摘要：Telecommunication industry has unique characteristics in spending its Capital Expenditure. Some studies examine that CAPEX in telecommunication industry is driven by technology and concluded that their CAPEX give small amount of ROI. Different with any other previous researches, this research examines the impact of CAPEX in Customer Number, Profit and Return On Investment (ROI) by quantitative analysis. This research uses regression analysis with secondary data of the big three operator in Indonesia telecommunication industry in the last five years. Research findings conclude that even ROI from the CAPEX is very small; increasing in CAPEX has positive significant impact on Customer Number, Profit and also ROI. This research find that holding company perform better than single company in profit and also ROI. Finally this research suggests for the future research to examine the impact by comparing big company and small company which is small company prefers spending in Operating Expenditure (OPEX) to CAPEX.
