DETERMINAN NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING

Abstract

The purpose of this research is to examine the effect of business risk, growth opportunity, investation decision on firm value by capital structure as an intervening variable. Type of research is quantitative with SPSS 23 by path analysis method. The sample was 42 property and real estate companies at The Indonesian Stock Exchange in 2014-2018 using purposive sampling method. The result showed that business risk and growth opportunity has no effect on capital structure, investation decision will increase capital structure, capital structure and growth opportunity has no effect on firm value, business risk will degrade firm value, investation decision will increase firm value, capital structure can’t be intervening variable.
Keywords: Business Risk, Growth Opportunity, Investation Decision, Capital Structure, Firm Value