This study aims to analyze the influence of perceived capital budgeting ability, perceived risk, and perceived organizational support on capital budgeting decisions, with the level of financial knowledge serving as a moderating variable in manufacturing companies in Karanganyar Regency. The study employed a quantitative approach using a survey method involving 70 respondents from manufacturing companies. Data were collected through structured questionnaires and analyzed using multiple linear regression and Moderated Regression Analysis (MRA) with the assistance of SPSS version 26. Prior to hypothesis testing, validity, reliability, and classical assumption tests were conducted to ensure data quality.
The results indicate that perceived capital budgeting ability, perceived risk, and perceived organizational support have a positive and significant effect on capital budgeting decisions. Furthermore, the level of financial knowledge strengthens the relationship between these three variables and capital budgeting decisions. These findings suggest that managerial analytical capability, adequate organizational support, and high financial literacy play important roles in improving the quality of investment decision-making in manufacturing companies.