The Impact of Dividend Policy on Stock Prices With Profitability as Variable Mediation in Manufacturing Companies Listed in Indonesia Stock Exchange

摘要

This study aims to determine the impact of dividend policy on stock prices with profitability as a mediating variable on manufacturing companies listed on the Indonesia Stock Exchange. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange from 2014 to 2018 using secondary data. The sampling technique uses purposive sampling. The number of samples in this study were 370 samples (74 companies with 5 years of research). The data analysis method used is to use path analysis and sobel test on the SPSS 25 program. The results of the study indicate that dividend policy has a positive and significant effect on stock prices. Profitability has a positive and significant effect on stock prices. Dividend policy has a positive and significant effect on stock prices. Dividend policy has a positive and significant effect on stock prices with profitability as a mediating variable.