Free Cash Flow, Dividend Policy, Investment Opportunity Set, Opportunistic Behavior and Firm's Value: (A Study About Agency Theory)

This article aims to analyze the influence of Free Cash Flow (DCF), Dividend Payout Ratio (DPR), Investment Opportunity Set (IOS) and the Opportunistic Behavior of managers to the Value of the Firm. This study on the Indonesian Stock Exchange (BEI) by using Ordinary Least Square technique. The analysis showed that the independent variables FCF has no effect on Dividend Payout Ratio, FCF and IOS has no effect on Dividend Payout Ratio, Free Cash Flow has an effect on IOS. While, IOS, Dividend Payout Ratio and Opportunistic Behavior Manager affect the value of the firms.