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 criticaldecisions
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.