PENGARUH PROFITABILITAS DAN KEBIJAKAN DIVIDEN PADA NILAI PERUSAHAAN: CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABEL PEMODERASI

Abstract

This research aimed to examine the effect of profitability as measured by Retrun On Equity (ROE) and dividend
policy as measured by Dividend Payout Ratio (DPR) on firm value, with corporate social responsibility (CSR) as
moderating variable. While, the population was property and real estate manufacturing companies, which were
listed on Indonesia stock exchange. Moreover, the data were secondary which taken from Indonesia stock
exchange (BEI) which can be accesed through a web page (www.idx.co.id). Furthermore, the research was
quantitative. Additionaly, the data collection technique used purposive sampling, in which the sample was based
on criteria given by the researcher. In line with, there were 21 companies during 2016-2018 as sample. In
addition, the data analysis technique used multiple linear regression. According to the research result, it
concluded as follows: (a) Retrun On Equity had positive effect on firm value, (b) Dividend Payout Ratio had
positive effect on firm value, (c) Corporate Social Responsibility did not moderate Retrun On equity on firm
value, and (d) Corporate Social Responsibility did not moderate Dividen Payout Ratio on firm value.
Keywords: retrun on equity, dividend payout ratio, corporate social responsibility, farm value