Influence of Financial Performance and Fair Price of Share on Investment Decisions with Good Corporate Governance as Moderating Variables in Companies in The Indonesia Stock Exchange
DOI:
https://doi.org/10.22441/jurnal_mix.2023.v13i1.006Keywords:
Financial Performance, Investment Decisions, Fair Price of Shares, Good Corporate GovernanceAbstract
Objectives: The goal of this research is to research and determine the influence of financial performance and fair share price on investment decisions with competent management for a Real Estate and Construction Property firm listed on the Indonesia Stock Exchange from 2016 to 2020.
Methodology: This study adopts a descriptive methodology of quantitative, the collection of financial statements of 51 companies that have been registered with the IDX. The measurement model and hypothesis testing are carried out using Views 9 software.
Finding: The results showed that Return on Equity, Current Ratio, and Debt Equity Ratio had no effect, but Total Asset Turnover and Price Book Ratio influenced investment decisions.
Conclusion: Investment decisions are not influenced by financial performance (ROE, CR, and DER), but they are influenced by other financial performance (TATO, and PBV). While good corporate governance does not moderate (weaken) the impact of a company's financial performance on investment decisions, it does moderate (strengthen) the impact of fair price shares (PBVs).
References
Adrisa, F. S., Nurdin, A. A., & Setiawan, I. (2021). Analisis Pengaruh Faktor Fundamental terhadap Harga Saham pada Perusahaan yang Konsisten Terdaftar di Jakarta Islamic Index. Journal of Applied Islamic Economics and Finance, 1(3), 710–717.
Arifin, A. Z., Kevin, K., & Siswanto, H. P. (2017). The influence of financial knowledge, financial confidence, and income on financial behavior among the workforce in Jakarta. MIX: Jurnal Ilmiah Manajemen, 7(1).
Endri, E. (2016). Dampak Perubahan Satuan Perdagangan Dan Fraksi Harga Terhadap Likuiditas Saham. MIX: Jurnal Ilmiah Manajemen, 6(1), 156519.
Gursida, H. (2017). The influence of fundamental and macroeconomic analysis on stock price. Jurnal Terapan Manajemen Dan Bisnis, 3(2), 222–234.
Handayani, J. D., & Panjaitan, Y. (2019). Board gender diversity and its impact on firm value and financial risk. Mix: Jurnal Ilmiah Manajemen, 9(3), 293233.
Izuddin, M. (2020). Analisis Pengaruh Faktor Fundamental Terhadap Return Saham Perusahaan Konstruksi (Studi Pada Saham Perusahaan Yang Tercatat Aktif Dalam LQ-45 di BEI Periode 2011-2018). Jurnal Ilmiah Ekbank, 3(1).
Jogiyanto. (2014). Teori Portofolio dan Analisis Investasi (10th ed.).
Jusman, J., & Puspitasari, S. D. P. S. D. (2020). Pengaruh Kondisi Fundamental Dan Inflasi Terhadap Harga Saham Pada Perusahaan Sub Sektor Perkebunan Tahun 2016-2018. Jurnal Ilmiah Ekonomi Bisnis, 6(1), 84–98.
Kasmir. (2016). Manajemen Sumber Daya Manusia (Teori dan Praktik). PT. Rajagrafindo Persada.
Oktiwiati, E. Dela, & Nurhayati, M. (2020). Pengaruh Profitabilitas, Struktur Modal, Dan Keputusan Investasi Terhadap Nilai Perusahaan (Pada Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia Tahun 2013-2017). MIX: Jurnal Ilmiah Manajemen, 10(2), 314601.
Pandaya, P., Julianti, P. D., & Suprapta, I. (2020). Pengaruh faktor fundamental terhadap return saham. Jurnal Akuntansi, 9(2), 233–243.
Sugianto, D. (2020). Detik Finance.
Sugiyono, D. (2018). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Alfabeta.
Sukamulja, S. (2019). Analisis laporan keuangan sebagai dasar pengambilan keputusan investasi.
Surjanto, D., & Sugiharto, T. (2021). LQ45 Stock Price Valuation Analysis Using Price to Book Value (PBV) and Price Earning Ratio (PER) Variables from 2016-2020. Enrichment: Journal of Management, 12(1), 205–211.
Taufik, T. (2016). Mediasi Profitabilitas Pada Hubungan Antara Good corporate governance Dan Firm Size Terhadap Corporate Social Responsibility. MIX: Jurnal Ilmiah Manajemen, 6(3), 399–415.
Yuniningsih, Y., & Taufiq, M. (2019). Investor Behavior In Determining Investmen On Real Asset. MIX: Jurnal Ilmiah Manajemen, 9(2), 293227.
Zarkasyi, W. (2008). Good corporate governance pada badan usaha manufaktur, perbankan, dan jasa keuangan lainnya. Bandung: Alfabeta, 5.
Downloads
Published
How to Cite
Issue
Section
License
The copyright to this article is transferred to Universitas Mercu Buana (UMB) if and when the article is accepted for publication. The undersigned hereby transfers any and all rights in and to the paper including without limitation all copyrights to UMB. The undersigned hereby represents and warrants that the paper is original and that he/she is the author of the paper, except for material that is clearly identified as to its original source, with permission notices from the copyright owners where required. The undersigned represents that he/she has the power and authority to make and execute this assignment.
We declare that this paper has not been published in the same form elsewhere.
Furthermore, I/We hereby transfer the unlimited rights of publication of the above mentioned paper in whole to UMB. The copyright transfer covers the right to reproduce and distribute the article, including reprints, translations, photographic reproductions, microform, electronic form (offline, online) or any other reproductions of similar nature.
The corresponding author signs for and accepts responsibility for releasing this material on behalf of any and all co-authors. This agreement is to be signed by at least one of the authors who have obtained the assent of the co-author(s) where applicable. After submission of this agreement signed by the corresponding author, changes of authorship or in the order of the authors listed will not be accepted.
Retained Rights/Terms and Conditions
Although authors are permitted to re-use all or portions of the Work in other works, this does not include granting third-party requests for reprinting, republishing, or other types of re-use.
