THE EFFECT OF DEBT POLICY AND BUSINESS RISK ON FIRM VALUE WITH DIVIDEND POLICY AS A MODERATING VARIABLE

Junilla Ibnasari, Anny Widiasmara, Juli Murwani

Abstract


This study aims to analyze the effect of debt policy and business risk on firm value with dividend policy as a moderatingvariable. The research object is property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the2020–2023 period. The method used is quantitative with a descriptive approach and moderated regression analysis (MRA). The sample consisted of 52 companies selected using purposive sampling. The results show that: (1) debt policypositively affects firm value, (2) business risk does not affect firm value, (3) dividend policy is able to moderate the relationship between debt policy and firm value (4) dividend policy positively moderates the effect of business risk on firm value.

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References


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