Abstract :
ABSTRACT
This study aims to prove empirically the factors that influence dividend policy. The population used in this study are all companies listed on the Indonesia Stock Exchange 2014 - 2016, yaiu as many as 628 companies. The sample is determined by purposive sampling technique that aims to obtain a representative sample in accordance with predetermined criteria. The samples obtained in this study are as many as 14 companies. There are 4 variables used in this research, namely the value of firm (Price too book value) as dependent variable, DPR (dividend payout ratio), as independent variable, CR (cash ratio), and DER (debt equity ratio) as moderation variable. Hypothesis testing using multiple linear regression analysis. The results of this study indicate that dividend policy variables have a positive effect on firm value, and variable cash ratio, debt policy variable to moderate the influence of dividend policy variable to firm value.
Keywords: Price to Book Value (PBV), Dividend Payout Ratio (DPR), Cash Ratio (CR), Debt Equity Ratio (DER).