PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL MODERATING

Abstract

This research aimed to examine the effect of Good Corporate Governance which referred to commissioner board size, size of board director, audit committee size, institusional and managerial ownership on firm value with financial performance as moderating variable of food and beverages companies which were listed on Indonesia Stock Exchange. The research was quantitative. Moreover, the data collection technique used saturated sampling. In line with this, there were 160 obsertvations from 32 food and beverages manufacturing companies which were listed on Indonesia Stock Exchange during 2015-2019. Furthermore, the data analysis technique used multiple linear regression with Moderated Regression Analysis. The research result concluded that commissioner board size, audit committee size, and managerial ownership did not affect firm value. On the other hand, size of board director and institusional ownership had negative effect on firm value. In addition, commissioner board size, audit committee size, institusional and managerial ownership did not affect firm value even though they had been intervened by financial performance. Meanwhile, size of board director had a positive effect on firm value through financial performance.
Keywords: good corporate governance, firm value, financial performance