The Effect Of Leverage And Profitabilitas On Company Value With Dividen Polici As An Intervening Variable
Abstract
Firm value is the investor's perception of the company which is often associated with stock prices. The higher the stock price of a company, the higher the company's value, the company's value is important because it can reflect the rate of return on investment from investors. This study aims to determine the effect of Leverage (XI) on profitability (X2) on Firm Value (Y) through dividend policy as an Intervening Variable (Z). The population in this study is the Property, Real Estate and Building Construction sector companies registered at BEL. The sample in this study was taken by purposive sampling technique, totaling 16 companies, the data analysis used was descriptive analysis and path analysis.
The results of this study indicate that leverage has a significant negative effect on firm value, profitability has a significant positive effect on firm value and dividend policy is able to mediate the relationship between profitability and firm value and cannot mediate the relationship between leverage and firm value.