The Effect of Leverage, Business Risk, and Investment Decisions on Company Value with Dividend Policy as a Moderating Variable in Coal Companies Listed on the Indonesia Stock Exchange in 2020-2022

Soraya Roma Tiur Hutagaol

IJEBA (International Journal of Economic, Business & Applications)
Vol. 9 No. 2 (2024): International Journal of Economic, Business and Applications

This study aims to determine the influence of leverage, business riskand investment decisions on company value with dividend policy asa moderating variable. This type of research is quantitative research.The population in this study includes all coal companies. The samplein this research was 22 companies. The sampling method used inthis research is purposive sampling, while the data processingmethod used in this research is moderated regression analysis. Theresearch results show that leverage and business risk have asignificant negative effect on company value. Investment decisionshave no effect on company value. Dividend policy as a moderatingvariable weakens the influence of leverage and investment decisionson company value. Dividend policy as a moderating variable is ableto strengthen the influence of business risk on company value.