PENGARUH PROFITABILITAS, KEPUTUSAN INVESTASI, UKURAN PERUSAHAAN DAN PERTUMBUHAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DEVIDEN SEBAGAI VARIABEL INTERVENING

(STUDI EMPIRIS PADA PERUSAHAAN PROPERTY DAN REAL ESTATE DI BURSA EFEK INDONESIA PERIODE 2013 – 2017)

Abstract

This study aims to analyze the effect of variable profitability, investment decisions, firm size and company growth on the value of the company with dividend policy as an intervening variable. The data used is the publication of financial statements of property companies listed on the Indonesia Stock Exchange for the period 2013 - 2017. The researcher used a purposive sampling technique and a sample of 15 (fifteen) companies selected on the Indonesia Stock Exchange. To answer the research problem, data were analyzed using multiple regression analysis and path analysis. The results of this study indicate that: 1) profitability does not affect the company's dividend policy, 2) investment decisions affect the company's dividend policy positively, 3) the size of the company does not affect the company's dividend policy, 4) the growth of company t does not affect dividend policy , 5) profitability directly has a positive influence on company value, 6) investment decisions directly have a positive influence on company value, 7) company size directly does not have a positive influence on firm value, 8) company growth directly affects the value of the company , 9) dividend policy directly does not affect the value of the company, 10) The existence of Direct Influence of Profitability, and Company Growth on Corporate Values ​​and Investment Decisions directly influence the value of the company with dividend policy as an intervening variable.