PENGARUH KEBIJAKAN HUTANG, KEPUTUSAN INVESTASI DAN KEPUTUSAN PENDANAAN TERHADAP NILAI PERUSAHAAN

Abstract

The purpose of this study is to determine the effect of Debt Policy, Investment Decision and Decision Funding to the value of the company. In debt policy proxied by Debt to Assets Ratio, investment decision is proxied with Price Earning Ratio, funding decision is proxied by Debt to Equity Ratio, while company value is proxied with Price Book Value. Sampling technique is done by using saturated sampling method at tobacco companies which listed in Indonesia Stock Exchange (BEI) and the sample used amounted to 4 companies. The analysis technique used is multiple regression analysis. Based on the results of classical assumption test through normality test, multicollinearity test, autocorrelation test and heteroscedasticity test stated that all the variables used in this research meet the requirements that have been determined. While the model feasibility test conducted through simultaneous test and simultaneous coefficient of determination obtained that the regression model used in this research is feasible for further use. Based on hypothesis test result stated that debt policy and funding decision have an insignificant and positive effect to company value. Meanwhile, investment decisions have a significant and positive impact on the value of the company.
Keywords: Debt policies, investment decisions, funding decisions and corporate value.