High Dividends, High Value? Empirical Study on Indonesia’s HIDIV20 Firms
Abstract
This study aims to analyze the influence of liquidity, profitability, leverage, dividend policy, CSR, and institutional ownership on firm value in companies listed on the High Dividend 20 (HIDIV20) index. The data used in this study is quantitative data derived from secondary data sources. The sampling technique employed was purposive sampling with panel data regression analysis method assisted by STATA 17. The results showed that leverage and CSR had a negative and significant effect on firm value. Conversely, liquidity, profitability, dividend policy, and institutional ownership were found to have no significant effect on firm value in companies listed on the High Dividend 20 index. Based on the research results, management is advised to prioritize internal financing to minimize solvency risk and evaluate the efficiency of CSR fund allocation. Investors are advised to pay closer attention to debt ratios and corporate cost efficiency before making investment decisions.
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DOI: http://dx.doi.org/10.18415/ijmmu.v13i3.7399
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