DETERMINAN NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEND SEBAGAI VARIABEL MODERASI PADA PERUSAHAHAAN MANUFAKTUR DI INDONESIA

Abstract

The effect of liquidity, leverage and profitability on firm value with dividend policy as a moderating variable is often the subject of study in several studies, as well as this research which has the same objective. In this study, manufacturing companies at IDX were the object of research, data were taken from 2017-2020. By looking at the company's financial statements and annual report an analysis is carried out. With a population of 193 companies from 32 sample companies, descriptive statistical analysis, classical assumption test, and Moderated Regression Analysis were carried out. The results show that there is a positive effect of profitability on firm value, and liquidity and leverage have no effect on firm value. Likewise, the dividend policy moderating variable is unable to moderate the effect of liquidity, profitability, and leverage on firm value.