The Effect of Company Size, Dividend Policy and Profitability on Company Value: Comparative Analysis before and during the Coronavirus Disease-19 Pandemic

Abstract

Aims: This study aims to provide empirical proof of the effect of firm size, dividend policy, and profitability on the company value before and during the Covid-19 pandemic. Study Design: This study used a quantitative descriptive method. Place and Duration of Study: Indonesia Stock Exchange, Period 2016-2020. Methodology: This study used quantitative data with secondary data the in form of annual financial reports. The population is manufacturing companies in the consumer goods industry sector listed on the Indonesia Stock Exchange in 2016 - 2020, with a sample of 31 companies. Data analysis in this study was performed using multiple linear regression using IBM SPSS. Result: The results show that there was no effect and no significant of dividend policy on company value before the Covid-19 pandemic. While company size and profitability were effect and significant on company value before the Covid-19 pandemic. This is different during the covid-19 pandemic, company size was no effect and no significant on company value during the Covid-19 pandemic. While dividend policy and profitability were effect and significant to company value during the Covid-19 pandemic. Conclusion: This study shows that there are significant differences in the effect of company size, dividend policy, and profitability on company value before and during the Covid-19 pandemic.