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The DIVIDEND POLICY AND PROFITABILITY ON COMPANY VALUE WITH DEBT POLICY AS INTERVENING VARIABLES Wiki Indah Larasati; Ana Susi Mulyani
Management Science Research Journal Vol. 1 No. 1 (2022): February 2022
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (313.888 KB) | DOI: 10.2022/msr.v1i1.10

Abstract

This research was conducted to find out the Effect of Dividend Policy and Profitability on Firm Value with Debt Policy as an Intervening Variable Case Study in automotive sub-sector companies listed on the Indonesia Stock Exchange for the 2010-2020 period. The variables in this study are Dividend Policy which is proxied by Dividend Payout Ratio (DPR), Profitability is proxied by Return On Assets (ROA), Firm Value is proxied by Price to Book Value (PBV), and Debt Policy is proxied by Debt Equity Ratio (DER). The object of research uses research variables. The data collection method is in the form of documentation of financial statements on the BEI through ICMD. The number of samples in this study were 5 companies which were determined using the purposive sampling method. The data analysis techniques in this study are descriptive and causal, classical assumption test, multiple linear regression, hypothesis testing, path analysis test, and Sobel test using SPSS version 26. The results of this study indicate that: (1) Dividend Policy has an effect on Debt Policy (2) Profitability has an effect on Debt Policy (3) Dividend Policy has an effect on Firm Value (4) Profitability has an effect on Firm Value (5) Debt Policy has an effect on Firm Value (6) Debt Policy is unable to mediate the relationship between Dividend Policy and Firm Value (7) Debt Policy is unable to mediate the relationship between Profitability and Firm Value.
THE INFLUENCE OF RETURN ON ASSET (ROA) AND CURRENT RATIO (CR) ON BOND RATING Ana Susi Mulyani; Wawan Ichwanudin
Management Science Research Journal Vol. 1 No. 2 (2022): May 2022
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (162.988 KB) | DOI: 10.2022/msr.v1i2.15

Abstract

Bond rating is something that should be considered for investors and issuers before making a decision on bond investment. This study aims to determine the effect of ROA and CR on the Rating of Bonds. The research population is non-financial sector companies listed on the Indonesia Stock Exchange in 2013-2017. The research sample amounted to 22 companies out of 453 population numbers using the Purposive Sampling method. Data analysis techniques use logistic regression. Results: 1) ROA has a positive and significant effect on bond ratings. 2) CR does not affect the bond rating.