Factors that Affecting Investment Decisions with Growth Opportunity as Moderated Variables

Abstract

Company management must strive for the welfare of shareholders through the authority given in making decisions that include investment decisions. For shareholders, investment decisions are very
important because investment is an indicator of the company's existence. This study aims to determine, analyze and test how the influence of investment opportunities, profitability, debt policy and dividend policy on investment decisions with growth opportunity as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange. The population in this study is manufacturing companies listed on The Indonesia Stock Exchange during the 2016-2018 period totaled 168 companies and obtained a sample of 29 companies. Where the sample is chosen by purposive sampling method. The data analysis technique used in this study is moderated regression analysis (MRA). The results showed that the investment opportunity variable has a positive effect on investment
decisions. Dividend policy negatively affects investment decisions. While the profitability and debt policy variables have no effect on investment decisions. Growth opportunity is not able to moderate the effect of investment opportunity, profitability, dividend policy and debt policy on investment decisions