THE ROLE OF INTEREST RATE MODERATION IN THE RELATIONSHIP OF INVESTMENT DECISIONS, AND FUNDING DECISIONS TO COMPANY VALUE
Article Sidebar
Main Article Content
Abstract
Research aim : The purpose of this study was to examine the effect of investment decisions and funding decisions on firm value and the moderating relationship of interest rates in influencing the strength or weakness of the relationship between investment decisions and funding decisions on firm value.
Design/Methode/Approach : This study used a sample of property and real estate sector companies listed on the Indonesia Stock Exchange during 2019-2021 as many as 7 companies with a total sample of 84 financial reports obtained using the purposive sampling method. The analysis method used is multiple linear regression and Moderated Regression Analysis (MRA) with the analysis tool IMB SPSS ver.21.
Research Finding : Based on the study's results, investment decisions are positively but insignificantly affecting firm value, while funding decisions significantly negatively impact firm value, interest rates do not moderate the relationship between investment decisions and firm value, and interest rates do not moderate the relationship between funding decisions and firm value.
Theoretical contribution/Originality : The objective of this study was to investigate whether or not interest rates influence the weak or strong relationship between investment decisions and funding decisions and company value, and to determine whether or not interest rates play a role
Practitionel/Policy implication : -
Research limitation : The research only focuses on property and real estate sector companies listed on the Indonesian IDX in 2019-2021
Article Details
References
Achmad, Amanah. Pengaruh Keputusan Investasi, Keputusan Pendanaan, Kebijakan Dividen dan Kinerja Keuangan Terhadap Nilai Perusahaan. J Ilmu Ris Akunt 2014;Vol.3 No.9.
Sumiati, Indrawati NK. Manajemen Keuangan Perusahaan. Malang: UB Press; 2019.
Sudarmanto E, Rahmawati I, Krisnawati A, Batubara RED, Hasibuan MI, Adat Muli Peranginangin AM, et al. Manajemen Keuangan. Medan: Yayasan Kita Menulis; 2022.
Sudana IM. Manajemen Keuangan Teori dan Praktik. Surabaya: Airlangga University Press; 2019.
Supriantikasari N, Utami ES. Pengaruh Return On Assets, Debt To Equity Ratio, Current Ratio, Earning Per Share Dan Nilai Tukar Terhadap Return Saham (Studi Kasus Pada Perusahaan Go Public Sektor Barang Konsumsi Yang Listing Di Bursa Efek Indonesia Periode 2015-2017). J Ris Akunt Mercu Buana 2019;5:49. https://doi.org/10.26486/jramb.v5i1.814.
Sudarmanto E, Susanti E, Revida E, Pelu MFAR, Purba S, Astuti A, et al. Good Corporate Governance (GCG). Yayasan Kita Menulis; 2021.
Kasmir. Analisis Laporan Keuangan. Jakarta: PT RajaGrafindo Persada; 2014.
Sri Utami E, Wulandari I. Pengaruh Penerapan Good Corporate Governance Terhadap Nilai Perusahaan. JRAMB 2021;7:206–12.
Janah UN, Ariani KR. Pengaruh Keputusan Investasi, Keputusan Pendanaan dan Kebijakan Dividen terhadap Nilai Perusahaan (Studi Empiris pada Perusahaan Sektor Keuangan yang Terdaftar di Bursa Efek Indonesia Periode 2018-2020). J Ekon Dan Bisnis 2022;10:340–8.
Yulinda VA. Pengaruh Keputusan Investasi, Pendanaan, Kebijakan Dividen Dan Ukuran Perusahaan Terhadap Nilai Perusahaan pada Sektor Consumer Cyclicals di Bursa Efek Indonesia. Repos Univ Hayam Wuruk Perbanas 2022.
Sari AR, Hermuningsih S, Maulida A. Pengaruh keputusan investasi, keputusan pendanaan, profitabilitas, dan tingkat suku bunga (bi rate) terhadap nilai perusahaan pada perusahaan manufaktur di bei tahun 2016-2020. Forum Ekon 2022;24:1–12. https://doi.org/10.30872/jfor.v24i1.10475.
Riyadi FA, Masripah, Widyastuti S. JOEL Journal of Educational and Language Research. JOEL J Educ Lang Res 2021;1:31–44. https://doi.org/10.53625/joel.v1i1.220.