Keputusan Investasi, Keputusan Pendanaan, Kebijakan Deviden, Profitabilitas, Firm Size, dan Nilai Perusahaan pada Sektor Aneka Industri di Bursa Efek Indonesia
DOI:
https://doi.org/10.26740/jim.v8n4.p1394-1405Keywords:
deviden policy, financial ratio, firm value, firm size, funding decisions.Abstract
This study aims to examine the effect of investment decisions, funding decisions, dividend policy, profitability and company size on firm value. In this study, company value is measured by Price to Book Value (PBV), Price Earning Ratio (PER) is used as a proxy for investment decisions, Debt to Equity Ratio (DER) is used as a proxy for funding decisions, Devided Payout Ratio (DPR) is used as a proxy dividend policy, Return On Equity (ROE) is used as a proxy for profitability and natural logarithm (ln) is used as a proxy for measure of firm value. This study uses a purposive sampling method to determine the number of samples. The sample used in this study were 10 manufacturing companies listed on the Indonesia Stock Exchange which published financial statements for the 2013-2017. The data analysis method uses multiple regression. The results showed that investment decisions had a positive effect on firm value. However, funding decisions had no effct on firm value, dividend policy had a negatif effect on firm value, profit had a positive effect on firm value and company size had a negatif affect the firm's value.
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Yuliani, Isnurhadi, & Bakar, Samadi. W. (2013). Keputusan Investasi, Pendanaan, Dan Dividen Terhadap Niiai Perusahaan Dengan Risiko Bisnis Sebagai Variabel Mediasi. Jurnal Keuangan Dan Perbankan, 17(64), 362375.
Fenandar, G. I., & Raharja, S. (2012). Pengaruh Keputusan Investasi, Keputusan Pendanaan, Dan Kebijakan Dividen Terhadap Nilai Perusahaan. Diponegoro Journal Of Accounting, 1, 110.
Gamayuni, R. R. (2015). The Effect Of Intangible Asset , Financial Performance And Financial Policies On The Firm Value. International Journal Of Scientific & Technology Research, 4(01), 202212.
Ghozali, I. (2016). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 23. Semarang: Badan Penerbit Undip.
Goh, T. S., & Simanjuntak, A. (2018). The Influence of Firm Size , Export Ratio and Earning Variablity On Firm Value with Economic Exposure as Intervening Variable in The Manufacturing Industry Sector. Economics and Business International Conference, 46(Ebic 2017), 521529.
Herawati, T. (2011). Pengaruh Kebijakan Dividen, Kebijakan Hutang Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Manajemen, 118.
Hoque, J., Hossain, A., & Hossain, K. (2014). Impact Of Capital Structure Policy On Value Of The Firm A Study On Some Selected Corporate Manufacturing Firms Under Dhaka Stock Exchange. Ecoforum, 3(2), 7784.
Karaca, S. S., & Arif Savsar. (2015). The effect of financial ratios on the firm value: Evidence from Turkey. Journal of Applied Economic Sciences, (January 2012).
Kautsar, A., Purwohandoko, Asandimitra, N., & Isbahah, Y. (2014). Analisis Pengaruh Firm Size, Der, Dan Sales Growth Terhadap Dividend Payout Ratio Dengan Roe Sebagai Variabel Intervening Pada Perusahaan Non Keuangan Yang Listed Di Bei Tahun 2009-2011. Jurnal Bisnis Strategi, 23(2), 113.
Laksmitasari, N. Z. (2016). Pengaruh Kebijakan Dividen, Kebijakan Hutang, Kebijakan Investasi Dan Profitabilitas Pada Nilai Perusahaan Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2014. Jurnal Manajemen, 1, 111115.
Mardiyati, U., Ahmad, G. N., & Putri, R. (2012). Pengaruh Kebijakan Dividen, Kebijakan Hutang Dan Profitabilitas Terhadap Nilai Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (Bei) Periode 2005-2010. Jurnal Riset Manajemen Sains Indonesia (JRMSI), 3(1), 117.
Marsha, N., & Murtaqi, I. (2017). The Effect Of Financial Ratios On Firm Value In The Food And Beverage Sector Of The Idx. Journal Of Business And Management, 6(2), 214226.
Matiin, N., Ratnawati, T., & Riyadi, S. (2018). The Influence of Investment Decisions , Funding Decisions , Risk of Strategy , To Efficeincy , Finance Performance , Value of Firm , Good Corporate Governance As Moderating Variable In The Mining Company Coal Sub Sector Go Public In Indonesia Stock Exchan. Archives of Business Research, 6(6).
Ningsih, P. P., & Indarti, I. (2012). The Influence of Investment Decision, Financing Decision, And Dividend Policy on Firm Value (Case Study at The Manufacturing Companies Listed in Indonesia Stock Exchange in The Period 2007-2009). Journal Management, 1, 123.
