STUDI INTEGRASI ANTARA MANAJEMEN RISIKO DAN STRATEGI INVESTASI DALAM MENINGKATKAN NILAI PERUSAHAAN YANG TERCATAT DI BURSA EFEK INDONESIA

Muhamad Yayandi (Universitas Sali Al-Aitaam)

JURNAL LENTERA BISNIS
Vol. 15 No. 3 (2026): JURNAL LENTERA BISNIS, SEPTEMBER 2026

This study aims to examine the impact of the integration between risk management and investment strategy on firm value, utilizing data from companies listed on the Indonesia Stock Exchange (IDX). Firm value is measured using Tobin's Q, while risk management is assessed through the disclosure of Enterprise Risk Management (ERM) in annual reports, and investment strategy is represented by the capital expenditure to total assets ratio (CAPEX/Total Assets). The data used in this research is sourced from the annual reports of firms listed on the IDX for the period 2020–2024. The analysis is conducted using multiple linear regression. The findings indicate that both risk management and investment strategy have a positive influence on firm value, with a more significant effect when both are integrated into strategic decision-making processes.