Published date: Jan 24 2024

Journal Title: KnE Social Sciences

Issue title: The 6th International Research Conference on Economics and Business (6th IRCEB)

Pages: 658–667

DOI: 10.18502/kss.v9i4.15109

Niswah BarorohAccounting Department, Faculty of Economics, Universitas Negeri Semarang

Lina FarkhaniAccounting Department, Faculty of Economics, Universitas Negeri Semarang

Muhammad KhafidAccounting Department, Faculty of Economics, Universitas Negeri Semarang

dan Muhammad Ishlasul AmalAccounting Department, Faculty of Economics, Universitas Negeri Semarang

This research aims to analyze the influence of a company’s growth, profitability, and free cash flow on the company’s value and the role of dividend policy in moderating this relationship. The research population is 159 manufacturing companies listed on the Indonesia Stock Exchange from 2018-2020. The sample is selected using a purposive sampling technique. There are 44 companies as the sample with 132 units of analysis. The data analysis uses Moderated Regression Analysis (MRA) supported by Eviews 9 tool. The results show that growth and profitability influence the company’s value, while free cash flow does not affect the value. A dividend policy can weakly moderate the relationship between a company’s growth and value, but it cannot moderate profitability and free cash flow to the company’s value.

Keywords: free cash flow, dividend policy, company value; company growth; profitability

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