scholarly journals Mediating Effect of Islamic Social Reporting on the Relationship between Good Corporate Governance and Company Value: The Case of the State-Owned Enterprises

2020 ◽  
Vol 8 (1) ◽  
pp. 001
Author(s):  
Indah Yuliana ◽  
Farahiyah Sartika
Keyword(s):  
Corporate Governance ◽  
The State ◽  
Partial Least Square ◽  
Least Square ◽  
Mediating Effect ◽  
Stock Index ◽  
Social Reporting ◽  
Company Value ◽  
Good Corporate Governance ◽  
The Relationship

The concept of Good Corporate Governance (GCG) is related to the disclosure of Islamic Social Reporting (ISR) which guarantees that the funds invested in the company are well managed and will provide adequate returns so that this can attract investors and indirectly can increase the company value. This research aims to analyze the indirect effect of GCG rating on company value through the disclosure of ISR and it also attempts to analyze the direct effect of GCG and ISR toward company value, and the effect of GCG towards ISR. This research used quantitative and descriptive approaches with secondary data. The state-owned enterprises in the manufacturing and mining sector listed in the Indonesian Sharia Stock Index (ISSI) were selected as the sample of the study. The method used in this study includes descriptive statistical analysis, partial least square, and mediation test. The result shows that GCG has a positive effect on company value and ISR disclosure, while ISR disclosure does not affect company value. However, GCG does not affect company value through ISR disclosure. This indicates that ISR disclosure has no mediation effect on the relationship between GCG and company value.

scholarly journals Pengaruh Good Corporate Governance Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Mediasi (Studi Pada Perusahaan BUMN yang terdaftar di Bursa Efek Indonesia Periode Tahun 2016-2018)

2020 ◽  
Vol 12 (1) ◽  
pp. 77-94
Author(s):  
Hamdan Arif Fatoni Fatoni
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Sample Selection ◽  
Partial Least Square ◽  
Least Square ◽  
Return On Assets ◽  
Book Value ◽  
Purposive Sampling ◽  
Company Value ◽  
Good Corporate Governance

Salah satu tujuan perusahaan adalah untuk meningkatkan kesejahteraan atau memaksimalkan kekayaan pemegang saham (stockholders) melalui peningkatan nilai perusahaan. Nilai perusahaan dapat dipengaruhi oleh bebrapa faktor, diantaranya ialah jumlah aset perusahaan dan seberapa lama perusahaan berdiri dan juga melalui tata kelola perusahaan yang baik atau good corporate governance (GCG). Nilai suatu perusahaan dapat dikatakan baik apabila tata kelola perusahan dilaksanakan dengan baik. Dengan menerapkan GCG yang baik akan meningkatkan keuntungan dan mengurangi risiko kerugian di masa yang akan datang sehinga dapat mengangkat nilai perusahaan.  Tujuan penelitian ini untuk mengetahui bagaimana pengaruh Good Corporate Governance (GCG) secara langsung dan tidak langsung dengan adanya profitabilitas terhadap nilai perusahaan. Penelitian ini dilakukan pada perusahaan BUMN yang terdaftar di Bursa Efek Indonesia (BEI) pada tahun 2016-2018. Pemilihan sampel dalam penelitian ini berdasarkan metode purposive sampling dan diperoleh 16 perusahaan sampel dengan menggunakan teknik analisis data Partial Least Square (PLS).             Dari hasil penelitian menunjukkan bahwa Good Corporate Governance (GCG) berpengaruh signifikan terhadap nilai perusahaan. Good Corporate Governance (GCG) berpengaruh tidak signifikan terhadap profitabilitas dengan proksi Return On Asset. Profitabilitas dengan proksi Return On Asset berpengaruh tidak signifikan terhadap nilai perusahaan dengan proksi Price Book Value. Good Corporate Governance (GCG) berpengaruh tidak signifikan secara tidak langsung terhadap nilai perusahaan yang diukur dengan Price Book Value melalui profitabilitas yang diukur dengan Return on Asset. Kata Kunci: Good Corporate Governance (GCG), Nilai Perusahaan, Profitabilitas   Abstrac   One of the company's goals is to increase welfare or maximize the wealth of shareholders (stockholders) by increasing the value of the company. Company value can be influenced by several factors, including the amount of company assets and how long the company stands and through Good Corporate Governance (GCG). The value of a good company as if the governance of the company is implemented well. By implementing good, GCG will increase profits and reduce the risk of loss in the future. So it can lift the value of the company. The purpose of this study is to determine the effects of Good Corporate Governance (GCG) both directly and indirectly with profitability on a company value. This research is conducted at state-owned companies listed on the Indonesia Stock Exchange (IDX) in 2016-2018. The sample selection of this study is based on the purposive sampling method and obtained 16 sample companies using Partial Least Square (PLS) data analysis techniques.             The results of this study indicated that Good Corporate Governance (GCG) impacted the significant effect on company value. Good Corporate Governance (GCG) has no impact on profitability with the Return On Assets proxy. While profitability with the Return On Asset proxy is not affected by the value of the company with a Value Book Value proxy. Good Corporate Governance (GCG) has an indirect effect on the value of the company as measured by the Price of the Book Price through profitability using Return on Assets. Keyword: Keywords: Good Corporate Governance (GCG), Company Value, Profitability

