Analisis Pengaruh Debt Equity Ratio dan Earning Per Share Terhadap Nilai Perusahaan dengan Kebijakan Dividen Sebagai Variabel Moderating pada Perusahaan Rokok yang Listed di BEI Tahun 2018-2020

The objective of this research are to know the direct effect of variable debt equity ratio, and earnings per share on firm value. In addition, this study aims to examine the effect of dividend policy in influencing the effect of debt equity ratio, and earnings per share on firm value. The theory that underlies this research is signal theory. The sample of this study is cigarette companies listed on the Indonesian stock exchange in 2018-2020. The sampling technique used was purposive sampling which resulted in a sample of 4 companies. This test uses SPSS version 22 software. Based on the results of the study, it shows that: (1) Debt Equity Ratio has a positive and significant effect on firm value, (2) Earning Per Share has a positive and significant effect on firm value, (3) Dividend Policy does not moderate the effect Debt Equity Ratio and Earning Per Share on firm value