ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KESEMPATAN INVESTASI DI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.70900/jea.v3i1.54Keywords:
Profitability (ROA), Liquidity (Current Ratio, CR), Dividend Policy (DPR), Indonesia Stock ExchangeAbstract
This study examines the effects of dividend policy (DPR), liquidity (current ratio, CR), and profitability (ROA) on the investment opportunity set of manufacturing businesses listed between 2015 and 2017 on the Indonesia Stock Exchange. For the same time period, 144 manufacturing enterprises are included in the study's population.
For analysis, a quantitative approach utilizing associative causality was utilized. 22 businesses that matched the requirements were chosen through the use of purposeful sampling. To process the data, multiple regression analysis was used.
A coefficient of 0.088 and a significance level of 0.000 demonstrated that the Investment Opportunity Set is significantly enhanced by Profitability (ROA). Liquidity (CR), on the other hand, has a negative correlation with the Investment Opportunity Set (a coefficient of -0.136 and a significance of 0.047). With a coefficient of 0.004 and a significance level of 0.540, Dividend Policy (DPR) did not demonstrate any significant impact. With an adjusted R-squared of 0.306, the model's goodness of fit showed that these variables together account for 30.6% of the variation in the Investment Opportunity Set, with other factors not included in the model accounting for the remaining 69.4%.
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