PENGARUH KEPUTUSAN INVESTASI, PENDANAAN, KEBIJAKAN DIVIDEN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

One of the primary objectives of the company is to maximize the firm value. The firm value is the
perception of investors to the company which is mostly related with the stock price. The stock price is formed
from investor’s demand and supply of the company’s shares, so the stock price may be used as a proxy for the
firm value. This research is meant to test the influence of investment decision, financing decision, dividend
policy, and profitability to the firm value. The samples of this research are 35 manufacturing companies which
are listed in Indonesia Stock Exchange (IDX) in 2012-2014 periods are in accordance with the determined
criteria. This research is conducted by using purposive sampling method. The data source of this research has
been retrieved from Indonesia Stock Exchange (IDX). The data analysis of this research is done by using
multiple linear regressions analysis with the instrument of SPSS application (Statistical Product and Service
Solutions). The result of this research shows that the investment decision has influence to the firm value,
financing decision does not have any influence to the firm value, dividend policy has influence to the firm value,
and profitability has influence to the firm value.
Keywords: investment decision, financing decision, dividend policy, firm value.