ANALISIS PENGARUH PROFITABILITAS, LEVERAGE, LIKUIDITAS, AKTIVITAS, DAN INVESTMENT OPPORTUNITY SET TERHADAP NILAI PERUSAHAAN, KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI (Studi Pada Perusahaan Non Keuangan yang Terdaftar di Saham LQ 45 periode tahun 2013-2017)

Abstract

ABSTRACT The firm value has the most important role for the progress of a company. In achieving the company's value goals, investors will trust their capital to experts such as company managers or commissioners. This study aims to analyze the effect of profitability (Return On Asset), leverage (Debt to Equity Ratio), liquidity (Current Ratio), activity (Total Assets Turnover), IOS (Market Value to Book Value of Assets) to the measured firm value with Price to Book Value with a dividend policy (Dividend Payout Ratio) as a moderating variable. The population as 69 non-financial companies listed in LQ 45 stock Index from 2013 to 2017, but the sample using 17 companies with the determination of using the purposive sampling method. Research data is obtained from the company's financial statements in the Indonesia stock exchange or Idx.co.id for the period 2013 to 2017. This study shows that Return on Equity, Debt to Equity Ratio, Total Asset Turnover, Market Value to Book Value of Asset have a positive and significant effect on Price To Book Value. However, the Current Ratio has a positive and not significant effect on Price To Book Value. For the dividend payout ratio, which moderates the positive effect of Return on Equity, and Market Value to Book Value of Assets on firm value. Keywords: Return On Equity, Debt to Equity Ratio, Current Ratio, Total Asset Turnover, MVBVA, Dividend Payout Ratio, Price to Boob Value.