PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL MODERASI

Abstract

This research aimed to determine the effect to corporate governance mechanism on the firm value with financial performance as the moderate variable. Furthermore, the corporate governance mechanism was proxy with independent commissionaire, board of directors, audit committee, and managerial ownership. This populayion of this research used manufacturing companies listed on Indonesia Stock Exchange (IDX). Moreover, samples of this research used manufacturing companies listed on the Indonesia Stock Exchange at Indonesia Stock Exchange (IDX) during 2016-2018. Meanwhile, the total sample of this research used purposive sampling with 42 companies. Additionally, this research used secondary data with annual statements during 2016-2018. The data analysis technique of this research used multiple liniear regression analysis. Based on this research, the board of directors and audit committee positively affected the firm value. Meanwhile, the independent commissionaire and managerial ownership did not have any effect on the firm value. Meanwhile, the financial performance was unable to moderate the independent commissionaire, the board of directors, audit committee, and managerial ownership on the firm value.
Keywords: corporate governance mechanism, firm value, financial performance