The stock exchange in Indonesia acts as a means of financial resources of business and investment for the community. Any investor needs some profit from his/her investment. However, in determining a policy for decision making, many investors do not always think, rationally. Moreover, stock trading in the stock exchange/money market faces with high uncertainty, which may create some irrational acts and leads to irrational investment decisions. This study aims to test the biased investor's behavior, such as overconfidence, disposition effect, and risk tolerance on investor's trading activities in the Indonesian Stock Exchange. To analyze the qualitative response variable in this research, the researchers considered more than two categories. Therefore, the analysis required was Multi-nominal Logistic Regression Model. Meanwhile, some investors appointed to be the subject in this research were the customers of some Securities. The survey distributed 170 questionnaires and collected 141 properly filled ones used in this research. The testing result employing simultaneous multi-nominal logistic regression show that the overall model used was quite significant. The testing conducted partially also shows that only overconfident investors were affected by trading activities. Meanwhile, the opportunity of the overconfident investor to do trading was considered to be moderate as much as 0.177 multiplied from the "infrequent" category.

This study aims to determine the effect of profitability and company growth with dividend policy as a moderating variable on the value of manufacturing companies in the food and beverage sector listed on the Indonesian stock exchange for 2017 – 2020 period. The research method used is causal research, the sample used is 18 companies, and analyzed with moderated regression analysis. The results of this study, are Profitability has a significant positive effect on Food and Beverage Company Value, Company Growth has no significant effect on Food and Beverage Company Value, Dividend Policy can weaken the influence of Profitability on Company Value, and Dividend Policy does not have a significant effect on Company Growth on The value of the company.

The firm value can be interpreted as a measure of the success of the firm’s performance in increasing the prosperity of shareholders. The purpose of this study to determine the effect of profitability and capital structure on the firm value and the role of the capital structure as an mediating variable in property and real estate companies listed on the Indonesia Stock Exchange period 2017-2019. The sampling techniques in this study using purposive sampling technique with total sample of 44 companies. The analysis technique used is path analysis. This study finds the results that profitability has a significant positive effect on firm value, profitability has a significant positive on capital structure, capital structure has a non significant effect on firm value, and capital structure is not able to mediate the effect of profitability on firm value of property and real estate.

Nilai perusahaan adalah hal yang sangat penting, karena mencerminkan kinerja perusahaan yang dapat berpengaruh terhadap persepsi investor kepada perusahaan. Penelitian ini memiliki tujuan untuk mengetahui, menguji, dan membuktikan secara empiris dari (1) pengaruh keputusan investasi terhadap nilai perusahaan, (2) pengaruh keputusan pendanaan terhadap nilai perusahaan, (3) pengaruh kepemilikan manajerial dalam memoderasi hubungan keputusan investasi terhadap nilai perusahaan, (4) pengaruh kepemilikan manajerial dalam memoderasi hubungan keputusan pendanaan terhadap nilai perusahaan. Dalam penelitian ini menggunakan populasi perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2016-2018 berjumlah 166 perusahaan. Dengan menggunakan teknik sampling, yaitu metose purposive sampling sehingga sampel yang diperoleh sebanyak 48 perusahaan. Metode analisis yang digunakan yaitu analisis regresi moderasi. Berdasarkan hasil penelitian menunjukkan bahwa (1) keputusan investasi berpengaruh positif signifikan terhadap nilai perusahaan, (2) keputusan pendanaan berpengaruh non signifikan terhadap nilai perusahaan, (3) kepemilikan manajerial memoderasi hubungan keputusan investasi terhadap nilaiperusahaan, (4) kepemilikan manajerial tidak mampu memoderasi hubungan keputusan pendanaan terhadap nilai perusahaan.

The value of the company describes the quality of the company's effectiveness in growing the welfare of shareholders and is often used as a company's consideration. This is always tied to the stock price. The implementation of this research is expected to be able to interpret the impact of profitability on company scores and the role of dividend policy variables. The population taken is from companies in the property and real estate division, as many as 14 (fourteen) with a span of 4 years from 2017 and 2020. In this research, the researchers used the classical assumption test analysis method and multiple linear regression analysis. The variable from profitability to company score has an at-score of -1.010 and a significance score of 0.318, an at-count score of dividend policy of 0.322, and a significance score of 0.017. All variables from this research have calculated F of 2,963. This figure exceeds the score from the F table. Profitability has a non-significant effect on the company's score and significant dividend policy and can strengthen the impact of profitability on the value or score of the company. Key Words: SFA, Panel Data, Efficiency Key Words : Dividend Policy; Firm Value; profitability