Investment, Funding Decisions, Firm Value with Corporate Governance as Variable Moderation in Indonesia Stock Exchange

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Published Nov 20, 2023
https://doi.org/10.15294/aaj.v12i2.71005
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Statistic
Vol 12 No 2 (2023)

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Djuminah Djuminah
Department of Accounting, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
Rahmawati Rahmawati
Department of Accounting, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
Ari Kuncara Widagdo
Department of Accounting, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
Sri Hartoko
Department of Accounting, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
Setianingtyas Honggowati
Department of Accounting, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
Siti Nurlaela
Department of Accounting, Faculty of Economis, Universitas Islam Batik Surakarta / Universitas Sebelas Maret, Indonesia
Kiswanto Kiswanto
Department of Accounting, Faculty of Economics and Business, Universitas Negeri Semarang / Universitas Sebelas Maret, Indonesia

Abstract

Purpose : This study aims to examine the effect of investment decisions and funding decisions on company value with good corporate governance as a moderating variable in mining companies listed on the Indonesia Stock Exchange and included in the CGPI rating for the period 2017 -2021. The sampling technique was used for 5 years.


Method : The sample for this research was purposive sampling with a total sample of 17 state-owned and non-state-owned mining companies. Analysis technique research model using Moderated Regression Analysis (MRA).


Findings : The research results show that investment decisions affect firm value. Investment decisions moderated by corporate governance have a positive effect on firm value, while funding decisions moderated by corporate governance have a negative effect on firm value.


Novelty: The presence of corporate governance as a moderating variable on the influence of investment decisions and funding decisions on firm value


Keywords: Investment Decisions; Funding; Firm Value; Corporate Governance

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How to Cite
Djuminah, D., Rahmawati, R., Widagdo, A., Hartoko, S., Honggowati, S., Nurlaela, S., & Kiswanto, K. (2023). Investment, Funding Decisions, Firm Value with Corporate Governance as Variable Moderation in Indonesia Stock Exchange. Accounting Analysis Journal, 12(2), 94-101. https://doi.org/10.15294/aaj.v12i2.71005