The purpose of this study was to examine the effect of ownership structure
and dividend policy on firm value with debt policy as a moderating variable in the
manufacturing industry of the Indonesia Stock Exchange (IDX) in the period
2011-2017. The population in this study were all manufacturing industry
companies totaling 154 companies. The sampling technique used in this study was
purposive sampling. The sample used in this study amounted to 98 sample data
from the number of 14 companies that met the sample criteria during the period
2011-2017. Testing the hypothesis in this study using multiple linear analysis or
Moderate Regression Analysis (MRA).
The results of the study with multiple linear regression showed that the
managerial ownership structure (MO) had a negative and insignificant effect on
firm value (PBV). institutional ownership structure (INST) has a positive and
significant effect on firm value (PBV). Dividend Policy (DPR) has a negative and
significant effect on company value (PBV). While the analysis of moderating
variables with the interaction test method of moderated regression analysis
(MRA) shows that debt policy cannot moderate the effect of managerial
ownership structure (MO) on firm value (PBV), debt policy can moderate the
influence of institutional ownership structure (INST) on firm value ( PBV), debt
policy cannot moderate the influence of dividend policy (DPR) on company value
(PBV).