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

Abstract

The company has a goal to maximize the welfare of the company's owner, one of the ways is by increasing the firm value. The companies that are going public in the capital market are reflected in stock prices, investors also have the desire for the right investment decisions and can earn profits. This research aimed to examine the effect of investment decisions, funding decisions, and dividend policy on the firm value. This research was quantitative and the research sample consisted of 38 manufacturing companies listed on the Indonesia Stock Exchange during the 2016-2020 period. The research sample used the purposive sampling method i.e., a sample selection with determining criteria. Moreover, the research analysis used multiple linear regression analysis with the program of Statistical Product and Service Solution (SPSS). The research result showed that: (1) Investment decision had a positive effect on the firm value because the firm value increased if the investment decision also increased, (2) funding decision did not affect the firm value the higher the debt, the lower of the firm value, (3) Dividend policy had a positive effect on the firm value, the higher of the dividend shared, the higher of the firm value.