The Effect of Debt Policy, Dividend Policy, and Share Prices during the Covid-19 Pandemic on the Value of Manufacturing Companies in the Food and Beverage Sub Sector Listing on the Indonesia Stock Exchange in 2020

Abstract

This study aims to determine the influence of Debt Policy, Dividend Policy, and Stock Prices during the Covid-19 pandemic on the Value of Food and Beverage Manufacturing Companies Listed on the Indonesia Stock Exchange in 2020. The independent variables in this study are Debt Policy, Policy Dividends, and Stock Prices. Meanwhile, the dependent variable in this study is firm value. The population of this research is the Food and Beverage Sub-Sector Manufacturing Companies listed on the IDX in 2020. The sample was determined based on the purposive sampling method with specific criteria. Data for a population of 96 companies from quarter 1 to quarter 4 of 2020. The results show that debt policy does not affect firm value, dividend policy has no effect on firm value, and stock prices positively affect firm value. Moreover, simultaneously Debt Policy, Dividend Policy, and Stock Prices significantly affect Company Value.