iv ABSTRAK
Penelitian ini bertujuan untuk menganalisis pengaruh Keputusan Investasi terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di BEI dengan Kebijakan Dividen sebagai Variabel Intervening.
Populasi penelitian ialah seluruh perusahaan manufaktur di Indonesia yang terdaftar di Bursa Efek Indonesia selama periode 2012-2014 dengan sampel penelitian sebesar 13 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2012-2014. Penelitian ini menggunakan analisis regresi linear sederhana untuk hipotesis 1, hipotesis 2, dan hipotesis 3 dan analisis jalur untuk hipotesis 4.
Hasil penelitian menunjukkan bahwa, (1) Keputusan Investasi berpengaruh terhadap Nilai Perusahaan, (2) Keputusan Investasi berpengaruh terhadap Kebijakan Dividen, (3) Kebijakan Dividen berpengaruh terhadap Nilai Perusahaan, (4) Hasil penelitian ini menunjukkan Kebijakan Dividen sebagai Variabel Intervening mampu memediasi hubungan antara Keputusan Investasi terhadap Nilai Perusahaan.
Kata kunci : Nilai Perusahaan, Keputusan Investasi, Kebijakan Dividen,
Perusahaan Manufaktur.
v ABSTRACT
This research aims to analyze the Influence of Investment Decision on Firm Value with the Dividend Policy as Intervening Variable of Manufacturing Companies listed in Indonesia Stock Exchange.
Population of this research is the whole manufacturing companies listed in Indonesia Stock Exchange during the period of 2012-2014. Sample of this research consists of 13 manufacturing companies listed in Indonesia Stock Exchange during the period of 2012-2014. This research used simple regression analysis for hypothesis 1, hypothesis 2, hypothesis 3 and path analysis for hypothesis 4.
The result of this research shows that, (1) Investment Decision have an influence on Firm Value, (2) Investment Decision have an influence on Dividend Policy, (3) Dividend Policy have an influence on Firm Value, (4) The research prove the role of Dividend Policy as Intervening Variable on relation between Investment Decision and Firm Value.
Key word : Firm Value, Investment Decision, Dividend Policy, Manufacturing
Companies.
