PENGARUH PROFITABILITAS DAN INVESTMENT OPPORTUNITY SET TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (STUDI PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA TAHUN 2013-2017)

Abstract

This study aims to analyze the effect of profitability and investment
opportunity set on firm value. Effect of profitability and investment opportunity set
on dividend policy. The effect of profitability and investment opportunity set on
firm value with dividend policy as an intervening variable. And the effect of
dividend policy on the value of the company. The population in this study is is a
manufacturing company of 142 companies. The sample in this study many as 42
companies that met predetermined sampling characteristics. The analysis
technique used in this study is the path analysis using the SPSS program. The
results of this study indicate that profitability has a significant effect on firm
value. IOS has a negative and significant effect on firm value. Profitability does
not have a significant effect on dividend policy. IOS has a negative and significant
effect on dividend policy. Dividend policy mediates the effect of profitability on
firm value. Dividend policy mediates negatively the effect of IOS on company
value. Dividend policy has a significant effect on firm value.