This study aims to examine the effect of current ratio variables and institutional ownership on dividend payout ratio and the role of debt to equity ratio in mediating these effects. Sampling uses purposive sampling. Data is taken from the Indonesian Capital Market Directory (ICMD). The feasibility test of the model is done using multicollinearity test, test the coefficient of determination and significance test. The analysis method uses path analysis and single test. The results of this study indicate that the current ratio has a significant negative effect on the debt to equity ratio, the debt to equity ratio has a significant negative effect on the dividend payout ratio and the debt to equity ratio is able to mediate the effect of the current ratio on the dividend payout ratio. Keywords: current ratio, institutional ownership, debt to equity ratio and dividend payout ratio
The principal objective of the company is to build the worth of the company. The importance of company value because high company value will bring high investor growth. The worth of the company is also known as market capitalization, because if the company’s stock price increases, the value of company can bring the best developments for investors. The study is expected to analyze and test the effect of liquidity, firm size, profitability, and capital structure on firm value. The populace utilized in this study are Property and Real Estate companies recorded on the Indonesia Stock Exchange (IDX) in 2016-2020 with a final sample of 197. The sample method used in this research is multiple linear regression analysis use the IBM SPSS 26 program. The conclusion this is research simultaneously the variables of liquidity, firm size, profitability, and capital structure have an effect on firm value. While partially for liquidity variable has a negative effect in firm value, firm size and profitability have a positive effect on firm value, while capital structure has no effect on firm value.
<p>Penelitian ini bertujuan untuk mengujipengaruh variabel <em>return on equity, firm size, current ratio</em> dan <em>institutional ownership </em>terhadap <em>dividend payout ratio</em> dengan <em>debt to equity ratio </em>sebagai variabel <em>intervening.</em> Pengambilan sampel menggunakan <em>purposive sampling. </em>Data diambil dari <em>Indonesian Capital Market Directory </em>(ICMD). Uji kelayakan model menggunakan uji multikolinieritas, uji koefisien determinasi dan uji signifikansi. Teknk analisis menggunakan analisis jalur dan <em>sobel test.</em> Hasil penelitian ini menunjukkan bahwa <em>current ratio </em>dan <em>institutional ownership</em> berpengaruh negatif signifikan terhadap <em>debt to equity ratio, firm size</em> dan <em>current ratio </em>berpengaruh positif signifikan terhadap <em>dividend payout ratio, debt to equity ratio </em>berpengaruh negatif signifikan terhadap<em> dividend payout ratio </em>serta <em>debto equity ratio </em>mampu memediasi pengaruh <em>current ratio </em>terhadap <em>dividend payout ratio </em>dan pengaruh <em>institutional ownership </em>terhadap dividend <em>payout ratio.</em></p><p><em><br /></em></p><p><em><em>The aimed of this study is examine the effect of variable return on equity, firm size, current ratio and institutional ownership toward dividend payout ratio with debt to equity ratio as an intervening variable. Sampling using purposive sampling. Data taken from Indonesian Capital Market Directory (ICMD). The test of feasibility models using multicoliniarity test, coefficient determination test and test of significance. The analysis technique using path analysis and sobel test. The result of this study indicate that the current ratio and institutional ownership have significant negative effect on debt to equity ratio, firm size and current ratio have significant positive effect on dividend payout ratio, debt to equity ratio has significant negative effect on dividend payout ratio and the debt to equity ratio capable of mediating influence current ratio toward dividend payout ratio and the effect of institutional ownership toward dividend payout ratio.</em></em></p>
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