The purpose of this research to determine the effect of capital structure on firm value with investment decisions as an intervening variable. The sample in this study was taken using purposive sampling and obtained a sample of 13 sample companies from 16 companies listed as food and beverage sub-sector consumer goods companies listed on the Indonesia Stock Exchange (IDX). The period used in this research is 4 years, namely from 2016 to 2019. The analysis method used is the path analysis method. The results showed that capital structure has a negative effect on firm value and has no effect on investment decisions, as well as investment decisions that have no effect on firm value and cannot mediate between capital structure and firm value.
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