Analysis of Firm Value Mediated by Investment Decisions of Coal Subsector Companies Listed on The Indonesian Stock Exchange

Firm value can be interpreted as a measure of the success of the company's performance in increasing shareholder prosperity. The purpose of this study was to determine the effect of company size, liquidity and leverage on firm value and the role of investment decisions as mediating variables in property and real estate companies listed on the Indonesia Stock Exchange for the 2019-2023 period. The sampling technique in this study used purposive sampling technique with a total sample of 19 companies. The analysis technique used is path analysis. This study found that company size and liquidity have a significant positive effect on firm value, while leverage has no significant effect on firm value, investment decisions are able to mediate the effect of company size and liquidity on firm value, and investment decisions are not able to mediate the effect of leverage on coal company value.