EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis
Vol 14 No 3 (2026): Juli

Investment Decision, Funding Decisions, And Dividend Policies On Firm Value: Empirical Evidence From Emerging Country

Lutfatul Jamiah (Sekolah Tinggi Ilmu Ekonomi dan Pariwisata Indonesia (STIEPARI) Semarang)
Sukrisno Sukrisno (Sekolah Tinggi Ilmu Ekonomi dan Pariwisata Indonesia (STIEPARI) Semarang)



Article Info

Publish Date
08 Jul 2026

Abstract

This study aims to examine the influence of investment decision, funding decision, and dividend policies on the value of non finance companies listed on the Indonesia Stock Exchange for the period 2019 to 2023. The study population included all non finance companies listed on the Indonesia Stock Exchange, and sample selection was carried out using purposive sampling techniques with criteria of consistency of financial reporting, cash dividend distribution, and completeness of data during the observation period. This study uses secondary data in the form of annual financial statements obtained from the official website of the Indonesia Stock Exchange and analyzed using multiple linear regression using the Ordinary Least Squares method through SPSS software version 26. The results of the study show that. Simultaneously, Debt to Equity Ratio (DER) ,Price Earnings Ratio (PER ) and Price to Book Value (PBV),have a significant effect on the company's value with adequate model explainability. This study provides theoretical implications in the form of strengthening signaling theory and trade-off theory, managerial implications in the form of the importance of stable dividend policy priorities, and regulatory implications in the form of the need to strengthen transparency in the disclosure of financial policies of public companies in the Indonesian capital market.

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Journal Info

Abbrev

ER

Publisher

Subject

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

Description

Ekombis Review: Jurnal Ilmiah Ekonomi dan Bisnis is a peer-reviewed journal. Ekombis invites academics and researchers who do original research in the fields of economics, management, and ...