PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN, DAN KEBIJAKAN DEVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

Optimization of corporate value is obtained, among others, by implementing financial management functions, in which a financial decision affects the others, which eventually affects the corporate value. financial management closely relates to critical-decisions making taken by the firm. This research aimed to analyze the effect of investment, funding decisions and dividend policy on the manufacture firm value listed in the Indonesia Stock Exchange. Samples were collected from 25 manufacture firms listed in the Indonesia Stock Exchange for the period of 2007-2010. To be included into the study samples, the firm had to fulfill the criterion required. This research applied an Ordinary Least Square (OLS) test to find out the effects of investment decisions, funding decisions, and dividend policy on the corporate value. The study resulted in a positive and significant effect of the investment decisions and funding decisions on the corporate value. The positive effect explained that the higher the invesment and funding decisions, the higher the corporate value. Howover, dividend policy had a negative insignificant effect on the corporate value