The Influence Of Financing Decisions, Dividend Policy, And Financial Distress On Company Value With Financial Performance As A Mediating Variable (Study On Miscellaneous Industry Sector Issuers Listed In The Indonesian Sharia Stock Index (Issi) Period 2019-2023)

الملخص

This study aims to analyze the effect of funding decisions, dividend policies, and financial difficulties on company value with financial performance as a mediating variable in Miscellaneous Industry issuers listed on the Indonesian Sharia Stock Index (ISSI) for the period 2019– 2023. This study uses a quantitative approach with a causal associative method. The research data was obtained from the companies' annual financial reports and analyzed using the Partial Least Square (PLS) method with the help of SmartPLS 4.0 software. The funding decision variable was measured using the Debt to Equity Ratio (DER), dividend policy using the Dividend Payout Ratio (DPR), financial distress using the Altman Z-Score, financial performance using Return on Assets (ROA), and company value using Price to Book Value (PBV). The results show that financing decisions have a significant effect on company value, while dividend policy and financial distress do not have a significant effect on company value. In addition, financing decisions, dividend policy, and financial distress do not have a significant effect on financial performance. Financial performance also does not have a significant effect on company value and is unable to mediate the relationship between independent variables and company value. These findings indicate that company value in the ISSI Miscellaneous Industry sector is more influenced by factors outside the research model. Subscribe to DeepL Pro to edit this document. Visit www.DeepL.com/pro for more information.