classic assumption test and multiple hypothesis testing and analysis.
The results of this study indicate that (1) Return on Assets has negative and not significantly affect the value of the company, (2) Return on Equity has positive and significantly affect the value of the company, (3) Policies Debt has positive and does not significantly affect the value of the company, (4) Dividend Policy has negative and did not significantly affect the value of the company, (5) Investment Decision has positive and significantly affect the value of the company. Results of regression estimation shows the predictive capacity of five independent variables on corporate value by 37% while the remaining 63% are influenced by other factors outside the model that are not included in this analysis.
Keywords: Company Value, Return on Assets, Return in Equity,
Debt to Equity Ratio, Dividend Payout Ratio, Price Earning Ratio