<![CDATA[This study aims to examine the effect of business risk, financial distress, and investment policy on firm value at PT Astra International Tbk during the period 2015-2024. Firm value in this study is measured using Price to Book Value (PBV), while business risk is measured by the Degree of Operating Leverage (DOL), financial distress by the Altman Z-Score,and investment policy by total asset growth (Asset Growth). The research employs an explanatory research design with a quantitative approach. Data analysis is conducted using descriptive statistics, classical assumption tests, and multiple regression analysis with the assistance of SPSS software. The results indicate that partially,only financial distress has a significant effect on firm value, whereas business risk and investment policy do not have a significant effect on firm value. However,simultaneously,business risk, financial distress, and investment policy have a significant effect on firm value. The coefficient of determination (adjusted R2) is 69.8%, indicating that these variables are able to explain 69.8% of the variation in firm value, while the remaining 30.2% is influenced by other factors outside the research model]]>
Copyrights © 2026
