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

Abstract

This research aimed to examine the effect off funds and investment decision, also dividend policy on the firm value.The research was quantitative. While, the data collection technique used purposive sampling, in which the sample based on on criteria given. In line with, there were 90 samples from 30 manufacturing companies which were listed on Indonesia Stock Exchange 2015-2017. Moreover, the data analysis technique used multiple linear regression.The research result concluded the funds decision did not affect the firm value. It meant, the number of debts in capital structure which to high whould affect the decrease of public trust. Consequently, the firm value became low. Furthermore, investment decision had positive and significant effect on the firm value. In other words, as the management had precise on its investment decision, the performance woud be maximum. Consequently, it have good information to the investors which in the future would increase the shares price and its firm value. In addition, the profit share in the form of dividend or retained earnings did not affect the firm value, which was affected by the profit and its business risks.
Keywords: funds decision, investment decision, dividend policy, firm value