Nugroho (2018). Sektor Aneka Industri menguat paling tajam dan mendorong rebound Indeks Harga Saham Gabungan (IHSG). (https://m.cnnindonesia.com/2018, diakses pada 08 Januari 2019)
Nugroho, P. A. (2014). Pengaruh Struktur Kepemilikan Manajerial, Struktur Kepemilikan Institusional, Set Kesempatan Investasi, Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Imu Manajemen, 3, 116.
Nurhayati, M. (2013). Profitabilitas, Likuiditas Dan Ukuran Perusahaan Pengaruhnya Terhadap Kebijakan Dividen Dan Nilai Perusahaan Sektor Non Jasa. Jurnal Keuangan Dan Bisnis, 5(2).
Osazuwa, Nosakhare Peter dan Che-Ahmad, Ayoib. (2016). œThe Moderating Effect Of Profitability And Leverage On The Relationship Between Eco-Efficiency And Firm Value In Publicly Traded Malaysian Firms. Social Responsibility Journal 12(2): 295306.
Prasetyorini, B. F. (2013). Pengaruh Ukuran Perusahaan, Leverage, Price Earning Ratio Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Imu Manajemen, 1, 183196.
Priya, P. V., & Mohanasundari, M. (2016). Dividend Policy and Its Impact on Firm Value¯: A Review of Theories and Empirical Evidence. Journal OfManagement Sciences AndTechnology, 3(3), 5969.
Rahayu, F. D., & Asandimitra, N. (2014). Pengaruh Ukuran Perusahaan, Leverage, Profitabilitas, Kebijakan Dividen Dan Cash Holding Terhadap Nilai Perusahaan Pada Sektor Manufaktur. Jurnal Ilmu Manajemen, 2(April).
Rakhimsyah, L. A., & Gunawan, B. (2011). Pengaruh Keputusan Investasi, Keputusan Pendanaan, Kebijakan Dividen Dan Tingkat Suku Bunga Terhadap Nilai Perusahaan. Jurnal Investasi, 7(1), 3145.
Sari, O. T. (2015). Pengaruh Keputusan Investasi, Keputusan Pendanaan Dan Kebijakan Dividen Terhadap Nilai Perusahaan. Management Analysis Journal Http://Journal.Unnes.Ac.Id/Sju/Index.Php/Maj Pengaruh, 4(3), 212218. https://doi.org/10.1111/1467-6281.00054
Sartini, L. P. N., & Purbawangsa, I. B. A. (2012). Pengaruh Keputusan Investasi, Kebijakan Dividen, Serta Keputusan Pendanaan Terhadap Nilai Perusahaan Manufaktur Di Bursa Efek Indonesia. Jurnal Manajemen, Strategi Bisnis Dan Kewirausahaan Vol. 8, No. 2, Agustus 2014, 8191.
Sundari, U. S., Isharyanto, I., & Abidin, Z. (2017). Pengaruh Keputusan Investasi , Keputusan Pendanaan Perusahaan Food and Beverage Yang Terdaftar Di Bursa Efek Indonesia ( Bei ). Aktiva - Jurnal Penelitian Ekonomi Dan Bisnis, I(1), 110.
Tandelilin Eduardus. (2007). Analisis Investasi Dan Manajemen Portofolio (1st ed.). Yogyakarta: BPFE Yogyakarta.
Tarima, G., Parengkuan, T., & Untu, V. (2016). Pengaruh Profitabilitas, Keputusan Investasi Dan Keputusan Pendanaan Terhadap Nilai Perusahaan Farmasi Yang Terdaftar Di Bei Periode 2011-2014. Jurnal Berkala Ilmiah Efisiensi, 16(04), 465474.
Idx.co.id.2019. Laporan keuangan dan tahunan.(https://www.idx.co.id/perusahaan-tercatat/laporan-keuangan-dan-tahunan/. Diakses pada 17 April 2019)
Yuliani, Isnurhadi, & Bakar, Samadi. W. (2013). Keputusan Investasi, Pendanaan, Dan Dividen Terhadap Niiai Perusahaan Dengan Risiko Bisnis Sebagai Variabel Mediasi. Jurnal Keuangan Dan Perbankan, 17(64), 362375.
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2020-08-03
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Pamuji, B. L., & Hartono, U. (2020). Keputusan Investasi, Keputusan Pendanaan, Kebijakan Deviden, Profitabilitas, Firm Size, dan Nilai Perusahaan pada Sektor Aneka Industri di Bursa Efek Indonesia. Jurnal Ilmu Manajemen, 8(4), 1394–1405. https://doi.org/10.26740/jim.v8n4.p1394-1405
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