PENGARUH CURRENT RATIO DAN DEBT TO EQUITY RATIO TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI

The purpose of this study are to analyze: 1) effect of current ratio on
firm value, 2) effect of debt to equity ratio on firm value, 3) effect of dividend
policy on firm value, 4) effect of current ratio on firm value with dividend
policy as moderation variables, 5 ) effect of debt to equity ratio on firm value
with dividend policy as moderation variables. This type of research is
empirical research conducted in real estate companies and properties
companye are listed in the Indonesian Stock Exchange in 2011-2014. A
sample of 42 companies with a total sampling technique. The type of data
used quantitative and qualitative data. Source data used secondary data.
Data collection technique used documentation. Analysis data used classical
assumption test, multiple linear regression, t-test, F-test, coefficient
determination and test the absolute difference. The results showed that
current ratio has positive and significant effect on firm value. Debt to equity
ratio has negative and significant effect on firm value. Dividend policy has
positive but not significant effect on firm value. Dividend policy does not
moderate the effect of the current ratio on firm value. Dividend policy does
not moderate the effect of the debt to equity ratio on firm value.
Keywords: current ratio, debt to equity ratio, dividend policy and firm value.