Dividend policy and profitability boost firm value, firm size irrelevant.
The research looked at how factors like debt, profits, company size, and dividend payments affect the value of certain companies in Indonesia from 2018 to 2020. They studied 21 non-cyclical firms and found that dividends and profits tend to increase a company's value. However, company size doesn't seem to have a big impact, and having more debt doesn't necessarily lower a company's value.