Pengaruh Profitabilitas, Leverage, Likuiditas, Free Cash Flow terhadap Nilai Perusahaan dengan Kebijakan Dividen sebagai Moderating pada Perusahaan Industri Dasar dan Kimia yang Terdaftar di Bursa Efek Indonesia Periode 2017-2021

Abstract

The research aims to examine and analyse the effects of Profitability, Leverage, Liquidity, and Free Cash Flow on Company Value with Dividend Policy as Moderating Variable. The population comprises 66 companies in the Sector of Basic and Chemical Industry listed on Indonesia Stock Exchange in the period 2017-2021 and 61 of them are taken as the sample using purposive sampling technique with 305 data observations obtained during the five year period. The data are analysed using panel data regression analysis and Eviews application program. The result indicates that Profitability, Leverage, Liquidity, and Free Cash Flow partially have positive and significant effects on Company Value. Meanwhile, the Dividend Policy, as moderating variable, cannot moderate the effects of Profitability, Leverage, Liquidity, and Free Cash Flow on Company Value.