PENGARUH PROFITABILITAS TERHADAP FIRM VALUE DENGAN CAPITAL STRUCTURE SEBAGAI VARIABEL INTERVENING

Abstract

Firm value is the reflectionof theenhancementofthe numbers of company equity andcorporate debt. The
LQ 45 index is the value of market capitalism from the most liquid 45 stocks. This research is meant to
find out the influence of profitability, capital structure to the firm company and to find out the
influence of profitability to the capital structure, and to find out the influence of profitability to the
firm value with capital structure as the intervening variable. This research is causal research with
quantitative analysis. The population is 17 companies in LQ 45 groupin Indonesia Stock Exchange in
2011-2014 periods. The data source has been done by using secondary data. The analysis technique
has been done by using multiple regressions analysis and path analysis. The result of analysis shows
that (1) profitability has significant influence to the firm value, (2) capital structure has significant
influence to the firm value, (3) profitability has significant influence to the firm value, (4) profitability
has significant influence to the firm value and capital structure is not as the intervening variable.

Keywords:Profitability, Firm Value, Capital Structure.