PERAN KEBIJAKAN DIVIDEN DALAM MEMEDIASI PENGARUH PROFITABILITAS DAN LEVERAGE TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR
Abstrak
This study aims to determine the significance of the influence profitability, leverage and dividend policy on stock prices and to determine the significance of the influence profitability and leverage on dividend policy. This research was conducted at manufacturing company listed in Indonesia Stock Exchange period 2012-2014. The number of samples used are 22 companies, data collection method used is purposive sampling. This research uses path analysis technique (path analysis). Result of analysis find profitability and dividend policy have a significant positive effect to stock price. Profitability has a significant positive effect on dividend policy, while leverage has negative but not significant effect on dividend policy and stock price. Dividend policy is not able to mediate the influence of profitability on stock price and dividend policy is not able to mediate the effect of leverage on stock price
Keywords: profitability, leverage, dividend policy and stock price