PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN MODAL INTELEKTUAL SEBAGAI VARIABEL MODERASI

Siti Faizah, NIM.: 16840026 (2020) PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN DENGAN MODAL INTELEKTUAL SEBAGAI VARIABEL MODERASI. Skripsi thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

A company has a goal of increasing company value by making financial decisions. Financial decisions consist of investment decisions, funding decisions, and dividend policies. Besides financial decisions, other factors such as the company's intellectual capital are also considered to increase the company's value. The purpose of this study to determine the role of intellectual capital in moderating the influence of investment decisions, funding decisions, and dividend policies on the value of manufacturing companies listed on the Indonesia Stock Exchange in 2015-2018. The sampling technique used is purposive sampling. The analysis technique used is panel data regression test with EViews 10 software. The results of this study indicate that investment decisions proxied by PER have no effect on firm value, which is proxied by Tobin's Q. Funding decisions proxied by DER and dividend policy proxied by DPR and intellectual capital proxied by VAIC have a significant positive effect on firm value. In addition, intellectual capital strengthens investment decisions on firm value, but intellectual capital weakens funding decisions and dividend policies on firm value. This study supports bird in the hand theory, trade off theory, resource-based theory and does not support signaling theory.

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