Determinasi Efisiensi Investasi

Entities need efficient investment activities to provide benefit for the company’s financial performance. Investment efficiency can be carried out by several factors, namely the quality of financial statement, institutional ownership, and debt maturity. Financial statement quality and institutional ownership can increase company capital which is used to make investments with good performance. Debt maturity can control management actions from inefficiency investment due to short maturity of debts. Investment efficiency can prevent agency conflict because investment efficiency can fulfill investor needs according to the agreement. The research using quantitative approach and focusing on manufacturing companies listed on Indonesia Stock Exchange (IDX) in 2016-2019 using the purposive sampling method. Hypothesis testing is using panel regression. The result of the research simultaneously conduct that financial statement quality, institutional ownership, and debt maturity have a significant effect on investment efficiency. The result of the study partially show that financial statement quality and debt maturity have a significant effect on investment efficiency, while the institutional ownership have no significant effect.