Abstract
Firm value is the price that potential buyers are willing to pay when a company is sold. The value of this company is very important because it is a reflection of the company's performance that shows the prospects of the company in the future which is also a indicator of market valuation of the company as a whole. The purpose of this study is to determine the effect of profitability and dividend policy on firm value with capital structure as mediator. This research was conducted at Property and Real Estate Company listed on BEI. The number of samples taken as many as 14 companies from 42 companies listed during the period 2012-2016 with purposive sampling method. The analysis technique used is path analysis. Based on the results of the analysis found that profitability has a significant positive effect on capital structure, dividend policy has no significant positive effect on capital structure, profitability, dividend policy, and capital structure have a significant positive effect on firm value, and capital structure able to mediate between the effect of profitability on firm value but can not mediate the effect of dividend policy on firm value.
 Keywords: Profitability, dividend policy, capital structure, firm value
Highlights
Firm value is the price that potential buyers are willing to pay when a company is sold
Based on the results of the analysis found that profitability has a significant positive effect on capital structure, dividend policy has no significant positive effect on capital structure, profitability, dividend policy, and capital structure have a significant positive effect on firm value, and capital structure able to mediate between the effect of profitability on firm value but can not mediate the effect of dividend policy on firm value
International Journal of Business and Finance Management Research, 4: 80-101
Summary
Nilai perusahaan merupakan harga yang bersedia dibayar oleh calon pembeli apabila perusahaan dijual. Nilai perusahaan ini sangat penting karena merupakan cerminan dari kinerja perusahaan yang memperlihatkan prospek perusahaan di masa yang akan datang yang juga merupakan indikator penilaian pasar terhadap perusahaan secara menyeluruh. Tujuan penelitian ini adalah untuk mengetahui pengaruh profitabilitas dan kebijakan dividen terhadap nilai perusahaan dengan struktur modal sebagai pemediasi. Penelitian ini dilakukan di Perusahaan Property dan Real Estate yang terdaftar di BEI. Jumlah sampel yang diambil sebanyak 14 perusahaan dari 42 perusahaan yang terdaftar selama periode 2012-2016 dengan metode purposive sampling. Teknik analisis yang digunakan adalah analisis jalur (path). Berdasarkan hasil analisis ditemukan bahwa profitabilitas berpengaruh positif signifikan terhadap struktur modal, kebijakan dividen berpengaruh positif tidak signifikan terhadap struktur modal, profitabilitas, kebijakan dividen, dan struktur modal berpengaruh positif signifikan terhadap nilai perusahaan, dan struktur modal mampu memediasi antara pengaruh profitabilitas terhadap nilai perusahaan namun tidak dapat memediasi pengaruh kebijakan dividen terhadap nilai perusahaan
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