The Determinants of Islamic Social Reporting Disclosure in Indonesia

2019 ◽  
Vol 4 (1) ◽  
pp. 05-14
Author(s):  
Tri Nofik Indayani ◽  
Puji Sucia Sukmaningrum ◽  
Achsania Hendratmi ◽  
Sylva Alif Rusmita
Keyword(s):  
Corporate Governance ◽  
Financial Institutions ◽  
Corporate Performance ◽  
Jel Classification ◽  
Partial Least Square ◽  
Least Square ◽  
Social Reporting ◽  
Good Corporate Governance ◽  
Islamic Financial Institutions ◽  
And Performance

Objective - The purpose of this research is to identify the relationship between corporate performance, Good Corporate Governance (GCG), and corporate characteristics on Islamic Social Reporting disclosure in Indonesia. Methodology/Technique - A quantitative approach is applied in this research. The sample of this study consists of companies that were consistently listed on the Jakarta Islamic Index (JII) from 2012 to 2017. A purposive sampling method with certain criteria was employed to produce a total of 72 samplings. Partial Least Square (PLS) was also used to analyse the data. Findings - The results of this research indicate that corporate performance has a positive and significant effect on ISR disclosure, GCG has a positive and significant effect on ISR disclosure, and corporate characteristics have a negative and insignificant effect on ISR disclosure. Novelty - Islamic Social Reporting is the answer and solution to the needs of the interested parties concerned with the company's financial statements. ISR becomes a very important thing for the reputation and performance of Islamic financial institutions. Islamic financial institutions that succeed in revealing their ISR value will be perceived as a reliable entity by the Muslim community in channelling their fund. Type of Paper Empirical Keywords: Islamic Social Reporting; Corporate Performance; Good Corporate Governance; Corporate Characteristics. JEL Classification: M40, M41, M49. DOI: 10.35609/afr.2019.4.1(2)

scholarly journals PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN (Studi Pada Perusahaan Manufaktur yang Terdaftar Di Bursa Efek Indonesia Tahun 2014-2015)

2018 ◽  
Vol 12 (1) ◽  
pp. 86
Author(s):  
Enggar Nursasi
Keyword(s):  
Corporate Governance ◽  
Audit Quality ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Partial Least Square ◽  
Least Square ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Company Value ◽  
Good Corporate Governance

This research to examine the influence of Good Corporate Governance, which includes managerial ownership, institutional ownership, board composition and audit quality of company value proxied by Tobin's Q. The number of samples in this study are 21 manufacturing companies, especially the consumer goods sector listed on the Indonesia Stock Exchange in 2014 and 2015. Analysis method of this research using Partial Least Square (PLS). The result of the research shows that managerial ownership and board of commissioner have no significant effect to company value, while institutional ownership and audit quality have significant effect to company value.

PENGARUH GOOD CORPORATE GOVERNANCE (GCG) MAKRO EKONOMI SIZE TERHADAP INVESTMENT DECISION DAN VALUE OF THE FIRM DENGAN PROFITABILITAS SEBAGAI VARIBEL INTERVENING SERTA FINANCING DECISION SEBAGAI VARIABLE MODERATING (Studi Pada Perusahaan Jasan Konstruksi BUMN Yang Listed Di PT Bursa Efek Indonesia)

2019 ◽  
Vol 4 (2) ◽  
Author(s):  
Sugiarto Sugiarto
Keyword(s):  
Corporate Governance ◽  
Investment Decision ◽  
Investment Decisions ◽  
Partial Least Square ◽  
Least Square ◽  
Moderator Variable ◽  
Corporate Values ◽  
Good Corporate Governance ◽  
Financial Decision ◽  
Significant Size

