PENGARUH KEBIJAKAN PENDANAAN, KEBIJAKAN INVENTASI, DAN KEBIJAKAN OPERASI TERHADAP NILAI PERUSAHAAN

Mandiri  Hikmah Sahputra; David  Efendi

Mandiri Hikmah Sahputra Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya
David Efendi Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya

Keywords: funds policy, investment decision, operation policy, firm values

Abstract

This research examines (1) funds policy, (2) investment policy, and (3) operation policy on the firm values. The funds policy was measured by DAR, investment policy was measured by ROI, operation policy was measured by TATO, and firm value was measured by TOBINS Q. The research applies quantitatively with a casual-comparative approach, which is used to understand the cause and effect between two or more variables being observed. Furthermore, the population consists of Coal Mining sub sector companies. The data were taken for 4 years (2019-2022), with a total sample of 64 data. Moreover, the data analysis technique used multiple linear regression with Statistical Program for Sosial Science (SPSS) 26 version. The result indicates that (1) funds policy (DAR) has a positive effect on the firm values of Coal Mining sub sector companies. On the other hand, (2) investment policy (ROI) does not affect the firm values of Coal Mining sub sesctor companies. In contrast, (3) operation policy (TATO) has a negative effect on the firm values of Coal Mining sub sector companies.