The Effect of Capital Structure And Profitability On Firm Value With Dividend Policy As Intervening Variable

Sheila Puteri Diliyanti , Meina Wulansari Yusniar

Capital Structure, Profitability, Dividend Policy, Firm Value

One of the supporting factors for economic growth of the country is the role of manufacturing sector. The manufacturing sector grows quietly fast and it cannot be separated from the factors that influence the firm value, which is including capital structure, profitability and dividend policy. This study aims to analyze the effect of capital structure and profitability on firm value with dividend policy as an intervening variable in manufacturing companies that listed on the Indonesia Stock Exchange (IDX). The research method that used in this study is path analysis to analyze some research variables with direct and indirect effect. Population of this study are all manufacturing companies that listed on the Indonesia Stock Exchange (IDX) for the period of 2013 - 2017 which have the needed variables in the study, with the sample of 20 companies that selected using purposive sampling method. The research hypothesis was tested by Partial Least Square (PLS) analysis technique which processed using the SmartPLS 3 program. The results of the study show that there is an effect of profitability on firm value and the effect of profitability on dividend policy. The results also show that there is no effect of capital structure on firm value, capital structure on dividend policy, dividend policy on firm value, capital structure on firm value through dividend policy as an intervening variable, and there is no effect of profitability on firm value with dividend policy as intervening variable.

Published Paper   E-Certificate

"The Effect of Capital Structure And Profitability On Firm Value With Dividend Policy As Intervening Variable", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.5, Issue 2, page no.427 - 436, February-2020, Available :https://ijsdr.org/papers/IJSDR2002073.pdf

Volume 5 Issue 2, February-2020

Pages : 427 - 436

Paper Reg. ID: IJSDR_191411

Published Paper Id: IJSDR2002073

Downloads: 000347578

Research Area: Management

Country: Banjarmasin, Indonesia, Indonesia

Published Paper PDF: https://ijsdr.org/papers/IJSDR2002073

Published Paper URL: https://ijsdr.org/viewpaperforall?paper=IJSDR2002073

DOI: http://doi.one/10.1729/Journal.23143

ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJSDR(IJ Publication) Janvi Wave

This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition