The Effect of Financial Performance on Company Value: The Moderating Role of Dividend Policy

G. M. Djoko Hanantijo, Alvira Vaniasari

Abstract: Testing whether there is an effect of financial performance on company value with dividend policy as a moderating variable is the aim of this study. The research method used was purposive sampling with a sample size of eleven Food and Beverages sub-sector companies in Indonesia during the 2016-2021 period. The data analysis technique used is linear regression analysis and Moderated Regression Analysis (MRA). The research results show that; ROE has a significant positive effect on PBV while CR has no significant effect on PBV. The DPR is not able to moderate the effect of ROE on PBV and the DPR is also unable to moderate the influence of CR on PBV.

Keywords: Financial Performance, Dividend Policy, Company Value, Profitability, Liquidity