DAFTAR ISI
ABSTRAK .............................................................................................................. i ABSTRACK ............................................................................................................ ii KATA PENGANTAR .......................................................................................... iii UCAPAN TERIMA KASIH ............................................................................... iv DAFTAR ISI ......................................................................................................... vi DAFTAR TABEL ............................................................................................... xii DAFTAR GAMBAR .......................................................................................... xiv DAFTAR LAMPIRAN ........................................................................................xv
BAB I PENDAHULUAN 1.1 Latar Belakang ........................................................................................1 1.2 Identifikasi Masalah ................................................................................7 1.3 Maksud dan Tujuan Penelitian ................................................................7 1.4 Manfaat Penelitian ..................................................................................8 1.5 Metode Penelitian....................................................................................8 1.6 Teknik Pengumpulan Data ......................................................................9 1.7 Lokasi dan Waktu Penelitian ..................................................................10
BAB II TINJAUAN PUSTAKA 2.1 Manajemen Keuangan ....................................................................................11 2.1.1
Pengertian Manajemen Keuangan......................................................11
2.1.2
Fungsi Manajemen Keuangan ............................................................11
2.1.3
Tujuan Manajemen Keuangan ...........................................................13
2.2 Laporan Keuangan ........................................................................................13 2.2.1
Pengertian Laporan Keuangan ...........................................................13
2.2.2
Jenis-jenis Laporan Keuangan ...........................................................14
2.3 Keputusan Pendanaan ....................................................................................16 2.3.1
Pengertian Struktur Modal .................................................................17
2.3.2
Teori Struktur Modal..........................................................................18
2.3.3
Mengukur Sumber Modal Perusahaan ...............................................20
2.4 Keputusan Investasi........................................................................................21 2.4.1
Pengertian Investasi ...........................................................................21
2.4.2
Pentingnya Keputusan Investasi ........................................................22
2.4.3
Jenis-jenis Keputusan Investasi ..........................................................24
2.4.4
Investasi Keuangan .............................................................................24
2.4.5
Metode Penelitian Investasi ................................................................25
2.5 Kebijakan Dividen ..........................................................................................28 2.5.1
Pengertian Kebijakan Dividen ............................................................28
2.5.2
Teori Kebijakan Dividen ....................................................................29
2.5.3
Jenis-jenis Kebijakan Dividen ............................................................31
2.5.4
Faktor-faktor yang berpengaruh terhadap Kebijakan Dividen ...........32
2.5.5
Prosedur Pembayaran Dividen ...........................................................33
2.5.6
Mengukur Tingkat Pembayaran Dividen ...........................................34
2.6 Nilai Perusahaan .............................................................................................35 2.6.1
Pengertian Nilai Perusahaan ...............................................................35
2.6.2
Ukuran Nilai Perusahaan ....................................................................35
2.7 Pengaruh Keputusan
Pendanaan,
Keputusan
Investasi,
dan
Kebijakan Dividen terhadap Nilai Perusahaan ..............................................37 2.7.1
Pengaruh Keputusan Pendanaan terhadap Nilai Perusahaan .............37
2.7.2
Pengaruh Keputusan Investasi terhadap Nilai Perusahaan .................37
2.7.3
Pengaruh Kebijakan Dividen terhadap Nilai Perusahaan ...................38
2.8
Kerangka Pemikiran ......................................................................................39
2.9
Hipotesis ........................................................................................................46
BAB III OBJEK DAN METODE PENELITIAN 3.1 Objek Penelitian ...........................................................................................47 3.1.1
Sejarah Singkat BEI ........................................................................47
3.1.2
Gambaran Umum Perusahaan ..........................................................50
3.2 Metode Penelitian..........................................................................................60 3.2.1
Operasional Variabel ........................................................................61
3.2.2
Jenis Dan Sumber Data ....................................................................64
3.2.3
Teknik Pengumpulan Data ...............................................................64
3.2.4
Populasi dan Sanpel Penelitian ........................................................65
3.2.5
Teknik Analisis Data ........................................................................67
