<![CDATA[Abstract. This study aimed to analyze the influence of investment opportunities, leverage on the dividend policy and the value of the company on the companies listed in Indonesia Stock Exchange. Variables used in this research is an investment opportunity, leverage, dividend policy and the value of the company. The population used in this study are manufacturing companies listed in Indonesia Stock Exchange 2008-2012 period. The samples in this study using purposive sampling with a sample of 170 manufacturing firms. Based on pre-defined criteria, only 34 companies were eligible to be sampled. Statistical analyzes were used to examine the effect of investment opportunities, leverage on the dividend policy and the value of the company is the analysis of pathways that can explain the relationship between the variables, both directly and indirectly. The results of this study indicate that the investment opportunity to have a direct influence on the value of the company, but the investment opportunities through dividend policy has no effect on firm value. Leverage does not have a direct effect on firm value, but leverage through dividend policy has no effect on firm value. Dividend policy has no direct effect on firm value.Keywords: investment opportunities, leverage, dividend policy and the value of the company.]]>
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