The purpose of this study is to analyze variables that related to investment decisions and corporate values of companies which listed at Bursa Efek Indonesia. Samples of this research are; (1) PT. Adhi Karya (Persero) Tbk, (2) PT. Pembangunan Perumahan (Persero) Tbk, (3) PT. Waskita Karya (Persero) Tbk, (4) PT. Wijaya Karya (Persero) Tbk, selected by purposive sampling. Analysis of this research using Partial Least Square (PLS). The results show that the effect Good Corporate Governance (GCG) on profitability, investment decision and value of the firm is significant, Macro Economy to profitability is not significant, Macro Economy to investment decision and value of the firm is significant, Size to profitability and value of the firm is significant, Size to investment decision is not significant. Profitability to investment decision and value of the firm is significant. Investment decision to value of the firm is significant. Financial decision as a moderator variable on profitability linkage to investment decision is not significant. Financial decision as a moderator variable on profitability linkage to the value of the firm is significant. Financial decision on investment decision and value of the firm is significant.

scholarly journals Bagaimana Good Corporate Governance (GCG) dalam Keberlanjutan Perusahaan?

2020 ◽  
Vol 3 (2) ◽  
pp. 225
Author(s):  
K. Kurniyati ◽  
K. Khairiyani
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Stock Price ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Good Corporate Governance

<p>This research aimed to examine the effect of Good Corporate Governance (GCG) on firm value. Good Corporate Governance (GCG) was measured by the Corporate Governance Perception Index (CGPI). CGPI was assessed by the Indonesian Institute of Corporate Governance (IICG), an independent institute that was conducting the development of Good Corporate Governance in Indonesia. The firm value was reflected by the stock price, PBV (Price to Book Value), and Tobin’s Q. This study used ten firms as a sample consistently listed in the Indonesian Stock Exchange and followed the CGPI program during 2014-2019. The sample was determined by using purposive sampling. Analysis of data in this study used Structural Equation Modeling-Partial Least Square (SEM-PLS) with SmartPLS 3rd version. The result showed that CGPI reflected Good Corporate Governance affected firm value (stock price, PBV, and Tobin’s Q).</p>

scholarly journals Pengaruh Corporate Governance dan Ukuran Perusahaan Terhadap Kinerja Keuangan dan Firm Value dengan Substainability Reporting sebagai Variabel Intervening

2019 ◽  
Vol 6 (02) ◽  
pp. 81-96
Author(s):  
Rara Gustiana ◽  
Wahyudin Nor ◽  
Muhammad Hudaya
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Significant Influence ◽  
Firm Value ◽  
Secondary Data ◽  
Sustainability Reporting ◽  
Partial Least Square ◽  
Least Square ◽  
Company Size ◽  
Company Value

ABSTRACT This study aims to analyze more deeply the relationship of corporate governance and company size to financial performance and company value with sustainability reporting as an intervening variable. This study uses secondary data. The independent variables in this study are corporate governance and company size. The dependent variable in this study is financial performance and company value. The intervening variable used is sustainability reporting. GRI is used as a sustainability reporting alloy for index measurement bases. The sample of this study was 12 companies that published sustainability reporting and financial reports for three consecutive years in 2014-2016 which could be accessed through the company's website. Data analysis techniques in this study using Partial Least Square (PLS) with a calculation process that is assisted by a software application program. The results of the study show that there is no significant effect of corporate governance and company size on sustainability reporting. The results also indicate a positive and significant influence of corporate governance on financial performance, there is a significant effect of corporate governance on company value, and there is no significant influence of company size on financial performance and company values. Sustainability reporting does not mediate corporate governance and company size on financial performance and company value ABSTRAK Penelitian ini bertujuan untuk menganalisis lebih dalam hubungan tata kelola perusahaan dan ukuran perusahaan dengan kinerja keuangan dan nilai perusahaan dengan pelaporan keberlanjutan sebagai variabel intervening. Penelitian ini menggunakan data sekunder. Variabel independen dalam penelitian ini adalah tata kelola perusahaan dan ukuran perusahaan. Variabel dependen dalam penelitian ini adalah kinerja keuangan dan nilai perusahaan. Variabel intervening yang digunakan adalah pelaporan keberlanjutan. GRI digunakan sebagai paduan pelaporan keberlanjutan untuk basis pengukuran indeks. Sampel penelitian ini adalah 12 perusahaan yang menerbitkan laporan keberlanjutan dan laporan keuangan selama tiga tahun berturut-turut pada 2014-2016 yang dapat diakses melalui situs web perusahaan. Teknik analisis data dalam penelitian ini menggunakan Partial Least Square (PLS) dengan proses perhitungan yang dibantu oleh program aplikasi perangkat lunak. Hasil penelitian menunjukkan bahwa tidak ada pengaruh yang signifikan dari tata kelola perusahaan dan ukuran perusahaan pada pelaporan keberlanjutan. Hasil penelitian juga menunjukkan pengaruh positif dan signifikan dari tata kelola perusahaan terhadap kinerja keuangan, ada pengaruh signifikan tata kelola perusahaan terhadap nilai perusahaan, dan tidak ada pengaruh signifikan ukuran perusahaan terhadap kinerja keuangan dan nilai-nilai perusahaan. Pelaporan keberlanjutan tidak memediasi tata kelola perusahaan dan ukuran perusahaan pada kinerja keuangan dan nilai perusahaan. JEL Classification: G34, Q56

