PENGARUH DER, TATO, FIRM SIZE TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DEVIDEN SEBAGAI VARIABEL INTERVENING (Case Study at Manufacturing Companies Industry Basic Chemistry and the Period 2011-2015)

Abstract

This research aims to analyze the influence of DER (Debt to Equity Ratio), TATO (Total Assets Turnover), Firm size (Stock size) to Stock Price with Dividend Policy as Intervening Variable. The population in this research is 65 manufacturing companies of basic and chemical industry sector in Indonesia during the period 2011 to 2015. The sample selection is done by purposive sampling method, resulting 15 Manufacturing Companies of basic industry sector and chemical to be sampled in this research.
Analytical techniques used in this study are 1) Financial Analysis, 2) Classic Assumption Test consisting of Normality Test, Heteroskedastisitas, and Multikolinearitas, 3) Multiple Regression Analysis and 4) Path Analysis (Path Analysis) to determine the influence of direct and indirect given the independent variable to the dependent variable through the intervening variable.The results of this study indicate that 1) DER has no direct or indirect effect on stock price, 2) TATO has a significant negative effect indirectly to Share Price, 3) Firm Size has positive significant effect on Stock Price.
Keywords: DER, TATO, Firm Size, Stock Price, Devidend Policy