The Moderating Effect of Corporate Governance on the Relationship between Dividend Policy, Capital Structure, and Firm Value: Evidence from Indonesian Manufacturer Companies
European Journal of Molecular & Clinical Medicine,
2020, Volume 7, Issue 3, Pages 4402-4412
AbstractThis study aims to determine The Moderating Effect of Corporate Governance on the Relationship between Dividend Policy, Capital Structure, and Firm Value. This research uses samples of secondary data of 64 companies after purposive sampling, which was obtained from manufacturing companies on the Indonesia Stock Exchange (BEI) between periods of 2014-2018. This study uses the inferential analysis method using WarpPLS Software. This study found that there is a significant positive relationship between dividend policy and firm value. On the other hand, there is no significant positive relationship between capital structure and firm value. The corporate governance variable shows a significant moderating effect between dividend policy on firm value and an insignificant moderation effect between capital structure and firm value. The effect of corporate governance as a moderator is one of the authenticity of this study.
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