Pengaruh Ukuran Perusahaan dan Keputusan Pendanaan Terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Mediasi (Studi Empiris Perusahaan Manufaktur di Bursa Efek Indonesia pada Tahun 2011-2014)

Abstract

The purpose of this research is to examine the influence of firm size, fund decision on firm value with profitability as mediating variable. The proxy is PBV for firm value, Ln of sales for firm size, DER for fund decision and ROA for profitability.This research is quantitative research with secondary data. The population in this research totalled 128 manufacturing companies. The technique of sampling in this study by using purposive sampling so obtained sample of 123 companies. The research period is 4 years so that the retrieved data count as many as 492. Data analysis technique is path analysis. Path analysis is use to determine the effect of direct and indirect influence. In this study the profitability is a mediating variables, which are used to mediate between influence firm size and fund decision on firm value. The result of this test for direct effect showed that fund decision and profitability had significantly positive effect to firm value, while firm size does not effect to firm value. Firm size had significantly positive effect to profitability while fund decision does not effect to profitability. The result of this test for indirect effect showed that profitability is able to mediate the influence of firm size on firm value while the influance of fund decision on firm value, profitability unable to mediate the influance.