Management Studies and Business Journal
Vol. 3 No. 3 (2026): Management Studies and Business Journal (PRODUCTIVITY)

INFLUENCE INVESTMENT DECISIONS AND DIVIDEND POLICY ON COMPANY VALUE MEDIATED BY FINANCIAL PERFORMANCE

Bella, Ni Nyoman Nuryanti (Unknown)
Wijana, I Made Dauh (Unknown)
Widnyana, I Wayan (Unknown)
Suardhika, I Nengah (Unknown)



Article Info

Publish Date
10 Mar 2026

Abstract

This study aims to analyze the influence of investment decisions and dividend policies on firm value, with financial performance as a mediating variable, in property companies listed on the Indonesia Stock Exchange for the 2021–2024 period. This study uses secondary data in the form of annual financial reports. The study population consisted of 62 companies, using a purposive sampling technique, resulting in 248 observational samples. Path analysis and the Sobel test were used to examine the mediating role of the data. The research results show that investment decisions and dividend policy have a positive and significant effect on firm value. Investment decisions and dividend policy also have a positive and significant effect on financial performance. Furthermore, financial performance has a positive and significant effect on firm value. The mediation test results indicate that financial performance mediates the influence of investment decisions and dividend policy on firm value. The findings of this study indicate that improving the quality of investment decisions and dividend policies, supported by strong financial performance, can increase company value. This research is expected to contribute to company management, investors, and future researchers in understanding the factors influencing company value.

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Journal Info

Abbrev

productivity

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Management Studies and Business Journal (PRODUCTIVITY) reviewed covers theoretical and applied research in the field of Management and Business. Priority is given to those articles which satisfy the main scope of the journal, and have an impact in the research areas of interest. PRODUCTIVITY Journal ...