Pengaruh Inflasi, Financial Risk Dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi (Studi Empiris Pada Perusahaan Sektor Properti yang terdaftar Di BEI Periode 2019-2023)

This study analyzes the effect of inflation, financial risk, and profitability on firm value with dividend policy as a moderating variable in property sector companies listed on the IDX for the 2019-2023 period. The sample consisted of 12 companies with a total of 60 observations. Data analysis using multiple linear regression and Moderated Regression Analysis (MRA) tests. The results showed that individually and simultaneously, inflation, financial risk, and profitability had no significant effect on firm value, with a significance value above 0.05 each. In addition, dividend policy is also unable to moderate the relationship between these three variables and firm value. In conclusion, inflation, financial risk, and profitability are not the main determinants of firm value in the property sector, as companies may already have strategies in place to deal with economic changes. Dividend policy also does not strengthen or weaken the relationship between these variables and firm value