PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI)

by Zaenal Abidin

The purpose of this research is to examine the effect of investment decisions, financing decisions, and dividend policy on the firm value, with risk as the intervening variable on food and beverage company listed in Indonesia Stock Exchange (BEI) in 2010-2016. The data used in this research is secondary data from the financial statements period of 2010-2016 which consisted of Price Earning Ratio (PER), Debt to Equity Ratio (DER), Dividend Payout Ratio (DPR), Degree Financial Leverage (DFL) and Firm Value (Tobin’s Q). The sampel consist of 6 financial data food and beverage companies listed in Indonesia Stock Exchange (BEI) in 2010-2016. Sampling method in this research use purposive sampling technique. The method of data analysis uses the regression analysis by using an SPSS 21 program.The result shows that there is influence of investment decision, financing decision and dividend policy simultaneously to firm value 43.5%. While the partial test results indicate that the financing decision gives 35.3% influence on the firm value, the risk gives effect of 47.1% to the firm value, while investment decisions and dividend policies have no effect on the firm value.

 

Keywords: Investment Decision, Financing Decision, Dividend Policy, Risk and Firm Value.