PENGARUH PROFITABILITAS, SIZE, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN MANUFAKTUR DI INDONESIA DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING” Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2015

Abstract

This study examined the influence of Profitability, Size, and Liquidity to impact Company Value in Manufacturing Company In Indonesia With Capital Structure intervening variable. The population in this research is manufacturing companies listed in Indonesia Stock Exchange. During the years 2012-2015 amounted to 204 companies. The sample in this study is a manufacturing company amounted to 51 manufacturing companies during the years 2012-2015. The results of this study indicate that profitability (NPM) a significant negative effect on the DER. Size does not significantly influence the DER, CR a significant negative effect on the DER. Profitability (NPM) positive and significant impact on the PBV, Size positive and significant impact on the PBV, CR not significant to PBV, DER positive and significant impact on the PBV. The test results indicate that the effect of intervening statistically DER NPM may mediate the effect on firm value. The test results indicate that the effect of intervening statistically DER can not mediate the effect of the PBV Size. The test results indicate that the effect of intervening statistically DER may mediate the effect of CR on PBV.