PENGARUH KEPUTUSAN INVESTASI, KEBIJAKAN DIVIDEN DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to determine the effect of the variables of investment decision, dividend policy and firm size on the firm value. This research sample used companies in the automotive sector listed on the Indonesia Stock Exchange during seven years of research in 2013-2019. Furthermore, the sample collection technique used a purposive sampling method which aimed to get a determined sample. Moreover, based on the determined criteria, it obtained 35 companies. Meanwhile, the analysis technique used in hypothesis tests used multiple linear regressions analysis. This research showed that the investment decision (PER) had a positive effect on the firm value; this showed that the investment decision’s punctuation showed a stock price to increase the firm value. Dividend policy (DPR) did not affect the firm value; it showed that investors did not see dividends distributed as a determinant of investingin companies. Firm size (SIZE) had a positive effect on the firm value; it showed that the larger the firm size seen from the total assets; therefore, the higher the firm value.
Keywords: firm value, investment decision, dividend policy, firm size