PENGARUH PROFITABILITAS, LEVERAGE DAN ASIMETRI INFORMASI TERHADAP NILAI PERUSAHAAN DENGAN CASH HOLDINGS SEBAGAI VARIABEL INTERVENING

This study aims to examine: (1) the effect of profitability on cash holding, (2) the effect of leverage on cash holding (3) the effect of information asymmetry on cash holding. (4) the effect of profitability on firm value (5) the effect of leverage on firm value, (6) the effect of information asymmetry on firm value, (7) the effect of cash holding on firm value. (8) the effect of profitability on firm value through cash holding. (9) the effect of leverage on firm value through cash holding, and (10) the effect of information asymmetry on firm value through cash holding. The population in this study are property, real estate and building construction companies listed on the Indonesia Stock Exchange in 2015-2019. The sampling technique was purposive sampling method. Based on the predetermined criteria and reduced by outliers, 242 samples were obtained. This study used panel data and multiple linear regression analysis techniques and causal step strategy to assess the mediator variables on the relationship between the dependent and independent variables. The results of this study indicate that: (1) profitability has a significant positive effect on cash holding, (2) leverage has no significant effect on cash holding, (3) information asymmetry has no significant effect on cash holding, (4) profitability has no significant effect on firm value. (5) leverage has a significant positive effect on firm value (6) information asymmetry has no significant effect on firm value, (7) cash holding has a significant positive effect on firm value. (8) profitability has a significant positive effect on firm value through cash holding. (9) leverage does not have a significant effect on firm value through cash holding. (10) information asymmetry does not have a significant effect on firm value through cash holding.