PENGARUH FAKTOR FUNDAMENTAL DAN FINANCIAL CONSTRAINTS TERHADAP KEPUTUSAN INVESTASI: STUDI EMPIRIS PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI ISSI

The phenomenon of mining companies based on key perfomance indicators, states that contribution of mining companies to the national GDP decreased during 2012-2015. The decline is influenced by the decrease of corporate investment. Because there is a positive relationship between investment and national GDP. In addition, mining companies experienced a decrease in profits. The decrease in profits will reduce invesment. This study is important, because invesment decisions related to future expetations. This study aims to find empirical evidence of fundamental factors, financial constraints to invesment decisions. Samples in this study using purposive sampling and obtained 22 mining companies registered in ISSI. Period in this research is for 4 years that are 2013- 2016. The independent variables in this research are cash flow, debt, profitability, and financial constraints. The moderation variable of this research is financial constraints, and dependent variable of this research is invesment decision. The results of study indicated that cash flow has negative influence and profitability has positive influence to investment decision, but debt and financial constraints is not like that. Other results is that financial constraints not moderate the relationship of independent variables with investment decision