PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN LQ45 DI BURSA EFEK INDONESIA

The aim of this research is to analyses : (1) The effect of profitability on dividend policy. (2) The effect of profitability on firm value. (3) The effect of the profitability of the company's value through dividend policy. This type of research is the study of causality. Samples counted 18 companies included in the LQ 45, selected by purposive sampling technique. Research data from www.idx.co.id (2009-2013). The analysis technique used is applied Path Analysis with SPSS 19 , and hypothesis testing using t test. Result of from this result, that is : (1) ROA proven significant positive effect on dividend policy. (2) ROE proved no significant positive effect on dividend policy. (3) profitability (ROA, ROE) proved significant positive effect on firm value. (4) Dividend policy (DPR) proved significant positive effect on firm value. (5) ROA shown to affect the value of the company 's dividend policy as internening variables. (6) ROE proven significant positive effect on the value of the dividend policy of the company but does not function as an intervening variable. Key words : Profitability, dividend policy, firm value