PENGARUH PROFITABILITAS DAN KEPEMILIKAN MANAJERIAL TERHADAP NILA PERUSAHAAN BANK KONVENSIONAL YANG TERDAFTAR DI BEI PERIODE 2022-2024 DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI

Abstract

This study aims to examine the effects of profitability and managerial ownership on firm value, with dividend policy serving as a moderating variable, in 43 conventional banks listed on the Indonesia Stock Exchange during the 2022–2024 period. This study employed a quantitative research method using secondary data obtained from the financial statements of conventional banking companies published by the Indonesia Stock Exchange (IDX). The sample was selected using a purposive sampling technique, resulting in a final sample of 11 companies based on criteria predetermined by the researcher. The analytical methods applied in this study included classical assumption testing, consisting of normality and multicollinearity tests, the coefficient of determination (R2) test, structural model analysis (inner model), and hypothesis testing using SmartPLS version 3.0. The findings of this study show that profitability has a positive and significant effect on firm value, while managerial ownership has a positive but insignificant effect on firm value. Furthermore, the results of the moderation analysis indicate that dividend policy exhibits a positive relationship with the association between profitability and firm value; however, it is unable to moderate the effect of profitability on firm value. Meanwhile, dividend policy negatively weakens the relationship between managerial ownership and firm value and is likewise unable to moderate the effect of managerial ownership on firm value. The findings of this study are expected to provide insights into the factors influencing firm value.