Analyzing The Influence of Leverage, Liquidity, and Profitability on Firm Value with Dividend Policy as an Intervening Variable

Veronika Maria  Cynthia; Stefanus Dimas Ryan Saputro

Authors

Veronika Maria Cynthia Universitas Pelita Harapan
Stefanus Dimas Ryan Saputro Universitas Pelita Harapan

Keywords:

Leverage, Liquidity, Profitability, Company Value, Dividend Policy

Abstract

This research aims to examine the effect of leverage, liquidity and profitability on company value which is mediated by dividend policy. The research was conducted using secondary data from 43 companies in Indonesia which are included in the Industrials industry category on S&P Capital IQ during the 2018-2022 period. The sample collection technique in this research used a purposive sampling method. Leverage in this study is measured by the debt to equity ratio, liquidity is measured using the current ratio proxy, profitability is measured using the return on assets proxy, company value uses the price to book value proxy, and dividend policy is measured by the dividend payout ratio proxy. This research found that liquidity has no influence on dividend policy, while profitability.

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