PENGARUH STRUKTUR MODAL, GOOD CORPORATE GOVERNANCE DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure, Good Corporate Governance (GCG) and firm size
on firm value. While, GCG was measured by independent commissioner, audit committee, managerial, and
institutional ownership. Moreover, there were 9 Real Estate and Property companies from 52 companies which
were listed on IDX 2014-2018, as sample. Furthermore, the data collection technique used purposive sampling.
Additionally, the data analysis technique used multiple linear regression. Meanwhile, the research result
concluded capital structure, independent commissioner, and firm size did not affect firm value. It meant, the
stock price amount was affected by company performance in which outside the research. On the other hand, audit
committee, managerial and institutional ownership affected firm value. However, it could lower firm value as
few audit commite which belong to independent commissioner members; did more separated tasks and duties. As
consequence, those were not focus running their responsibilities and company performance became worse. In
additional, the stock amount which were not significant yet triggered the manager not to focus on shareholder’s
role. Similar with, institutional ownership had bigger voting on management in encouraging them to make
decision based on its need; and neglecting its objective to increase firm value.
Keywords: capital structure, good corporate governance, firm size, firm value.