The Influence of Profitability and Liquidity on Company Value with Dividend Policy as a Moderating Variable (Case Study of Manufacturing Companies Listed on the Indonesian Stock Exchange 2019 - 2023)

Pengaruh Profitabilitas dan Likuiditas terhadap Nilai Perusahaan dengan Kebijakan Dividen sebagai Variabel Moderasi (Studi Kasus Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia 2019 - 2023)

Abstract

This research aims to determine the effect of profitability and liquidity on company value with dividend policy as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2019-2023. The sample collection technique in this research used the purposive sampling method so that from a population of 218, a sample of 36 companies was obtained. The analytical method used in this research is Panel Data Regression analysis using Econometric Views (Eviews) software version 12. The result of this research shows that profitability does not have a significant effect on company value with a probability value of 0,8278 > 0,05, and liquidity has a significant effect on company value with a probability value of 0,000 < 0,05, apart from that, dividend policy is able to moderate profitability on company value with a probability value of 0,0091 < 0,05, while dividend policy is not able to moderate liquidity on company value with a probability value of 0,3178 < 0,05.