PENGARUH KEBIJAKAN DIVIDEN, STRUKTUR MODAL, DAN ISLAMIC SOCIAL REPORTING TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN YANG TERDAFTAR DALAM JAKARTA ISLAMIC INDEX

This study aims to analyze and test the effects of dividend policy, capital structure, and Islamic Social Reporting on firm value among companies listed on the Jakarta Islamic Index for the 2021–2024 period on the Indonesia Stock Exchange. Corporate value is proxied using the Price-to-Book Value ratio, dividend policy is measured by the Dividend Payout Ratio, capital structure is measured by the Debt-to-Equity Ratio, and ISR is measured based on the Islamic Social Reporting disclosure index. This study employs a quantitative approach, utilizing secondary data in the form of annual reports and sustainability reports obtained from the official IDX website and the respective companies’ websites. The sampling technique used purposive sampling, resulting in 15 companies consistently listed on the JII with a total of 60 observations during the study period as the sample. Data analysis was performed using panel data regression with the assistance of Eviews 13 software. The results indicate that dividend policy and ISR do not have a significant effect on firm value, whereas capital structure has a significant effect on firm value. This suggests that managing the balance between debt and equity plays a crucial role in enhancing firm value. These findings indicate that financial signals through dividend distribution, proper capital structure management, and Sharia-based social responsibility disclosures can enhance investor confidence and strengthen the value of Sharia-compliant companies in the capital market. The research results have implications for company management, Sharia investors, and regulators in improving the quality of financial policies and social reporting to support sustainable corporate value growth