PENGARUH UKURAN PERUSAHAAN DAN STRUKTUR MODAL TERHADAP KEBIJAKAN DIVIDEN DAN NILAI PERUSAHAAN

Abstract

This study is aimed to examine and to find out the influence of firm size and capital structure to the firm value by using dividend policy as the intervening variable. The population is all manufacturing companies which are listed in Indonesia Stock Exchange (IDX) in 2012-2016 periods. The sample collection technique has been done by using purposive sampling so that 16 samples of manufacturing companies which meet the criteria have been selected as the research samples. Statistical method which has been used in this research is descriptive statistic with path analysis method as the analysis technique. The result shows that firm size does not give any influence to the dividend policy, capital structure gives positive influence to the dividend policy. Firm size gives negative influence to the firm value, capital structure gives positive influence to the firm value, and dividend policy give positive influence to the firm value. This result shows that dividend policy cannot mediate the influence of firm size to the firm value but dividend policy can mediate the influence of capital structure to the firm value.
Keywords: firm value, firm size, capital structure, and dividend policy