PENGARUH PROFITABILITAS, KEPUTUSAN PENDANAAN DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN : KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Study Empiris Perusahaan Property dan Real Estate Tahun 2012 – 2014)

Abstract

The value of the company is very important because the increase in the
value of a company will increase the prosperity of shareholders. The increase in a firm
value will increase its stock price. This will attract investors to invest their money in that
firm. The porpose of this study was to examine the effect of firm profitability, funding and
investment decision on firm value in which dividend policy as an intervening variable.
The object of this research is property and real estate companies listed in the Indonesian
Stock Exchane. The number of population in this research was 50 property and real
estate firms. The sample was 45 firms out of 50 firms in the period of 2012 – 2014.
Sampling method was based on the availability of the firm financial report during al the
period of 2012 – 2014. This study used regression and path analysis to examine the
effects. The statistical result can be concluded that ROE, DER and DPR had a positive
and significant effect on the PBV; PER didn’t have an effect on the PBV. The DPR wasn’t
able to mediate the relationship between ROE to PBV; the DPR wasn’t able to mediate the
relationship between DER to PBV; and the DPR was able to mediate the relationship
between DER to PBV.