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VOL. 8, ISSUE 2 (2026)
The effect of dividend policy and sustainability reports on firm value of non-cyclical consumer sector 2021-2024
Authors
Balqis Safira Kusuma Wardani, Marsono
Abstract
Firm value is an important indicator that reflects investors
perceptions of a company’s condition and future prospects, and it is reflected
in the company’s stock price. This study aims to examine the effect of dividend
policy and sustainability report on firm value in consumer non-cyclicals sector
companies listed on the Indonesia Stock Exchange during the 2021– 2024 period.
This study employs a quantitative approach using secondary data obtained from
annual reports and sustainability reports. The sampling technique used is
purposive sampling, resulting in 15 companies with a total of 60 observations.
Data analysis was conducted using SPSS 26 with multiple linear regression
analysis. Dividend policy is measured using the Dividend Payout Ratio (DPR),
sustainability report is measured using the Sustainability Report Disclosure
Index (SRDI), and firm value is measured using Price to Book Value (PBV). The
results show that dividend policy and sustainability report simultaneously have
a significant impact on firm value. Partially, dividend policy have a no impact
and sustainability report have a negative impact on firm value in the consumer
non-cyclicals sector.
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Pages:125-130
How to cite this article:
Balqis Safira Kusuma Wardani, Marsono "The effect of dividend policy and sustainability reports on firm value of non-cyclical consumer sector 2021-2024". International Journal of Management and Economics, Vol 8, Issue 2, 2026, Pages 125-130
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