funds used the fewer dividend funds are distributed to shareholders So from

Funds used the fewer dividend funds are distributed

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funds used, the fewer dividend funds are distributed to shareholders. So from this high company growth will not increase investor confidence and also will not increase company value. The results of the liquidity statistics test show the regression coefficient value -0.056 with a significance level of 0.348. Values greater significance than 5%, or 0.05, H4 is rejected. This study shows that liquidity does not affect company value. Liquidity is the company’s ability to pay debts on time. Liquidity is not related to shareholders because shareholders are prioritized in dividend payments if the company experiences profits or losses. Therefore high liquidity has no effect on shareholders or the value of the company. The high or low level of liquidity does not affect investors because investors do not see good companies for investment from only one factor or several factors. Investors not only see from one side the level of liquidity so investors will still invest their capital even though liquidity is low. Means it can be concluded that the level of liquidity of a company will not affect the value of the company. High liquidity within the company sometimes does not necessarily indicate the condition of the company is good. The company must do a way so that the company’s liquidity is good so that the creditors want to lend back so that the company can operate by funds from the creditor, the company sells a portion of the assets it owns. It shows that the company is not in good condition, so if there are investors who will invest their funds will think again in investing in the company because the company carries out company operations in this way, thus high liquidity does not affect the company’s value in the eyes of investors. This is consistent with research conducted by Sudiani and Darmayanti (2016). The results of statistical profitability testing show the value of the regression coefficient of
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144 p-ISSN:1411-6510 e-ISSN :2541-6111 Eni Kusumawati and Adi Setiawan JURNAL Riset Akuntansi dan Keuangan Indonesia Vol.4 No.2 September 2019 0.112 with a significance level of 0,000. Significance value is less than 5% or 0.05, then H5 is accepted. This research shows that profitability influences company value. This is consistent with research conducted by Anggawulan Saraswati et. al (2016). Profitability is the level of a company’s ability to generate profits. Investors invest capital in companies that are quite certain in earning profits, in other words, investors look at the profitability of the company. If profitability is high, it will increase investor interest in investing and this will affect the value of the company. High profitability gives a good indication of the company. The better growth of the company’s profitability means the future prospects are valued better by investors. If the company’s ability to generate profits increases, the share price will also increase and affect the value of the company. The greater the profitability of the company, it can be interpreted that the better the ability of all elements in the company. If all good elements reflect good
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