Pengaruh Keputusan Investasi, Keputusan Pendanaan dan Ukuran Perusahaan terhadap Nilai Perusahan pada PT Ciputra Development Tbk Periode 2014-2024

Andini Setiawati; Rizka Wahyuni Amelia

doi:10.61132/lokawati.v4i2.2518

Authors

Andini Setiawati Universitas Pamulang
Rizka Wahyuni Amelia Universitas Pamulang

DOI:

https://doi.org/10.61132/lokawati.v4i2.2518

Keywords:

Company SIZE, Financing Decisions, Firm Value, Investment Decisions, Price to Book Value

Abstract

This study aims to analyze the partial and simultaneous effects of Investment Decisions, Financing Decisions, and Company Size on Company Value at PT Ciputra Development Tbk for the period 2014-2024. Company value is proxied by Price to Book Value (PBV), investment decisions by Price Earning Ratio (PER), financing decisions by Debt to Equity Ratio (DER), and company size by SIZE. The method used in this study is descriptive quantitative. The population of this study is the financial statements of PT Ciputra Development Tbk for the period 2014-2024, and the sample used is the financial position report, income statement, and share price of PT Ciputra Development Tbk for the period 2014-2024. The analysis methods used are descriptive analysis, classical assumption testing, multiple linear analysis, t-test, f-test, and coefficient of determination test using SPSS version 26. The results of the study show that partially, PER and DER do not have a significant effect on PBV, while SIZE has a negative and significant effect on PBV. Simultaneously, PER, DER, and SIZE significantly affect PBV with a coefficient of determination of 94.7%, indicating that the regression model has excellent predictive power. The remaining 5.3% is influenced by other variables outside the scope of this study.

Downloads

Download data is not yet available.

References

Amantra, M. V., Hadli, H., & Ikraam, I. (2025). The effect of profitability, company size, funding decisions, and investment decisions on firm value (study of property and real estate sector companies listed on the Indonesia Stock Exchange for the period 2021–2023). Journal of Management, Economic, and Accounting, 4(1), 277–286.

Amelia, R. W., & Sunarsi, D. (2020). Pengaruh return on assets dan return on equity terhadap debt to equity ratio pada PT Kalbe Farma Tbk. Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam, 4(1), 105–114.

Arsyada, A. B., Sukirman, S., & Wahyuningrum, I. F. S. (2022). Pengaruh ukuran perusahaan, profitabilitas, dan keputusan investasi terhadap nilai perusahaan dengan struktur modal sebagai variabel moderating. Owner: Riset dan Jurnal Akuntansi, 6(2), 1648–1663.

Astuti, S. E., Sembiring, L. D., Supitriyani, Azwar, K., & Susanti, E. (2021). Analisis laporan keuangan (H. F. Ningrum, Ed.). Media Sains Indonesia.

Badan Pusat Statistik. (2025). Ekonomi Indonesia tahun 2024 tumbuh 5,03 persen. BPS-Statistics Indonesia. https://www.bps.go.id/en/pressrelease/2025/02/05/2408/

Bank Indonesia. (2024). BI 7-day reverse repo rate. https://www.bi.go.id

Brigham, E. F., & Houston, J. F. (2019). Dasar-dasar manajemen keuangan (Edisi ke-14, Buku 2). Salemba Empat.

Dharmaputra, I. G. N. A., Rustiarini, N. W., & Dewi, N. P. S. (2022). Pengaruh profitabilitas, leverage, ukuran perusahaan, likuiditas, dan pertumbuhan perusahaan terhadap nilai perusahaan. KARMA (Karya Riset Mahasiswa Akuntansi), 2(1), 2141–2149.

Fahmi, I. (2020). Manajemen keuangan perusahaan dan pasar modal (Edisi ke-2). Mitra Wacana Media.

Febriana, H., Rismanty, V. A., Bertuah, E., Permata, S. U., Anismadiyah, V., Sembiring, L. D., Dewi, N. S., Jamaludin, J., Jatmiko, N. S., Inrawan, A., Astuti, W., & Dewi, I. K. (2021). Dasar-dasar analisis laporan keuangan (J. Irnawati, Ed.). Media Sains Indonesia.

Hidayat, W. W. (2024). Indikasi kesulitan keuangan (financial distress). PT Pena Persada Kerta Utama.

Jannah, I. M., & Febyansyah, A. (2023). Pengaruh keputusan investasi, likuiditas, ukuran perusahaan, dan struktur modal terhadap nilai perusahaan. Jurnal Ilmiah Global Education, 4(4), 2629–2645.

Kasmir. (2019). Analisis laporan keuangan. Raja Grafindo Persada.

Mulyana, A., Susilawati, E., Putranto, A. H., Arfianty, Muangsal, Supyan, I. S., Kurniawan, R., Harahap, L. R., & Soegiarto, D. (2023). Manajemen keuangan. Penerbit Widina.

Ningrum, E. P. (2022). Nilai perusahaan: Konsep dan aplikasi. Penerbit Adab.

PT Ciputra Development Tbk. (2024). Laporan tahunan 2014–2024. https://www.ciputradevelopment.com/investor-relations

Putri, A., Handriani, E., & Rahayu, S. (2025). Pengaruh ukuran perusahaan, keputusan investasi, dan keputusan pendanaan terhadap nilai perusahaan properti dan real estate. Jurnal Akuntansi, Keuangan dan Perpajakan, 8(1), 33–43.

Sawitri, N. N. (2025). Pengantar manajemen keuangan: Konsep dasar dan implementasi. Alifba Media.

Septiani, E. N., & Handayani, N. (2023). Pengaruh keputusan investasi, keputusan pendanaan, dan kebijakan dividen terhadap nilai perusahaan. Jurnal Ilmu dan Riset Akuntansi (JIRA), 12(5).

Suraya, A., & Dona, T. M. (2020). Pengaruh debt to equity ratio dan return on equity terhadap price to book value ratio pada PT Ciputra Development Tbk. Jurnal Sekuritas, 3(2), 166–175.