GOOD CORPORATE GOVERNANCE AS A MODERATING VARIABLE IN THE IMPACT OF FINANCIAL PERFORMANCE ON COMPANY VALUES

Dhian Andanarini Minar  Savitri; Yuyun  Ristianawati; Prihasantyo Siswo  Nugroho; Astohar Astohar

doi:10.53067/ije3.v1i2.11

Authors

Dhian Andanarini Minar Savitri STIE Totalwin Semarang, Indonesia
Yuyun Ristianawati STIE Totalwin Semarang, Indonesia
Prihasantyo Siswo Nugroho STIE Totalwin Semarang, Indonesia
Astohar Astohar STIE Totalwin Semarang, Indonesia

DOI:

https://doi.org/10.53067/ije3.v1i2.11

Keywords:

Kinerja keuangan, nilai perusahaan, good corporate governance, financial performance, firm value

Abstract

In the sector of the manufacturing industry that has gone public, the value of the company is very important to attract investors. One thing that is thought to affect the value of the company is financial performance. This study aims to determine the effect of financial performance on firm value with Good Corporate Governance as a moderating variable. In this study, financial performance is proxied by Return on Assets (ROA), firm value is proxied by Price to Book Value (PBV) and Good Corporate Governance is proxied using managerial ownership. The data in this study uses secondary data taken from the financial statements of manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2019. The results of this study indicate that financial performance has an effect on firm value, but Good Corporate Governance cannot moderate the effect of financial performance on firm value

Downloads

Download data is not yet available.

References

Cecilia, Ranbe, S., & Gray, M. (2015). Analysis of the Effect of Corporate Social Responsibility, Profitability, and Company Size on Firm Value. http://lib.ibs.ac.id/material/Prosiding/SNA%20XVIII/makalah/046.pdf

Dandy, P., & Nugroho, P. (2020). Effect of Financial Performance on Firm Value with Corporate Governance as Moderating Variable. International Journal of Social Science and Business, 4(2), 189-196.DOI: http://dx.doi.org/10.23887/ijssb.v4i2.24229

Erdianty, R. W., & Bintoro, I. (2015). The Effect of Financial Performance on Firm Value with Corporate Social Responsibility and Good Corporate Governance as Moderating Variables (Case Study on Manufacturing Companies listed on the Indonesia Stock Exchange 2010-2014 Period). Journal of Management and Business, 6(2), 376-396. https://journal.umy.ac.id/index.php/mb/issue/view/402

Ghozali, I. (2013). Application of Multivariate Analysis with IBM SPSS 21 Program (7th ed). Semarang: University of Indonesia Publishing Agency.

Mintarti, S., & Asmapane, S. (2018). The Influence of Capital Structure, Company Financial Performance, Company Size and Quality of External Auditor on Firm Value in Manufacturing Companies Listed on the IDX. Accountability, Journal of Accounting and Finance, 15(1), 1-11. DOI: http://dx.doi.org/10.29264/jakt.v15i1.1924

Purwantoro, Y. (2020). The Effect of Financial Performance on Firm Value with Good Corporate Governance as Moderating Variable in Mining Companies. STIE Perbanas http://eprints.perbanas.ac.id/6284/1/ARTIKEL%20ILMIAH.pdf

Rismawati, N., & Dana, I. (2016). Effect of Asset Growth, Interest Rate of Bank Indonesia Certificates on Dividend Policy and Firm Value of Manufacturing Companies on the Indonesia Stock Exchange. E-Jurnal Manajemen, 3 (4). Retrieved from https://ojs.unud.ac.id/index.php/Manajemen/article/view/7538

Savitri, DAM, Kurniasari, D., Mbiliyora, A. (2021). The Effect of Profitability and Firm Size on Firm Value with Capital Structure as an Intervening Variable (Study on Manufacturing Companies Listed on the Indonesia Stock Exchange in 2017-2019. Journal of Accounting and Taxes, 22(2). DOI : 10.29040/jap.v21i02.1825

Wijaya, A., & Linawati, N. (2015). The Effect of Financial Performance on Firm Value. Finesta,3(1),46-51.http://publication.petra.ac.id/index.php/management-financial/article/view/2961

Wijaya, H. (2017). Effect of Financial Performance on Firm Value with GOOD Corporate Governance as Moderating Variable. Musi Charitas Catholic University. http://eprints.ukmc.ac.id/1194/