| dc.description.abstract | The objective of this research is to know how leverage policy, dividend
policy and earnings per share influence firm’s values in go public manufacturing
companies which are listed in The Indonesia Stock Exchange. The variable used
in this research are leverage policy which is measured with leverage ratio,
dividend policy which is measured with dividend payout ratio, and earning per
share, as independent variable, and the values of firm measured with Tobin’s Q
as dependent variable.
Population of this research is implemented to manufacturing companies
listed in the Indonesia Stock Exchange from 2006 – 2010. The number of sample
in this research is 20 companies with 100 observations. The data of this research
is secondary data, and the analysis method which has been used for this research
is multiple regression analysis.
The result of this research is that the first hypothesis showed that Ho is
rejected and Ha is accepted, it means the leverage variable has a significant
influence to the firm value variable. It showed that the proposed hypothesis is
successfully supported. The second hypothesis showed that Ho is rejected and Ha
is accepted. It means that the EPS (Earning per share) variable has a significant
influence to the firm value variable. It showed that the purposed hypothesis is
successfully supported. The third hypothesis showed that Ho is rejected and Ha is
accepted. It means dividend variable has a significant influence to the firm value
variable. It showed that the purposed hypothesis is successfully supported.
The conclusion of this research confirmed that leverage policy, dividend
policy and earnings per share give simultaneous influences which are significant
to the firm value. It showed that the fourth purposed hypothesis is successfully
supported (Ho is rejected and Ha is accepted).
Key words: leverage policy, dividend policy, firm value, leverage ratio, dividend
payout ratio, earnings per share, tobin’s Q | en_US |
