THE EFFECT OF DEBT AND MANAGERIAL OWNERSHIP POLICIES ON COMPANY VALUE WITH DIVIDEND POLICY AS A MODERATION VARIABLE

This research aims to analyze the Effect of Debt Policy and Managerial Ownership on Firm Value with Dividend Policy as a Moderating Variable. This type of research is an associative quantitative type with the data used as secondary data and uses a panel data regression analysis method with the help of Eviews 12 to obtain a comprehensive picture of the relationship between one variable and another. The population used is the Consumer Non-Cyclicals sector companies listed on the Indonesia Stock Exchange for the period 2019-2023 with a sample size of 10 companies for 5 years that meet the specified criteria from a total population of 125 companies and using purposive sampling as a sampling method. The results of the study show that debt policy and managerial ownership simultaneously affect firm value. Partially, debt policy has a negative effect on firm value, while managerial ownership affects firm value. Dividend policy cannot moderate the effect of debt policy on firm value, while dividend policy can moderate managerial ownership on firm value.