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

Abstract

LQ45 become one of the companies which had the most liquid for its stock price in capital market. This made investors are interested to invest their money. While, companies are built in order to increase firm value and share its dividend to investors. Therefore, this research aimed to examine the effect of investment decision, funding decision and dividend policy on firm value which were listed on LQ45 index at Indonesia Stock Exchange during 2016-2018. The population was 66 companies which were listed on LQ45 index. Moreover, the data collection technique used purposive sampling. In the with, there were 15 samples of company. Additionally, the research was quantitative with its data analysis technique which used multiple linear regression. The research result concluded investment decision had positive effect on firm value. It meant, the increase of investment could give positive effect on investors in the future. One the other hand, funding decision had negative effect on firm value. This meant, the more the companies could run its accountability properly, the more the firm value would increase. Consequently, the stock price would increase also. In contrast, dividend policy had negative effect on firm value. In other words, even though LQ45 companies did not share its dividend, the investors would still interest in investing their money since they looked forward companies’ work prospect in the future.
Keywords: investment decision, funding decision, devidend policy.