PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG, KEBIJAKAN DIVIDEN PADA NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI PEMODERASI

Abstract

This research aimed to examine the effect of profitability, debt policy, and dividend policy on firm value with
managerial ownership as moderating variable of Food and Beverages manufacturing companies which were
listed on Indonesia Stock Exchange (IDX) during 2014-2018. There search was quantitative. While, the data
collection technique used purposive sampling, in which the sample was based on criteria given. In line with,
there were 23 Food and Beverages manufacturingcompanies as sample. Thus, the total sample was 80.
However, as there were outlier data, they became 73. Moreover, the data analysis technique used multiple
linear regressions analysis technique. Based on there search result, it concluded profitability had positive effect
on firm value. Likewise, dividend policy had positive effect on firm value. On the other hand, debt policy did not
have positive on firm value. Furthermore, the managerial ownership was able to moderate the negative effect of
profitability on finn value. Meanwhile, managerial ownership was not able to moderate and had negative effect
on debt policy, and dividend policy on firm value.
Keywords: profitability, debt policy, dividend policy, firm size, managerial ownership