Title:
FINANCIAL PERFORMANCE AND FIRM VALUE THROUGH DIVIDEND POLICY (Cases on Mining Company in Indonesia)

Authors:
Vita Annisaa Ratnasari, Sutrisno, Indonesia

Abstract:

This study aims to determine and analyze the effect of liquidity, leverage, and profitability simultaneously and partially on firm value with dividend policy as a moderating variable. This research was conducted at mining companies listed on the Indonesia Stock Exchange for the period 2015-2019. The population in this study amounted to 47 companies. The sample selection used the purposive sampling technique and obtained a sample of 13 companies with 5 years of observation to obtain 65 research data. The method of testing the hypothesis in this study uses a panel data regression model with the Random Effect Model approach and for testing the moderated variables using the Moderated Regression Analysis (MRA) model. The data analysis of the two models uses the Eviews program version 10. The results show that liquidity has a significant and negative effect on firm value, leverage has a significant and negative effect on firm value, and profitability has a significant positive effect on firm value, and dividend policy is not able to moderate the relationship between liquidity, leverage, and profitability on firm value.