PENGARUH KEPUTUSAN INVESTASI, PENDANAAN, DIVIDEN DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to determine the effect of investment decisions, fund decisions, dividend policy, and financial performance on the firm value of companies listed on the Indonesia Stock Exchange (IDX) during 2016-2019. The data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 32 companies as the sample. Moreover, the independent variables were investment decisions were referred to as PER (Price Earning Ratio), funding decisions were referred to as DER (Debt to Equity Ratio), dividend policy was referred to as DPR (Dividend Payout Ratio), and financial performance was referred to as ROA (Return On Asset). While the dependent variable was the firm value which was referred to as PBV (Price to Book Value). Furthermore, the data analysis technique used multiple linear regression with a hypothesis test and a t-statistics test. The result concluded that: (1) investment decisions had a positive effect on firm value. (2) Likewise, fund decisions had a positive effect on firm value. (3) Similarly, dividend policy had a positive effect on firm value. (4) Also, financial performance had a positive effect on firm value.