Pengaruh Keputusan Keuangan Terhadap Nilai Perusahaan dengan Profitabilitas Sebagai Variabel Mediasi pada Sektor Properti dan Real Estate di Bursa Efek Indonesia

Rijal, Mohammad Chairur (2026) Pengaruh Keputusan Keuangan Terhadap Nilai Perusahaan dengan Profitabilitas Sebagai Variabel Mediasi pada Sektor Properti dan Real Estate di Bursa Efek Indonesia. Masters thesis, Universitas Hayam Wuruk Perbanas.

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Abstract

This study aims to examine the effect of investment decisions, financing decisions, and dividend policy on firm value, with profitability as a mediating variable, in property and real estate companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2024 period. The research employs a quantitative approach using secondary data derived from annual financial statements. The sample was selected through purposive sampling, and the analysis was conducted using multiple linear regression and the Sobel test. The results indicate that investment decisions have a positive but insignificant effect on firm value, financing decisions do not significantly affect firm value, and dividend policy has a negative but insignificant effect on firm value. Profitability is proven to mediate the effect of investment and financing decisions on firm value, where higher profitability leads to a greater potential increase in firm value. Theoretically, this study supports Signaling Theory by demonstrating the role of profitability as a mediating mechanism. Practically, the findings provide guidance for managers to prioritize profitability through operational efficiency and optimal asset management, as well as to balance dividend policy with long-term growth objectives in order to create sustainable firm value. Keywords: Investment Decisions, Financing Decisions, Dividend Policy, Profitability, Firm Value

Item Type: Thesis (Masters)
Subjects: 600 - TECHNOLOGY > 650 - 659 MANAGEMENT & PUBLIC RELATIONS > 658 - GENERAL MANAGEMENT > 658.15 - FINANCIAL MANAGEMENT
Divisions: Magister of Management
Depositing User: MOHAMMAD CHAIRUR RIJAL
Date Deposited: 09 Mar 2026 03:36
Last Modified: 09 Mar 2026 03:36
URI: http://eprints.perbanas.ac.id/id/eprint/13946

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