PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN DIMEDIASI KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

This research aimed to find out the effect of profitability and liquidity on the firm value which was
mediated with dividend policy at manufacturing companies listed on the Indonesia Stock Exchange.
This research was quantitative, meanwhile, the research data used secondary data. Moreover, the
research population used manufacturing companies listed on the Indonesia Stock Exchange in the
2016-2020 period with 146 companies. On the other hand, the research sample collection technique
used the purposive sampling technique, therefore it obtained 15 companies that fulfilled the research
criteria. In addition, the research analysis technique used Path analysis with the application program
of the SPSS 25 version. The research result concluded that profitability had a positive but
insignificant effect on the dividend policy, profitability had a positive and significant effect on the
firm value, liquidity had a positive and significant effect on the dividend policy, liquidity had a
negative and significant effect on the firm value, dividend policy had a positive and significant effect
on the firm value, dividend policy mediated the profitability which had a positive and significant
effect on the firm value, and dividend policy mediated the liquidity which had a negative and
significant effect on the firm value.