PERAN PROFITABILITAS DALAM MEMODERASI PENGARUH STRUKTUR MODAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Mislia Ambar Sari · Lela Nurlaela Wati

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Corporate Finance and Governance Financial Analysis and Corporate Governance Financial Reporting and Valuation Research

Abstract

This study aims to determine the effect of capital structure and dividend policy on firm value by moderating profitability in food & beverages companies. Samples are Food & Beverages Sub Sector manufacturing companies listed on the Indonesia Stock Exchange in the 2014-2018 period, which were taken using purposive sampling technique. The analysis technique used is a moderation regression analysis (MRA) using eviews 9. The results of hypothesis testing show that the capital structure variable (DER) has a positive and significant effect on firm value (PBV), dividend policy (EPS) has a positive and significant effect on firm value ( PBV), profitability (ROA) strengthens the effect of capital structure (DER) on firm value (PBV), but profitability (ROA) does not strengthen the effect of dividend policy (EPS) on firm value (PBV). These results indicate that the higher the capital structure financed by debt and the greater the dividends distributed to investors, the higher the firm value.Keywords: Capital Structure, Dividend Policy, Profitability, Firm Value

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2022Dasar-Dasar Manajemen Keuangan 2016Pengaruh Kebijakan Dividen, Likuiditas, Profitabilitas dan Ukuran Perusahaan terhadap Nilai Perusahaan 2016Panduan praktis dasar analisa laporan keuangan 2016PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR 2013Pengantar Pasar Modal Indonesia 2012PENGARUH KEBIJAKAN DIVIDEN, KEBIJAKAN HUTANG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2005-2010 2008Go public strategi pendanaan dan peningkatan nilai perusahaan 2018EFEK MODERASI KEBIJAKAN DIVIDEN DALAM PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN MANUFAKTUR

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