scholarly journals The Effect of Intellectual Capital and Good Corporate Governance on Company Value Mediated by Competitive Advantage

2021 ◽  
Vol 22 (2) ◽  
Author(s):  
Selvia Roos Ana ◽  
Agung Budi Sulistiyo ◽  
Whedy Prasetyo
Keyword(s):  
Corporate Governance ◽  
Competitive Advantage ◽  
Intellectual Capital ◽  
Firm Value ◽  
Capital Good ◽  
Company Value ◽  
Good Corporate Governance ◽  
The Relationship ◽  
A Company

Abstract:  This study examines the effect of the relationship between intellectual capital, good corporate governance, and firm value by using competitive advantage as mediation. Design/methodology/approach :  This study uses a sample of companies registered in CGPI during the 2014-2018 period. Data analysis using regression and path analysis.Research findings :  The research results show that the creation of a competitive advantage is inseparable from the role of intellectual capital and good corporate governance. In addition, competitive advantage is able to increase firm value but unfortunately it is not able to mediate company value.Theoretical contribution/ Originality :  This study uses M-VAIC to measure intellectual capital where in this measurement there is additional relational capital, and the use of competitive advantage as a mediating variable.Practitioner/Policy implication : This study proves the resourced-based theory which states that a company can win the competition by having a competitive advantage so that in the end it can increase firm value.Research limitation/Implication:  This study only includes CGPI listed companies as the research sample. In addition, the independent variables used are limited to intellectual capital and good corporate governance. Keywords:  intellectual capital, good corporate governance, competitive advantage, company value

scholarly journals Determinan Manajemen Laba dan Dampaknya Terhadap Relevansi Nilai Informasi Akuntansi: Pengujian Peran Good Corporate Governance

2019 ◽  
Vol 1 (1) ◽  
pp. 11-30
Author(s):  
Resti Kartika Dewi
Keyword(s):  
Corporate Governance ◽  
Discretionary Accruals ◽  
Partial Least Square ◽  
Least Square ◽  
Short Term ◽  
Purposive Sampling ◽  
Good Corporate Governance

Penelitian ini bertujuan untuk menganalisis determinan manajemen laba dan dampaknya terhadap relevansi nilai informasi akuntansi serta peran good corporate governance (GCG) sebagai variabel pemoderasi. Populasi penelitian ini adalah 83 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016. Jumlah sampel yang ditentukan dengan teknik purposive sampling berjumlah 62 perusahaan manufaktur. Alat analisis yang digunakan adalah Partial Least Square (PLS). Hasil penelitian ini menunjukkan bahwa kinerja keuangan dan struktur kepemilikan berpengaruh positif dan signifikan terhadap manajemen laba sementara karakteristik perusahaan berpengaruh positif tetapi tidak signifikan. Hasil lain menunjukkan bahwa manajemen laba dengan indikator short term discretionary accruals dan long term discretionary accruals merupakan indikator dari manajemen laba yang paling berpengaruh terhadap relevansi nilai informasi akuntansi dan good corporate governance terbukti memperlemah pengaruh manajemen laba terhadap relevansi nilai informasi akuntansi. Implikasi penelitian ini dapat berguna sebagai dasar masukan dan pertimbangan bagi pengguna laporan keuangan khususnya investor dalam melakukan pengambilan keputusan investasi. Bagi pihak manajemen, hasil penelitian dapat dijadikan sebagai bahan pertimbangan dalam penyusunan rencana kegiatan perusahaan dan bagi pemerintah dalam menetapkan kebijakan pajak.

