PENGARUH RENTABILITAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN KEPUTUSAN SAHAM BONUS SEBAGAI VARIABEL INTERVENING (Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2016)

Abstract

ABSTRACT
This study aims to determine the effect of profitability (ROA) and leverage
(DAR) on Corporate Value (Tobin'sQ) with Bonus Shares as Intervening Variable at
manufacturing companies listed in Indonesia Stock Exchange (IDX) period 2011-
2016. The type of research used is causal-comparative (causal-comparative
research). This research uses purposive sampling technique. The population used in
this study are all manufacturing companies listed in Indonesia Stock Exchange
(IDX) period 2011-2016 and produce 17 sample companies based on predetermined
criteria for one year and as many as 102 sample companies for six years. Data
analysis using Structural Equation Modeling (SEM) method. Based on the results of
research indicate that rentability and leverage have positive and significant effect to
company value while bonus stock does not have an effect on company value.
Profitability negatively affects bonus shares while leverage does not affect bonus
shares.
Keywords:
Profitability, Leverage, Bonus Shares and Corporate Values