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
DOI:
https://doi.org/10.31258/3w5j0y77Keywords:
Leverage, Business Risk, Investment Decisions, Dividend Policy, Company ValueAbstract
This study aims to determine the influence of leverage, business risk
and investment decisions on company value with dividend policy as
a moderating variable. This type of research is quantitative research.
The population in this study includes all coal companies. The sample
in this research was 22 companies. The sampling method used in
this research is purposive sampling, while the data processing
method used in this research is moderated regression analysis. The
research results show that leverage and business risk have a
significant negative effect on company value. Investment decisions
have no effect on company value. Dividend policy as a moderating
variable weakens the influence of leverage and investment decisions
on company value. Dividend policy as a moderating variable is able
to strengthen the influence of business risk on company value.
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