PENGARUH PENJUALAN DAN HUTANG JANGKA PENDEK TERHADAP KEPUTUSAN INVESTASI ASET TETAP PT. KIMIA FARMA TBK PERIODE TAHUN 2010-2017

Abstract

This study aims to determine whether Sales (X1) and Short-term Debt (X2) both partiallyand simultaneously have a significant effect on the Decision of Fixed Asset Investment at PTKimia Farma Tbk which is listed on the Indonesia Stock Exchange (IDX).The data analysis method used is the classic assumption test, multiple linear regressionanalysis and hypothesis testing with the E-views program 9. The data used in this study aresecondary data, by collecting PT Kimia Farma Tbk's quarterly financial statements in the form ofbalance sheets and annual income statements. 2010 to 2017 which are listed on the IndonesiaStock Exchange. The sample used in this study is a quarterly financial statement in the form of abalance sheet and income statement of PT Kimia Farma Tbk from 2010 to 2017.The results of the F test in this study have a coefficient of 325.7019 with a prob (F-statistic)of 0.0000.000 <0.05. This result means that the independent variables (sales and short-term debt)simultaneously or jointly have a significant influence on the fixed asset investment decisions. Thet-test results partially indicate the level of significance obtained from the independent variable,namely sales of 0.0092 and short-term debt of 0.0000. This shows that short-term sales and debthave a significant effect in improving fixed asset investment decisions.Based on the results of the study, the researchers suggest that investors should pay attentionto the value of sales and short-term debt before making a decision to invest. For futureresearchers, it should add or multiply the independent variables that are still based on financialstatements other than those used in this study while remaining based on previous studies.Keywords: Sales, Short-term Debt and Fixed Asset Investment Decisions.