Abstract. This studies aims to observe the development of literature on company
investment decisions and to decide what research should be conducted further on
company investment decisions in the theoretical framework of agency theory. The
methods used were bibliometric network analysis and literature review. This study has
mapped out the literature on company investment decisions based on agency theory.
This study shows that the topics on competition research, corporate governance, and
capital structure are closely related to the company investment decisions in the theory of
agency, and it is worth investigating. Therefore, it is necessary to develop further
empirical research related to company investment decisions in the framework related to
agency theory by analyzing the influences of competition, corporate governance, and
capital structure comprehensively on invesment decision.

Keywords: investment decision, bibliometric network analysis, capital structure, corporate governance, competition