This study aims to determine the effect of institutional ownership, profitability, debt policy on firm value with dividend policy as an intervening variable. The object of this study uses manufacturing companies listed on the Indonesia Stock Exchange. The data used are secondary data in the form of annual financial statements for the period 2015-2017. The sampling technique used in this study was purposive sampling. Data analysis techniques used in this study are descriptive statistics, classic assumption tests, multiple regression analysis, and sobel test. The results of the analysis show that profitability has a significant effect on dividend policy, while institutional ownership and debt policy have no significant effect on dividend policy. Profitability has a significant effect on firm value while institutional ownership, debt policy and dividend policy have no significant effect on firm value. Dividend policy is not able to mediate the influence of institutional ownership, profitability, and debt policy on firm value.