The Effect of Dividend Policy and Investment Opportunity on Firm Value Is Mediated by Capital Structure

  • Yusbardini Yusbardini Faculty of Economic and Business, Universitas Tarumanagara, Jakarta, Indonesia
  • Kurniati W. Andani Faculty of Economic and Business, Universitas Tarumanagara, Jakarta, Indonesia
Keywords: Investment Opportunity; Dividend Policy; Capital Structure; Firm Value


The purpose of this study is to analyze investment opportunity and dividend policy on the firm value and moderated by the company's capital structure. The sample used in this study consists of the annual financial statements of all listed LQ 45 companies. on the Indonesia Stock Exchange. The sample of this study was 23 companies selected through the purposive sampling method. The company data for this sample selection were taken from financial reports and annual reports from the official website of the Indonesia Stock Exchange, namely and the company's official website. Data processing is done using Sobel software (path analysis). The results of this study indicate the influence of investment opportunity, and dividend policy on firm value in LQ45 companies on the Indonesia Stock Exchange (IDX) mediated by the company's capital structure.


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How to Cite
Yusbardini, Y., & W. Andani, K. (2023). The Effect of Dividend Policy and Investment Opportunity on Firm Value Is Mediated by Capital Structure. International Journal of Social Science Research and Review, 6(3), 228-239.