This study aims to determine the effect of capital structure, profitability, and
liquidity on firm value with dividend policy as a moderating variable. This study
was conducted at companies in the consumer goods industry sector on the
Indonesia Stock Exchange ( BEI ) during 2015-2019. The sampling technique
used in this study was purposive sampling method and obtained as many as 14
companies that met the criteria. Data is collected by taking financial reports or
annual reports published on the website www.idx.co.id, www.sahamok.com or
the company's website. The data analysis techniques used in this research are
descriptive statistics, classic assumption tests, multiple linear regression analysis
with moderating variables (absolute difference), model suitability or accuracy
testing, and hypothesis testing. The results showed that capital structure and
profitability have a significant positive effect on firm value, while liquidity had no
significant positive effect on firm value. Then, dividend policy was able to
moderate the relationship between capital structure, profitability, liquidity and
firm value.