Abstract

This research method usus a quantitative approach with panel data analysis. The research sample consists of 8 Basic Materials sector companies selected based on the purposive sampling method. The data analysis technique utilized is panel data regression with the Fixed Effect Model (FEM) approach, as well as the Sobel test to measure the role of dividend policy as an intervening variable. The outcomes of the study show that (1) company size does not have a significant effect on company value, (2) profitability has a positive and significant effect on company value, (3) dividend policy has a positive effect on company value, (4) dividend policy does not mediate the relationship between company size and company value, but (5) dividend policy is able to mediate the effect of profitability on company value.

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