Main Article Content
The company's main purpose is to optimize the value of the company, which will be achieved by implementing good management functions. The financial manager should be able in the financial decisions (investment decisions, financing decisions and dividend policy) effective for financial decisions taken will affect the other decisions and business risks. Objective: (1) To analyze the direct influence investment decisions, financing decisions, dividend policy against the risk of the business and the value of the company; (2) To analyze the effect of business risk on the value of the company; (3) To analyze the indirect influence investment decisions, financing decisions, dividend policy on firm value through business risk. The population of this research is the property and real estate company listed on the Stock Exchange in 2011 - 2015, with a sample of 14 companies. Methods of analysis used is path analysis. The results show that: (1) significant influence funding decision but investment decisions and dividend policy does not significantly influence the business risks. Funding decisions and dividend policy but investment decisions have a significant effect no significant effect on the value of the company. (2) The business risks no significant effect on the value of the company. (3) The investment decision, financing, dividend policy indirect effect on corporate value through business risk.