THE EFFECT OF INVESTMENT DECISION, DIVIDEND POLICY, INTEREST RATE AND PROFITABLITY ON COMPANY VALUE OF PROPERTY AND REAL ESTATE COMPANIES LISTED IN THE INDONESIA STOCK EXCHANGE IN 2011-2014 PERIOD

Jurnal Akuntansi Prima, Volume VII, Nomor II, Juli 2017

Rabu, 13 September 2017 11:31 | Sudah dibaca 701 kali

The value of the company is an investor perception of companies that are often associated with stock prices. Any company has an objective of maximizing shareholder wealth. The welfare of shareholders can be seen from the high value of the company. There are several factors that affect the value of the company, but the researcher only studied four variables, namely investment decision, dividend policy, interest rates and profitability. This study aims to examine the effect of the investment decision, dividend policy, interest rates and the profitability of the company's value partially or simultaneously. The samples of this study were property and real estate companies listed on the Indonesia Stock Exchange in 2011-2014 period consisting of 49 companies drawn by using purposive sampling that the samples were of 17 companies. The analytical method used is the classic assumption test and test of hypotheses and multiple linear analysis. The results showed that simultaneously all independent variables of this study have a significant and positive effect on firm value. Investment decisions and profitability, partially have a significant effect on the value of the company, dividend policy and the interest rate do not have any effect and there is not any significant effect on the value of the company. The adjusted R-square were 0.845 indicating that a dependent variable (Price Book Value) can be explained by the independent variable (an investment decision, dividend policy, interest rates and profitability) of 84.5%.

Kata Kunci: Investment Decision, Policy Dividend, Interest Rate, Profitability, Company Value.