Pengaruh Good Corporate Governance terhadap Nilai Perusahaan dimediasi oleh Kinerja Keuangan (Studi pada Perusahaan di Jakarta Islamic Index 70 Periode 2018-2021)

Madania Nurelma Rumaidia, Aulia Fuad Rahman

Abstract


Good corporate governance is considered to be able to create good relations among the company's stakeholders, expected to foster company's long-term goal achievement of maximizing the value of the company. As such, this study aims to examine the effect of good corporate governance—represented by institutional ownership, managerial ownership, and audit committee—on firm value, and to examine the indirect effect through financial performance. The samples include 50 companies incorporated in the Jakarta Islamic Index 70 of the Indonesia Stock Exchange in 2018-2021. The results of the panel data regression analysis exhibit that institutional ownership and managerial ownership have a positive effect on firm value while the audit committee has no effect on firm value. In addition, financial performance cannot mediate the relationship between institutional ownership, managerial ownership, audit committee and firm value.


Keywords


audit committee; financial performance; firm value; institutional ownership; managerial ownership

Full Text:

PDF

References


Agustina, D. 2017. Pengaruh corporate governance dan variabel keuangan terhadap nilai perusahaan. Jurnal Bisnis dan Akuntansi, 19(1), 13-26.

Alabdullah, T. T. Y., & Ahmed, E. R. 2020. Audit committee impact on corporate profitability in Oman companies: an auditing and management accounting perspective. Riset Akuntansi dan Keuangan Indonesia, 5(2), 121-128.

Al Farooque, O., Buachoom, W., & Sun, L. 2020. Board, audit committee, ownership and financial performance - emerging trends from Thailand. Pacific Accounting Review, 32(1), 54-81.

Arini, Y., & Musdholifah, M. 2018. Pengaruh intellectual capital dan good corporate governance terhadap nilai perusahaan melalui kinerja keuangan (Studi pada perusahaan subsektor perbankan yang listing di BEI periode 2013-2016). Jurnal Ilmu Manajemen (JIM), 6(3), 227-240.

Asian Development Bank. 2021. ASEAN Corporate Governance Scorecard Country Reports and Assessments 2019 [Set data]. https://www.theacmf.org/initiatives/corporate-governance/asean-corporate-governance-scorecard-country-reports-and-assessments-2019.

Baker, H. Kent, & Anderson, R. 2010. Corporate Governance: a Synthesis of Theory, Research, and Practice. John Wiley & Sons.

Desai, A., Kroll, M., & Wright, P. 2003. CEO duality, board monitoring, and acquisition performance: A test of competing theories. Journal of Business Strategies, 20(2), 137-156.

Febrianti, K., & Dewi, N. H. U. 2019. The effect of corporate governance on company value. The Indonesian Accounting Review, 9(2), 155-168.

Hartati, N. 2020. Pengaruh dewan komisaris, komite audit dan kepemilikan institusional terhadap kinerja keuangan perusahaan. Ekomabis: Jurnal Ekonomi Manajemen Bisnis, 1(02), 175-184.

Ilmi, M., Kustono, A. S., & Sayekti, Y. 2017. Effect of Good Corporate Governance, Corporate Social Responsibility Disclosure and Managerial Ownership to the Corporate Value with Financial Performance as Intervening Variables: Case on Indonesia Stock Exchange. International Journal of Social Science and Business, 1(2), 75-88.

Irma, A. D. A. 2019. Pengaruh Komisaris, Komite Audit, Struktur Kepemilikan, Size, dan Leverage Terhadap Kinerja Keuangan Perusahaan Properti, Perumahan dan Konstruksi 2013-2017. Jurnal Ilmu Manajemen, 7(3), 697-712.

Lestari, L. 2017. Pengaruh Kepemilikan Institusional dan Struktur Modal Terhadap Nilai Perusahaan. Jurnal Riset Manajemen dan Bisnis, 2, 293-306.

Keay, A. 2017. Stewardship theory: is board accountability necessary?. International Journal of Law and Management, 59(6), 1292-1314.

Mayangsari, R. 2018. Pengaruh Struktur Modal, Keputusan Investasi, Kepemilikan Manajerial, dan Komite Audit terhadap Nilai Perusahaan Sektor Aneka Industri yang Listing di Bursa Efek Indonesia Periode 2012-2016. Jurnal Ilmu Manajemen (JIM), 6(4), 477-485.

Mufidah, N. M., & Purnamasari, P. E. 2018. Pengaruh profitabilitas terhadap nilai perusahaan dengan pengungkapan corporate social responsibility dan good corporate governance sebagai variabel moderating. El Dinar: Jurnal Keuangan Dan Perbankan Syariah, 6(1), 64-82.

Neliana, T., & Destiana, R. 2021. Determinan Nilai Perusahaan Dengan Kinerja Keuangan Sebagai Variabel Intervening. JAS (Jurnal Akuntansi Syariah), 5(2), 173-190.

Ningrum, E.P. 2022. Nilai Perusahaan (Konsep dan Aplikasi). Penerbit Adab.

Rusyda, Z. T., & Priantinah, D. 2018. The Effect Of Ownership Structure And Sustainability Report Disclosure Toward Company Value With Financial Performance As Intervening Variable. Nominal: Barometer Riset Akuntansi dan Manajemen, 7(2), 75-90.

Sa'diyah, C., & Hilabi, I. I. 2022. The Effect Of Corporate Governance On Company Value In The Indonesia Stock Exchange And Sharia Stock In Indonesia. Jurnal Aplikasi Bisnis dan Manajemen (JABM), 8(2), 404-404.

Sari, P. Y., & Priantinah, D. 2018. Pengaruh Kinerja Keuangan dan Corporate Social Responsibility (CSR) Terhadap Nilai Perusahaan pada Bank yang Terdaftar di Bursa Efek Indonesia Periode 2011-2015. Nominal: Barometer Riset Akuntansi dan Manajemen, 7(1), 111-125.

Sari, D. P. K., & Sanjaya, R. 2018. Pengaruh good corporate governance, dan karakteristik perusahaan terhadap nilai perusahaan. Jurnal Bisnis dan Akuntansi, 20(1), 21-32.

Simorangkir, R. T. M. C. 2019. Pengaruh Kinerja Keuangan Terhadap Return Saham Perusahaan Pertambangan. Jurnal Bisnis Dan Akuntansi, 21(2), 155-164.

Singal, P. A., & Putra, I. N. W. A. 2019. Pengaruh kepemilikan institusional, kepemilikan manajerial, dan kepemilikan asing pada pengungkapan corporate social responsibility. E-Jurnal Akuntansi, 29(1), 468-484.

Sugiyono. 2022. Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Alfabeta.

Widianingsih, D. 2018. Kepemilikan manajerial, kepemilikan institusional, komisaris independen, serta komite audit pada nilai perusahaan dengan pengungkapan csr sebagai variabel moderating dan firm size sebagai variabel kontrol. Jurnal akuntansi dan Pajak, 19(01), 38-52.




DOI: http://dx.doi.org/10.33087/ekonomis.v7i2.1163

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Ekonomis: Journal of Economics and Business Published by Lembaga Penelitian dan Pengabdian kepada Masyarakat
Adress: LPPM Universitas Batanghari, Jl.Slamet Ryadi, Broni-Jambi, Kec.Telanaipura, Kodepos: 36122, email: ekonomis.unbari@gmail.com, Phone: 0741-670700

Creative Commons License This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.