Pengaruh Rasio Likuiditas, Solvabilitas, Aktivitas, Dan Profitabilitas Terhadap Invesment Oppurtunity Set

Abstract

The growth of the company is an expectation desired by all parties, either by internal parties (board of commissioners, board of directors, staff, etc.) or external parties (investors or creditors). One of the parameters used to determine future investments in the Investment Opportunity Set. Investment Opportunity Set describes the breadth of investment opportunities for a company but is highly dependent on the company's future spending options. This study was conducted to provide empirical evidence whether the financial ratio of liquidity, solvency, activity, and profitability affects the Investment Opportunity Set. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange with observations from 2014 to 2018. Determination of samples using purposive sampling method, which is a sampling technique with certain considerations that are considered to provide better data. The data used is sourced from the company's financial statements which can be accessed through www.IDX.co.id and www.idnfinancials.com. The number of samples used in this study was as many as 120 samples. The analysis technique used is multiple regression to obtain a complete picture of the relationship between variables. This study used an α value of 5%. Based on the results, the ratio of liquidity, solvency, and activity have influenced the Investment Opportunity Set with significance values of 0.009, 0.018, and 0.002, respectively. While the profitability ratio does not affect the Investment Opportunity Set due to the value of significance owned by 0.198.