Abstract
This study aims to examine the effect of investment decisions, debt policy and profitability on firm value. The value of this company is measured by price to book value, using data from chemical sub-sector manufacturing companies listed on the Indonesian stock exchange. This study uses a quantitative approach. This study is 13 chemical sub-sector manufacturing companies listed on the Indonesian stock exchange with a sample of 11 companies. The sample was selected using a random sampling method, namely taking members of the sample and the population was carried out randomly without paying attention to the strata in the population. This study used secondary data in the form of annual financial reports. The analysis used in this study was multiple linear regeneration analysis to see if there were or Whether or not the influence of two or more independent variables on the dependent variable either jointly or individually. Before being tested with multiple linear regression, a classical assumption test is first performed.The results showed that together the independent variables of investment decisions, debt policy and profitability simultaneously have a significant effect on firm value and partially investment decisions have a significant effect on firm value while debt policy and profitability partially have no significant effect on firm value
Highlights
Abstract−This study aims to examine the effect of investment decisions, debt policy and profitability on firm value
The value of this company is measured by price to book value, using data from chemical sub-sector manufacturing companies listed on the Indonesian stock exchange
This study is 13 chemical sub-sector manufacturing companies listed on the Indonesian stock exchange with a sample of 11 companies
Summary
Indonesia sebagai salah satu negara terbesar di dunia ternyata memiliki berbagai peranan penting diantara negara negara yang ada di asia tenggara. Keputusan investasi juga dapat digunakan untuk memaksimumkan nilai perusahaan, Keputusan investasi merupakan faktor yang sangat penting dalam fungsi keuangan perusahaan,dimana jika semakin tinggi keputusan investasi yang ditetapkan oleh perusahaan maka semakin tinggi kesempatan perusahan dalam memperoleh return atau tingkat pengembalian yang besar.karna dengan perusahaan yang memiliki keputusan investasi yang tinggi maka mampu untuk mempengaruhi pemahaman investor terhadap saham perusahaan tersebut (Pertiwi dkk, 2016). Keputusan pendanaan merupakan keputusanyang harus dilakukan oleh manajer keuangan untuk memperoleh dana, apakah dari dalam perusahaan sendiri/modal sendiri atau diperoleh dari luar perusahaan secara kredit atau pinjaman yang disebut dengan modal asing (Musthafa, 2017:6). Salah satu faktor–faktor internal perusahaan seperti keputusan investasi, kebijakan hutang dan kebijakan deviden yang dilakukan manajemen menurut beberapa teori dapat memengaruhi nilai perusahaan tersebut, profitabilitas juga dipercaya dapat mempengaruhi nilai perusahaan
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