Stock returns and financial performance as mediation variables in the influence of good corporate governance on corporate value

2019 ◽  
Vol 19 (6) ◽  
pp. 1289-1309
Author(s):  
Suhadak Kurniati
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Stock Returns ◽  
Significant Influence ◽  
Corporate Value ◽  
Positive Direction ◽  
Content Type ◽  
Company Value ◽  
Good Corporate Governance ◽  
The Relationship

Purpose This paper aims to examine the influence of good governance on corporate value, in which the stock returns and financial performance act as the mediator of the relationship among them. Design/methodology/approach This research was conducted on companies go public listed on the Indonesia Stock Exchange and was included in 2011 to 2017 LQ45 index list, with samples taking a purposive sampling approach through four criteria. Data analysis using WarpPLS with indicator approaches are formative (mutually exclusive between indicators). Findings The findings are as follows: good corporate governance has a significant influence on stock returns in a negative direction; good corporate governance has no significant influence on financial performance; good corporate governance has no significant influence on company value; stock returns have a significant influence on financial performance in a positive direction; financial performance has a significant influence on stock returns with a positive direction; stock returns significantly influence the value of the company in a positive direction; financial performance has a significant influence on the company value in a positive direction. Originality/value The novelty in this study is that the relationship between stock returns and financial performance is reciprocal, which is the relationship among variables that affect each other (back and forth causality), in which in the previous study, the relationship between variables is only one direction; besides, the previous study conducted an analysis to find out the influence of good corporate on stock returns, company value and financial performance separately, with mixed results.

Mobile money adoption and usage and financial inclusion: mediating effect of digital consumer protection

2020 ◽  
Vol 22 (3) ◽  
pp. 157-176
Author(s):  
George Okello Candiya Bongomin ◽  
Joseph Mpeera Ntayi
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Structural Equation ◽  
Partial Least Square ◽  
Financial Inclusion ◽  
Least Square ◽  
Mediating Effect ◽  
Content Type ◽  
Mobile Money ◽  
The Relationship

Purpose Drawing from the argument that mobile money services have a significant potential to provide a wide range of affordable, convenient and secure financial services, there have been rampant frauds on consumers of financial products over the digital financial platform. Thus, this study aims to establish the mediating effect of digital consumer protection in the relationship between mobile money adoption and usage and financial inclusion with data collected from micro small and medium enterprises (MSMEs) in northern Uganda. Design/methodology/approach To achieve the main objective of this study, a research model was developed to test for the mediating effect of digital consumer protection in the relationship between mobile money adoption and usage and financial inclusion. The data were collected from MSMEs and structural equation modelling in partial least square (PLS) combined with bootstrap was applied to analyze and test the hypotheses of this study. The direct and indirect effect of mobile money adoption and usage on financial inclusion was tested through digital consumer protection as a mediator variable. Findings The findings from the PLS-structural equation modelling (SEM) showed that mobile money adoption and usage has both direct and indirect effect on financial inclusion. Moreover, financial inclusion is influenced by both mobile money adoption and usage and digital consumer protection. Research limitations/implications The study used partial least square (PLS-SEM) combined with bootstrap confidence intervals through a formative approach to establish the mediating effect of the mediator variable. Hence, it ignored the use of covariance-based SEM and the MedGraph programme. Furthermore, data were collected from samples located in Gulu district, northern Uganda and specifically from MSMEs. This limits generalization of the study findings to other population who also use mobile money services. Practical implications Promoters of digital financial services, managers of telecommunication companies, and financial inclusion advocates should consider strengthening the existing digital consumer protection laws on the mobile money platform. A collaborative approach between the mobile network operators, financial institutions and regulators should tighten the existing laws against mobile money fraudsters and an efficient mechanism for recourse, compensation and remedy should be set up to benefit the victims of frauds and cybercrime on the Fintech ecosystem. Originality/value The current study gives a useful insight into the critical mediating role of digital consumer protection as a cushion for promoting financial inclusion through mobile phones over the Fintech that face great threat and risk from cyber insecurity.

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