PENGARUH INVESTMENT DECISION, FINANCING DECISION, DAN MAKRO EKONOMI TERHADAP GOOD FINANCIAL GOVERNANCE SERTA VALUE OF THE FIRM DENGAN UNSYSTEMATIC RISK DAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING
Abstract
The purpose of this research is to analyze the influence of investment decision, financing decision, and
macro economy toward good financial governance and value of the firm with unsystematic risk and
profitability as intervening variable. This research is conducted at Indonesia Stock Exchange (BEI) to all
manufacturing companies listed on Indonesia Stock Exchange from 2013 to 2016. The sample used is 27
manufacturing companies in Indonesia stock exchange in 2013-2016. The results showed that Based on the
results of data testing that has been carried out, a conclusion can be drawn on the results of hypothesis
testing: Investment Decision has no significant effect on Unsystematic Risk and on Financing Decision but
has a significant effect on Profitability, on Good Financial Governance, Value of the Firm and on Good
Financial Governance through Unsystematic Risk. Financing Decision has Significant Effect on
Unsystematic Risk, Profitability, Good Financial Governance but has no significant effect on Value of the
Firm Macroeconomics has a significant influence on Unsystematic Risk, Profitability, Investment Decisin,
Decision Financing, Good Financial Governance and Value of the Firm Unsystematic Risk Significantly
Affects Profitability and Good Financial Governance Profitability Significantly Affects Good Financial
Governance, and Value of The Firm, and Good Financial Governance Significantly Affects Value of The
Firm Financing Decision has a significant effect on Good Financial Governance through Unsystematic
Risk.Macroeconomics has a significant effect on Good Financial Governance through Unsystematic Risk.
Investment Decision affects the Value of the Firm through Profitability.Decision Financing on Value of the
Firm through Profitability.and Macroeconomics affects the Value of the Firm through Profitability.
Keywords: investment decision, financing decision, macro economy, good financial governance,
value of the firm, unsystematic risk, and profitability.
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