PENGARUH KEPUTUSAN INVESTASI DAN KEPUTUSAN PENDANAAN TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Perusahaan Sektor Industri Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia Tahun 2008-2014)
| Main Author: | Aryanti, Tri Dwi |
|---|---|
| Format: | Thesis NonPeerReviewed Book |
| Bahasa: | ind |
| Terbitan: |
, 2016
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| Subjects: | |
| Online Access: |
https://eprints.untirta.ac.id/12365/1/PENGARUH%20KEPUTUSAN%20INVESTASI%20DAN%20KEPUTUSAN%20PENDANAAN%20TERHADAP%20NILAI%20PERUSAHAAN%20%20DENGAN%20KEBIJAKAN%20.PDF https://eprints.untirta.ac.id/12365/ https://feb.untirta.ac.id/ |
Daftar Isi:
- One of the main goals the company set up to achieve the maximum benefit or profit as much as possible and optimize the value of the company. The value of the company is an investor perception of the company is to maximize the value of this company. This study aims to examine the effect of investment decisions and financing decisions on firm value used dividend policy as an intervening variable. Total Asset growth (TAG) used as a proxy of investment decision, Debt to Equity Ratio (DER) used as a proxy of funding decision Payout Ratio (DPR) used as a proxy of dividend policy and Tobin’s Q used as a proxy of firm value. The sample used in this study consisted of 8 consumer goods industry sector companies listed on the Indonesian Stock Exchange in the period from 2008-2014.Sampling was done by purposive sampling method. The analysis technique used is path analysis. Otherwise it, sobel test is used to test the strenght of the indirrect effect independent variables to dependent variables through intervening variable. The results showed that: (1) the investment decisions (TAG) significant negative effect on firm value (Tobin's Q), (2) the funding decision (DER) no significant effect on the value of the Company (Tobin's Q), (3) TAG influential positively significant to policy dividends (DPR), (4) DER no significant effect on policy dividends (DPR),(5) dividend policy significant positive effect on company value (Tobin's Q), and (6) policy dividends (DPR) as an intervening variable is not capable of mediating influence investment decisions on the firm value, and influence funding decisions on firm value. Keywords: Investment Decisions, Decisions Financing, Dividend Policy, and Firm Values.