The purpose of this research were to analyze the effect of managerial ownership, institutional ownership and debt policy of the fims value with dividend policy as moderation. Population on this research is all companies listed in IDX 2015-2017. This research sample selected by using the purposive sampling method, there are 228 sample. The analysis method of this research is multiple regression analysis and moderated regression analysis while hypothesis tested by using SPSS 25. The result of this research shows that: managerial ownership has negative effect on firm value. Institutional ownership has an effect on firm value. Debt policy has no effect on firm value. Dividend policy is able to moderated the relationship between managerial ownership and firm value. Dividend policy is able to moderated the relationship between institutional ownership and firm value. Dividend policy is not able to moderated the relationship between debt policy and firm value.

This study aimed to analyze dividend policy's effect in the proxy with Dividend Payout Ratio (DPR) and solvency in the proxy with Debt to Equity Ratio (DER) on Stock Returns of manufacturing companies listed on the Indonesia Stock Exchange from 2014 to 2018. Ratio analysis is one of the analyses used by investors to analyze a company's stock performance. This study used a quantitative method. The sampling technique used a purposive sampling method, and the sample was selected following predefined criteria. To obtain samples of 10 manufacturing companies, they were selected from a population of 144 manufacturing companies incorporated in the Indonesia Stock Exchange from 2014 to 2018. The data used in this study was financial statement data, and sources used to obtain these data were the Indonesian Capital Market Directory (ICMD) accessed from www.idx.co.id. The data analysis model used was panel data regression. This study showed that the Dividend Payout Ratio and Debt to Equity Ratio had a significant effect on stock returns.