PENGARUH CURRENT RATIO RETURN ON ASSET, DEBT EQUITY RATIO DAN INSTITUTIONAL OWNERSHIP TERHADAP PRICE BOOK VALUE DENGAN DIVIDEND PAYOUT RATIO SEBAGAI VARIABEL INTERVENING (Studi Pada Perusahaan Non Keuangan yang Terdaftar di Bursa Efek Indonesia PadaTahun 2011-2015)

Abstract

ABSTRACT In assess the situation stock market in a company, the company's value is a factor that can assess for potential investors who want to invest first look at how much the value of the company, financial statements of the company useful to investors to know the prospects of profit in the future and how the state of the company's future which will come. Dividend income is one of the main tujunan an investor if you want to to embed shares in a company. The object of this research is a non-financial company, which is listed in the the Indonesia Stock Exchange in 2011 until 2015. The variables used in this study is a current ratio, return on assets, debt equity ratio, institutional ownership as an independent variable, price-book value as the dependent variable and dividend payout ratio as an intervening variable. The research method used is a path analysis using SPSS software. The results of the study, found that return on assets to the dividend payout ratio, return on assets against price-book value, debt equity ratio of the price-book value, and institutional ownership on price-book value was positive significant. The results of of this research also states that the dividend payout ratio can mediate the effects of return on assets and Institutional Ownership on price-book value Keyword: financial ratios, Path Analysis, Sobel Test