The Effect of Investment Decisions and Funding Decisions on Firm Value with Dividend Policy as a Mediating Variable (Case Study of Manufacturing Companies Listed on the Indonesia Stock Exchange 2017-2020)

Abstract

This study analyzes the impact of investment decisions, funding, and dividend policy on firm value in manufacturing companies on the IDX (2017-2020). The results show that investment decisions have a significant effect on firm value, while dividend policy has a lower impact. This study provides important insights into the factors that influence firm value in Indonesia's manufacturing industry. Amid economic challenges, such as the COVID-19 pandemic, an understanding of the relationship between investment decisions, funding, dividend policy, and firm value helps companies strengthen their financial position. In conclusion, investment decisions determine firm value, while dividend policy has limited impact.