Abstract
ABSTRACT The purpose of this study is to examine the factors that affect the value of the company in the property and real estate sub-sector companies at IDX. The method in this research is quantitative. Secondary data in the form of annual financial reports from 8 Property & Real Estate Sub Sector Companies are the data used. Research variables are Dividend Pay out Ratio / DPR (X1), Cash Effective Tax Rates / Cash ETR (X1), and Firm Value / Q (Y). The data analysis method used is path analysis. The result of model 1 test states that dividend policy (DPR) has no effect on Q with a significant value (-0.301> 0.212) and tax avoidance (Cash ETR) has an effect on Q where the value is significant (-0.023> 0.034). The results of model 2 test explain that dividend policy (DPR) affects tax avoidance (Cash ETR) with a significance value (0.046> 3.95). Based on the findings from the research, it can be concluded that the presence of tax avoidance completely mediates the effect of dividend policy on firm value.
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