Determination of Firm Value with Investment Decisions as an Intervening Variable (Case Study at UMA)

Edo Satria; Jubaedah Nawir; Sri Mulyantini

doi:10.38035/dijefa.v6i1.4071

Authors

Edo Satria Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta
Jubaedah Nawir Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta
Sri Mulyantini Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta

DOI:

https://doi.org/10.38035/dijefa.v6i1.4071

Keywords:

Company size, Profitability, Financial risk, Investment decisions, Firm value, Unusual market activity.

Abstract

This study aims to examine the influence of company size, profitability, and financial risk on firm value, with investment decisions serving as an intervening variable. The population for this research comprises 105 multi-sector companies listed on the Indonesia Stock Exchange. The study employs a full sampling method, covering the year 2022 with a total of 105 observations. Data were analyzed using cross-sectional regression processed through E-Views version 13. The results reveal the following: (1) Company size negatively affects firm value; (2) Profitability negatively affects firm value; (3) Financial risk positively affects firm value; (4) Investment decisions positively affect firm value; (5) Company size does not indirectly affect firm value through investment decisions; (6) Profitability does not indirectly affect firm value through investment decisions; (7) Financial risk does not indirectly affect firm value through investment decisions.

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