文章基本信息

标题：Determinants of Investment Decisions with Growth Opportunities as Moderating Variable
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作者：Ra’uf Alvian Prasetya ; Ra’uf Alvian Prasetya ; Agung Yulianto 等
期刊名称：Accounting Analysis Journal
印刷版ISSN：2252-6765
出版年度：2019
卷号：8
期号：1
页码：17-23
DOI：10.15294/aaj.v8i1.28567
语种：English
出版社：Universitas Negeri Semarang
摘要：This study aims to test growth opportunities in moderating the effect of cash flow, investment opportunities and profitability on investment decisions. The population in this study amounted to 10 oil and gas mining companies listed on the Indonesia Stock Exchange (IDX) for the period 2012-2016. The sample selection used a purposive sampling method to obtain 45 units of analysis from 9 companies. The data collection method used in this research is documentation technique. The research data analysis used descriptive statistical analysis and absolute difference test with SPSS 21. The results showed that cash flow has a significant negative effect on investment decisions. Investment opportunities have no influence on investment decisions. Profitability has a significant positive effect on investment decisions. Growth opportunities are proven to mediate the influence of cash flow on investment decisions and the influence of profitability on investment decisions. The conclusion of this study is that the company’s investment decisions are directly influenced by cash flow and profitability. The next finding, growth opportunities proved to be able to mediate the effect of indirect cash flow on investment decisions and profitability on investment decisions.
关键词：cash flow; growth opportunities; investment opportunities; investment decisions; profitability