PENGARUH PROFITABILITAS DAN STRUKTUR KEPEMILIKAN PADA NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN

The company in Indonesia was established with the aim to earn profits and increase the value of the company. Therefore, the purpose of this study is to analyze the influence of profitability, ownership structure, and dividend policy on firm value. The research data from financial statement and annual report of companies classified in the consumer goods industry sector listed on the Indonesia Stock Exchange period 2011 to 2016. Data analysis was performed using path analysis. The results showed that variable profitability and dividend policy had a significant effect on firm value, while the ownership structure has no effect on firm value. The dividend policy variable is able to moderate the effect of profitability on firm value, but is unable to moderate the influence of the ownership structure on firm value. Keywords: firm value, profitability, ownership structure, dividend polic