PENGARUH ALIRAN KAS BEBAS DAN SET KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI (Studi Empirik Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2016)
Abstract
The reaserch examine about the influence of free cash flow and set of infesmnet
opportunities toward company value with dividend policy as moderation variable the
reaserch aim is to find out a) the influence of free cash flow toward company value
b) the influence invesment opportunities set toward company value c) whether the
dividend policy is able to mederate the influence of free cash flow toward company
value d) whether the dividend policy is able to mederate the influence invesment
opportunities set toward company value, the reaserch sample is manufacturing
company which listed in indonesia stock exchange period of 2012-2016, sample
received trough sample survey based on criterion detemined thus, obtained 15
companies become sample data analysis use simple linier regression analysis on
hypothesis 1 and 2 later, double regression with modertated with moderated
regression analysis method (MRA) for hypothesis 3 and 4. Reaserch result shows
that free cash flow have a positive influence toward company value, invesment
opportunites set have possitive influence toward company value while moderated
regression analysis (MRA) shows that dividend policy weaken the influence between
free cash flow and company value, and dividend policy also weaken the influence
between invesment opportunites set and company value.
Keywords
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DOI: https://doi.org/10.21107/ee.v5i1.5438
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