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Research Paper | Finance | Indonesia | Volume 8 Issue 10, October 2019

The Effect of Leverage, Dividend Policy, Effectiveness, Efficiency, and Firm Size on Firm Value in Plantation Companies Listed on IDX

Aang Munawar

Abstract: This research aims to test the influence of the variable Leverage (DER), Dividend Payout Ratios (DPR), Effectiveness (TATO), Efficiency (NPM), and Firm Size (Ln-Sales) to the Firm Value (Market Price) of plantations companies listed on the IDX. The population of the plantations listed in IDX is as much as 18 companies, but the plantation companies that have full data from the year 2009 to 2014 are 8 (eight) companies. The type of data used is secondary data by processing data from a company issued report. Subsequent data was analyzed which was preceded by testing the classical assumptions and testing the regression model. The results showed that the suitable regression model is a fixed effect model and partially Effectiveness (TATO), Efficiency (NPM), and Size that influence on the firm value while the leverage (DER), and Dividend Policy (DPR) does not affect on the firm value. Simultanously leverage, dividend policy, effectiveness, efficiency, and firm size affect to firm value.

Keywords: leverage, dividend policy, effectiveness, efficiency, size, firm value

Edition: Volume 8 Issue 10, October 2019,

Pages: 244 - 252