THE EFFECT OF DIVIDEND POLICY, DEBT POLICY, INSIDER OWNERSHIP ON FIRM VALUE IN PERIOD OF JOKOWI

Abstract

This study aims to measure the influence of dividend policy, debt policy, and insider ownership on the value of property, real estate and construction companies in the Jokowi era and before Jokowi era. The data were collected from the existence data before the period Jokowi in 2012 to 2014 and in the period of Jokowi in 2015 to 2017. The purposive sampling technique was conducted based on certain criteria. The multiple regression analysis using t-test was utilized to recognize whether there is significant of the independent variables towards dependent variable. The overall results of the study indicate that dividend policy and debt policy do not have a significant effect on firm value on both period. Insider ownership has a significant effect on firm value during the period of observation with probability (p-value) below the error rateof 5% but there is no significant difference in influence. It can be said that it has the same effect in both periods.