PENGARUH KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN: DENGAN RISIKO BISNIS SEBAGAI VARIABEL MEDIATOR

Optimization of the firm’s value can be achieved through the implementation of financial management functions, which every decision will affect the firm value. This study aimed to determine the effect of investment decisions, financing decisions and dividend policy on firm value, with business risk as mediator variable. The population of this study is a property and real estate company sectors on the Indonesian Stock Exchange 2012 to 2015 period. The samples of this study are 23 companies. This study used statistical test such as descriptive statistics analysis, normality test and path analysis test. The result of this study are the investment decisions is influential toward firm value, the investment decisions is not influential toward firm value with business risk as mediator variable, the financing decisions is not influential toward firm value, the financing decisions is not influential toward firm value with business risk as mediator variable, the dividend policy is influential toward firm value, and the dividend policy is not influential toward firm value with business risk as mediator variable Keywords : Investment Decisions, Financing Decisions, Dividend Policy, Business Risk, Firm Valu