The Influence of Good Corporate Governance, Profitability, Leverage on Company Value Moderated by Company Size
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Jul 29, 2024
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Abstract
Purpose: Company value is one of investor’s consideration before making invesment decision. The aim of the research carried out is to analyze influence, profitability, GCG (Good Corporate Governance), company size and leverage on company value.
Design/methodology/approach: In this research, a population is applied in the form of food and beverage sector manufacturing companies on the BEI (Indonesian Stock Exchange) list for 2019-2022. As the following research sample uses a purposive sampling method, so that what is obtained is a total of 19 business entities. This research applies a type of data in the form of secondary data. In carrying out the research, data analysis was used in the form of multiple linear regression.
Findings: A conclusion was obtained in the form of profitability and leverage having an influence on the value of the company, in contrast to managerial ownership, independent board of commissioners, audit committee, and company size as moderators having no influence on the value of the company.
Paper type: Research Paper
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References
Amaliyah, F., & Herwiyanti, E. (2019). The influence of institutional ownership, independent board of commissioners and audit committee on the value of mining sector companies. Journal of Accounting, 9(3), 187-200.
Amelia, W., & Hernawati, E. (2016). The influence of independent commissioners, company size and profitability on earnings management.Neo-Bus, 10(1), 62-77.
Anisya, V., & Hidayat, I. (2021). The influence of liquidity ratios, activity, profitability and interest rates on the share prices of automotive companies listed on the IDX.Journal of Management Science and Research (JIRM), 10(1).
Badruddien, Y., Gustyana, T.T., & Dewi, AS (2017). The Influence of Good Corporate Governance, Leverage and Company Size on Company Value (Empirical Study of the Consumer Goods Industry Sector on the Indonesian Stock Exchange for the 2012-2015 Period). eProceedings of Management, 4(3).
Christiani, L., & Herawaty, V. (2019, October). The influence of managerial ownership, audit committee, leverage, profitability, and company size on company value with earnings management as a moderating variable. In Proceedings of the National Scholars Seminar (pp. 2-35).
Hertina, D., Hidayat, MBH, & Mustika, D. (2019). Company size, debt policy and profitability influence company value.Ecodemica Journal, 3(1), 1-10.
Lailiyah, C. Z., Massela, A., Yulianto, A., & Khalid, A. A. (2024). Impact of Corporate Social Responsibility, Profitability, Leverage, and Capital Intensity on Tax Aggressiveness: The Moderating Role of Firm Size in Indonesian Manufacturing Sector. Journal of Accounting, Finance and Auditing Studies, 10(2), 51–64. https://doi.org/10.56578/jafas100201
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Mayasari, T., Yusuf, & Yulianto, A. (2018). Pengaruh Return On Equity, Net Profit Margin Dan Ukuran Perusahaan Terhadap Underpricing. Jurnal Kajian Akuntansi, 2(2), 41–53. https://doi.org/10.36232/jurnalfairakuntansiunimuda.v3i1.4397
Nadhiyah, P. (2021). The Influence of Good Corporate Governance, Profitability, and Leverage on Company Value (Case Study of Banking Companies Listed on the Indonesian Stock Exchange for the 2016-2019 Period) (Doctoral dissertation, Stiesia Surabaya).
Nuryono, M., Wijanti, A., & Chomsatu, Y. (2019). The influence of managerial ownership, institutional ownership, independent commissioners, audit committee, and audit quality on company value. Edunomics Scientific Journal, 3(01).
Pradanimas, A., & Sucipto, A. (2022). The influence of company size, profitability and leverage on share prices with company value as an intervening variable.Brilliant: Research and Conceptual Journal, 7(1), 93-104.
Rohali, SS, Maimunah, D., Fadillah, NA, & Sugiyanto, S. (2021). The Effect of Implementing GoodCorporate Governance on Company Value with Company Performance as an Intervening Variable. Humanis (Humanities, Management and Science Proceedings), 1(2). Lb p2
Rumengan, P., Nangoi, G. B., & Rondonuwu, S. (2017). The Influence of Corporate Social Responsibility on Company Profitability at PT Bank Central Asia for the 2010-2015 Period.EMBA Journal: Journal of Economics, Management, Business and Accounting Research, 5(1).
Sondokan, NV, Koleangan, RA, & Karuntu, MM (2019). The Influence of the Independent Board of Commissioners, Board of Directors, and Audit Committee on the Value of Companies Listed on the Indonesian Stock Exchange for the 2014-2017 Period. EMBA Journal: Journal of Economic, Management, Business and Accounting Research, 7(4).
Sujarweni, VW (2017. Financial Report Analysis Theory, Applications and Research Results. Pustaka Baru Press. Yogyakarta
Susanti, A., wafirotin, KZ, & Hartono, A. (2019). The Influence of Good Corporate Governance,Profitability and Company Size on the Value of Manufacturing Companies Listed on the IDX for the 2011-2016 Period. Isoquant: Journal of Economics, Management and Accounting, 3(1), 11-24. LB P1
Sutama, D., & Lisa, E. (2018). The effect of leverage and profitability on company value.JSMA (Journal of Management Science and Accounting), 10(1), 21-39.
Valencia, K. (2019). The Influence of Profitability, Financial Distress, the Independent Board of Commissioners and the Audit Committee on Company Value is Mediated by Tax Avoidance (Empirical Study of Consumer Goods Industry Sector Companies Listed on the Indonesian Stock Exchange for the 2014-2017 Period). Journal of Accounting, 9(1), 47-62.
