The Effect of Liquidity, Profitability, Capital Structure, Asset Growth, And Firm Size on the Firm Value with Dividend Policy as a Moderating Variable in Food and Beverage Sub-Sector of Manufacturing Companies Listed on the Indonesia Stock Exchange

Abstract

This study aims to determine the effect of Liquidity, Profitability, Capital Structure, Asset growth, and Firm size on the Firm value of Food and Beverage Sub-Sector Companies listed on the Indonesia Stock Exchange (IDX). The sampling method used is purposive sampling. The sample selected was 12 food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) from 2011-2020. The data used in the financial statements of each sample company was published through www.IDX.co.id and www.financeyahoo.com. The analytical method used in this study is a quantitative method, with classical assumption testing and statistical analysis, namely multiple linear regression analysis using a random-effects model with the help of Eviews10. The results of this study indicate that Liquidity and Capital structure have a positive and insignificant effect on firm value partially. Profitability, Asset growth, and Firm size have a positive and significant impact on firm value partially. Dividend policy cannot moderate the influence of the relationship between Liquidity, Profitability, Capital Structure, Asset growth, and Firm size on Firm Value. Keywords: liquidity, profitability, capital structure, firm growth, firm size, dividend policy, firm value.