The Role Of Dividend Policy In Mediating The Effect Of Free Cash Flow On The Value Of Coal Companies In Indonesia

Abstrak

This study research the role of dividend policy in mediating the effect of free cash flow on the value of coal companies in Indonesia from 2015 to 2024. This type of research is a verification study using a purposive sampling technique. The population in this study is 20 coal companies and a sample is 15 coal companies. The data used are secondary data obtained from annual financial reports and historical data on stock price movements. The results of this study indicate that free cash flow affects dividend policy. Furthermore, free cash flow and dividend policy affect firm value. This study also includes dividend policy as a mediating variable between free cash flow and firm value and the results are that dividend policy is able to mediate the effect of free cash flow on firm value