Yanda, AC (2018).The Influence of Capital Structure, Company Growth, Company Size and Profitability on Company Value in Manufacturing Companies Listed on the Indonesian Stock Exchange(Doctoral dissertation, University of North Sumatra).
Yulianto, A. (2017). Peran karakteristik perusahaan dan corporate governance dalam keputusan pendanaan perusahaan pertambangan. Jurnal Kajian Akuntansi, 1(1), 11–22.
Amelia, W., & Hernawati, E. (2016). The influence of independent commissioners, company size and profitability on earnings management.Neo-Bus, 10(1), 62-77.
Anisya, V., & Hidayat, I. (2021). The influence of liquidity ratios, activity, profitability and interest rates on the share prices of automotive companies listed on the IDX.Journal of Management Science and Research (JIRM), 10(1).
Badruddien, Y., Gustyana, T.T., & Dewi, AS (2017). The Influence of Good Corporate Governance, Leverage and Company Size on Company Value (Empirical Study of the Consumer Goods Industry Sector on the Indonesian Stock Exchange for the 2012-2015 Period). eProceedings of Management, 4(3).
Christiani, L., & Herawaty, V. (2019, October). The influence of managerial ownership, audit committee, leverage, profitability, and company size on company value with earnings management as a moderating variable. In Proceedings of the National Scholars Seminar (pp. 2-35).
Hertina, D., Hidayat, MBH, & Mustika, D. (2019). Company size, debt policy and profitability influence company value.Ecodemica Journal, 3(1), 1-10.
Lailiyah, C. Z., Massela, A., Yulianto, A., & Khalid, A. A. (2024). Impact of Corporate Social Responsibility, Profitability, Leverage, and Capital Intensity on Tax Aggressiveness: The Moderating Role of Firm Size in Indonesian Manufacturing Sector. Journal of Accounting, Finance and Auditing Studies, 10(2), 51–64. https://doi.org/10.56578/jafas100201
Matondang, Z., & Nasution, HF (2022).Data Analysis Practice: Econometric Processing with Eviews and SPSS. Merdeka Kreasi Group.
Mayangsari, R. (2018). The influence of capital structure, investment decisions, managerial ownership and audit committees on the value of companies in various industrial sectors listed on the Indonesia Stock Exchange for the 2012-2016 period. Journal of Management Science, 6(4), 477-485.
Mayasari, T., Yusuf, & Yulianto, A. (2018). Pengaruh Return On Equity, Net Profit Margin Dan Ukuran Perusahaan Terhadap Underpricing. Jurnal Kajian Akuntansi, 2(2), 41–53. https://doi.org/10.36232/jurnalfairakuntansiunimuda.v3i1.4397
Nadhiyah, P. (2021). The Influence of Good Corporate Governance, Profitability, and Leverage on Company Value (Case Study of Banking Companies Listed on the Indonesian Stock Exchange for the 2016-2019 Period) (Doctoral dissertation, Stiesia Surabaya).
Nuryono, M., Wijanti, A., & Chomsatu, Y. (2019). The influence of managerial ownership, institutional ownership, independent commissioners, audit committee, and audit quality on company value. Edunomics Scientific Journal, 3(01).
Pradanimas, A., & Sucipto, A. (2022). The influence of company size, profitability and leverage on share prices with company value as an intervening variable.Brilliant: Research and Conceptual Journal, 7(1), 93-104.
Rohali, SS, Maimunah, D., Fadillah, NA, & Sugiyanto, S. (2021). The Effect of Implementing GoodCorporate Governance on Company Value with Company Performance as an Intervening Variable. Humanis (Humanities, Management and Science Proceedings), 1(2). Lb p2
Rumengan, P., Nangoi, G. B., & Rondonuwu, S. (2017). The Influence of Corporate Social Responsibility on Company Profitability at PT Bank Central Asia for the 2010-2015 Period.EMBA Journal: Journal of Economics, Management, Business and Accounting Research, 5(1).
Sondokan, NV, Koleangan, RA, & Karuntu, MM (2019). The Influence of the Independent Board of Commissioners, Board of Directors, and Audit Committee on the Value of Companies Listed on the Indonesian Stock Exchange for the 2014-2017 Period. EMBA Journal: Journal of Economic, Management, Business and Accounting Research, 7(4).
Sujarweni, VW (2017. Financial Report Analysis Theory, Applications and Research Results. Pustaka Baru Press. Yogyakarta
Susanti, A., wafirotin, KZ, & Hartono, A. (2019). The Influence of Good Corporate Governance,Profitability and Company Size on the Value of Manufacturing Companies Listed on the IDX for the 2011-2016 Period. Isoquant: Journal of Economics, Management and Accounting, 3(1), 11-24. LB P1
Sutama, D., & Lisa, E. (2018). The effect of leverage and profitability on company value.JSMA (Journal of Management Science and Accounting), 10(1), 21-39.
Valencia, K. (2019). The Influence of Profitability, Financial Distress, the Independent Board of Commissioners and the Audit Committee on Company Value is Mediated by Tax Avoidance (Empirical Study of Consumer Goods Industry Sector Companies Listed on the Indonesian Stock Exchange for the 2014-2017 Period). Journal of Accounting, 9(1), 47-62.
Yanda, AC (2018).The Influence of Capital Structure, Company Growth, Company Size and Profitability on Company Value in Manufacturing Companies Listed on the Indonesian Stock Exchange(Doctoral dissertation, University of North Sumatra).
Yulianto, A. (2017). Peran karakteristik perusahaan dan corporate governance dalam keputusan pendanaan perusahaan pertambangan. Jurnal Kajian Akuntansi, 1(1), 11–22.