PENGARUH UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN

Abstract

This research is meant to examine the influence of firm size and profitability to the firm value through the dividend policies of manufacturing companies. The population is all manufacturing companies which are listed in Indonesia Stock Exchange (IDX) in 2012-2015 periods. The sample collection technique has been done by using purposive sampling so 15 manufacturing companies which have met the research sample criteria have been obtained as samples. The statistic method has been carried out by using desciptive statistics and path analysis which has been applied to test directly the firm size and profitability to the firm value, and the indirect influence of firm size and profitability to the firm value through dividend policy. The result of the research shows that firm size has negative and significant influence to the firm value, profitability has positive and significant influence to the firm value, and dividend policy has positive and significant influence to the firm value. Firm size has positive and significant influence to the dividend policy and profitability has positive and significant influence to the dividend policy. This result describes that dividend policy mediates the influence of firm size and profitability to the firm value.
Keywords: firm size, profitability, firm value, dividend policy