PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Studi Empiris Pada Perusahaan Manufaktur sub sektor Dasar dan Kimia yang Terdaftar di BEI Periode 2013-2016)

The purpose of this study is to analyze: (1) The effect of profitability on firm value. (2) Effect of profitability on dividend policy. (3) Effect of dividend policy on firm value. (4) Effect of profitability on firm value through dividend policy. This type of research is the study of causality. The sample of 57 basic and chemical sub-sector manufacturing companies listed on the Indonesia Stock Exchange, was selected by purposive sampling technique. Research data from www.idx.co.id (2013-2016). The analysis technique used is Path Analysis with SPSS 21, and hypothesis testing using t test. The results of these results, namely: (1) Profitability significantly affects the value of the firm. (2) Profitability proved to have no significant effect on dividend policy. (3) dividend policy is proven to have no significant effect on firm value. (5) dividend policy cannot mediate the effect of profitability firm value.
Keywords : Firm Value, profitability, dividend policy.