KEBIJAKAN HUTANG DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA SUB SEKTOR ROKOK YANG TERDAFTAR DI BURSA EFEK INDONESIA

The purpose of this research are to know the influence of Debt Policy, Dividend Policy to the Firm
Value at Sub Sector Company Cigarette listed in Indonesia Stock Exchange. The data were analyzed in this
research using descriptive analysis of qualitative and quantitative descriptive anal ysis covering the classic
assumption test, multiple linear regression analysis, and hypothesis testing. The result of the study can be
summarized as follows: 1) The result of multiple regression analysis of Ŷ = -4,615 + 5,255X1 + 11,725X2
means debt policy and dividend policy have positive effect on firm value. 2) there is strong correlation
between debt policy and dividend policyof the enterprise value of 0,529. 3) The study shows that debt policy
and dividend policy simultaneously positive and significant impact on firm value and partially shows that
ldebt policy positive effect and no significant on the firm value while dividend policy positive effect and
significant impact on the firm value.