THE EFFECT OF INFORMATION ASYMMETRY AND MANAGEMENT DIVIDEND POLICY ON FIRM VALUE

This study aims to find out the knowledge of information asymmetry and management dividend policy on company value. In addition, this study was also conducted to find out how much information asymmetry and dividend policy affect the company's value. The research was conducted with the scope of property and real estate sector companies listed on the Indonesia Stock Exchange for the 2018-2023 period. This study uses an associative quantitative approach with a panel regression model using secondary data. Based on the results of partial testing, information asymmetry has no effect on the company's value, in other words, information asymmetry tends not to have a direct impact on the company's value, especially on companies that already have a good monitoring and information disclosure mechanism. The study also found that dividend policies have a negative effect on the value of companies. In this sector, investors tend to consider the long-term growth potential and the quality of a company's assets rather than just paying attention to dividend distribution. This study also states that the asymmetry of information and dividend policy simultaneously (together) has a positive and significant effect on the company's value. Dividend policy serves as a tool to send positive signals to the market regarding the company's financial stability and prospects. Consistent dividend payments demonstrate good profitability and controlled risk management, thereby increasing investors' positive perception of the company's value.