3.2.5.1 Uji Asumsi Klasik .....................................................................67 1. Uji Normalitas .....................................................................67 2. Uji Multikolinieritas ............................................................68 3. Uji Autokorelasi ..................................................................69 4. Uji Heteroskedasitas............................................................69 3.2.5.2 Analisis Korelasi .......................................................................70 1. Korelasi Berganda ...............................................................70 2. Korelasi Sederhana..............................................................72 3.2.5.3 Koefisien Determinasi ...............................................................72 3.2.5.4 Analisis Regresi ........................................................................73 1. Regresi Sederhana ...............................................................73 2. Regresi Berganda ................................................................74 3.2.5.5 Pengujian Hipotesis ...................................................................75 1. Analisis Statistik secara Simultan (Uji F) ...........................75 2. Analisis Statistik secara Parsial (Uji t) ................................77
BAB IV HASIL PENELITIAN DAN PEMBAHASAN 4.1 Perkembangan Keputusan Pendanaan, Keputusan Investasi, Kebijakan
Dividen
dan
Nilai
Perusahaan
pada
Industri
Manufaktur yang Go Public di BEI Periode 2010-2014 ...........................80 4.1.1
Perkembangan Keputusan Pendanaan (DER) pada Tahun 2010-2014 ......................................................................80
4.1.2
Perkembangan Keputusan Investasi (TAG) pada Tahun 2010-2014 .................................................................................86
4.1.3
Perkembangan Kebijakan Deviden (DPR) pada Tahun 2010-2014 .................................................................................92
4.1.4
Perkembangan Nilai Perusahaan (PBV) pada Tahun 2010-2014 .................................................................................98
4.2 Pengaruh Keputusan Pendanaan, Keputusan Investasi, Kebijakan Deviden terhadap Nilai Perusahaan secara Simultan pada Industri Manufaktur yang Go Public di Bursa Efek Indonesia Periode 2010-2014 ..................................................................................................105 4.2.1
Uji Asumsi Klasik .....................................................................105 a. Uji Normalitas .....................................................................105 b. Uji Multikolinieritas ............................................................106 c. Uji Autokorelasi ..................................................................107 d. Uji Heteroskedasitas ...........................................................108
4.2.2
Uji Statistik ...............................................................................110 a. Analysis Regresi Berganda .................................................110 b. Analisis Korelasi Berganda .................................................111 c. Analslisis Koefisien Determinasi ........................................112 d. Pengujian Hipotesis secara Simultan (Uji F) ......................113
4.3 Pengaruh Keputusan Pendanaan, Keputusan Investasi, dan Kebijakan Dividen terhadap Nilai Perusahaan secara Parsial pada Industri Manufaktur yang Go Public di Bursa Efek Indonesia periode 2010-2014 .....................................................................................115 4.3.1
Pengaruh
Keputusan
Pendanaan,
terhadap
Nilai
Perusahaan secara Parsial pada Industri Manufaktur yang Go Public di Bursa Efek Indonesia Periode 20102014 ...........................................................................................115 4.3.1.1 Analisis Korelasi, Determinasi, dan Uji Regresi Linier Sederhana ...........................................................1115 1. Korelasi Sederhana.................................................115 2. Koefisien Determinasi ............................................116 3. Uji Analisis Regresi Sederhana ..............................117 4.3.1.2 Pengujian Hipotesis secara Parsial (Uji t) .....................118
4.3.2
Pengaruh
Keputusan
Investasi
terhadap
Nilai
Perusahaan secara Parsial pada Industri Manufaktur yang Go Public di Bursa Efek Indonesia Periode 20102014 ...........................................................................................120 4.3.2.1 Analisis Korelasi, Determinasi, dan Uji Regresi Linier Sederhana ...........................................................120 1. Korelasi Sederhana.................................................120 2. Koefisien Determinasi ............................................121 3. Uji Analisis Regresi Sederhana ..............................121 4.3.2.2 Pengujian Hipotesis secara Parsial (Uji t) .....................122
4.3.3
Pengaruh Kebijakan Dividen terhadap Nilai Perusahaan secara Parsial pada Industri Manufaktur yang Go Public di Bursa Efek Indonesia Periode 2010-2014 .................124 4.3.3.1 Analisis Korelasi, Determinasi, dan Uji Regresi Linier Sederhana ...........................................................124
1. Korelasi Sederhana.................................................124 2. Koefisien Determinasi ............................................125 3. Uji Analisis Regresi Sederhana ..............................125 4.3.3.2 Pengujian Hipotesis secara Parsial (Uji t) .....................126
BAB V KESIMPULAN DAN SARAN 5.1 Kesimpulan ....................................................................................................128 5.2 Saran ...............................................................................................................132 DAFTAR PUSTAKA LAMPIRAN RIWAYAT HIDUP
