PENGARUH LIKUIDITAS, LEVERAGE DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN

Abstract

This research airned to find out and analyze the effect of liquidity, leverage, and profitability on the firm value with divided policy as the moderated variable of food and beverages companies which were listed on Indonesia stock exchange 2014-2017. The sampling collection technique used purposive sampling, while, the population was food and beverage on Indonesia Stock exchange 2014-2017. In line with, there were ten manufacturing companies, as simple, in which the collection based on criteria given. In addition the data analysis technique used multiple linier regression and moderated regressions analysis with SPSS (Statistical Product and Service Solution) version 20. The research result concluded CR, ROA and DER had significant effect on the firm value. Likewise, the dividend policy was able to moderated the effect of CR, ROA ,and DER on the firm value of the Food and Beverage manufacturing companies which were listed on Indonesia stockExchange 2014-2017. In addition, the amount of coefficient determination (R2) was 95,7%. It meant, PBV variable was affected by CR,ROA, DER, CR*DPR, ROA*DPR, DER*DPR. On the other hand, the rest was 4,3% influence by other variables
Keywords: current ratio, return on assets, debt to equity ratio, firm value, dividend policy.