PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Abstract

The purpose of this research is to enhance the welfare of the stakeholders can be realized by maximizing the firm value which can be influenced by capital structure, dividend policy, and investment decision. The purpose of this research is to find out the influence of capital structure, dividend policy, and investment decision to the firm value of food and beverages companies which are listed in Indonesia Stock Exchange. This research is based on the some previous researches which describe various results in the research object with variable. The samples are food and beverages companies which are listed in Indonesia Stock Exchange in 2009-2013 periods and 15 companies have been selected as samples. The research data is processed by using SPSS 22 software, with the result of classic assumption test, multiple linear regressions analysis, Goodness of Fit test, and Hypothesis test. The result of the research describes that partially the capital structure and investment decision has influence to the firm value; meanwhile dividend policy does not have any influence to the firm value. Based on the result of partial determination coefficient test, the variable which has dominant influence to the firm value is the investment decision variable since its r2 value is the largest among independent variables.
Keywords: Capital Structure, Dividend Policy, Investment Decision and Firm Value.