This study aims to examine the effect of Return On Equity, Debt Equity Ratio,
Size (the size of the company) to Corporate Value with Dividend Payout Ratio as
intervening variable at manufacturing company. Data analysis is performed on
manufacturing companies listed on indonesia stock exchange period 2013-2016. The
sample in this research using Purposive Sampling method so that got sample in this
research using purposive sampling method so that got sample as many as 34 company.
The result of data analysis using two-stage regression shows the Return On Equity,
Company Size have a positive and significant effect to Dividend Pay Out Ratio , Debt
Equity Ratio have positive and not significant to Dividend Payout Ratio. Return On
Equity, Dividen Payout Ratio, Company Size has positive and significant effect to
Corporate Value, Debt Equity Ratio has negative and significant effect to Corporate
Value. Meanwhile sobel test result showed the Dividend Payout Ratio was able to
mediate the relationship between Return On Equity of the corporate value, but Dividen
Payout Ratio can not mediate the relationship between Debt Equity Ratio, Company Size
to Value Of Firm.