ANALISIS FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN DENGAN DIVIDEND PAYOUT RATIO SEBAGAI VARIABEL INTERVENING (Studi pada Perusahaan Manufaktur yang Terdaftar di Bei Tahun 2011-2015)

Abstract

This study aims to examine and analyze the factor that influence firm value with dividend payout ratio (DPR) as an intervening variable in manufacturing companies that listed on Indonesia Stock Exchange 2011-2015. The population in this study are all companies manufacturing that listed on Indonesia Stock Exchange 2011-2015. Sampling was done by using purposive sampling methode so in this study has 190 companies of sample. Classic assumption test include normality test, multicollinearity test, autocorrelation test and heteroscedasticity test. The data analysis using by Multiple Linier Regression with SPSS, path analysis and sobel test. Result of this study has found that in the first model variable ROE and size has positive significant effect on DPR while DER has negatif no significant effect on DPR. In the second model has found that ROE, DER, size and DPR has positive significant effect on firm value. DPR could significant mediating ROE and size relation on firm value but not for DER relation on firm value.