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 Analisis Pengaruh Investment Opportunity Set, Kebijakan Hutang, Profitabilitas dan Kepemilikan Manajerial Terhadap Kebijakan Dividen dan Nilai Perusahaan (Studi Pada Perusahaan yang Terdaftar Dalam Indeks Papan Utama BEI Tahun 2009 – 2016)

2019 ◽  
Vol 28 (1) ◽  
pp. 29-44
Author(s):  
Yuliastanti Nugrahandini ◽  
Irene Rini Demi Pangestuti ◽  
Soegiono Soegiono
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Investment Opportunity ◽  
Tobin's Q ◽  
Investment Opportunity Set ◽  
Negative Effect

To obtain maximum returns, prospective investors must have knowledge of the fundamental aspects to be able to place their investments appropriately in the issuer's companies in the capital market. This study aims to examine whether the investment opportunity set, debt policy, profitability and managerial ownership influence the firm value by using dividend policy as an intervening variable. The sample used in this study consisted of 20 companies listed on the Main Board of IDX in the period from 2009-2016. The analysis technique used is Partial Least Square Structural Equation Modeling (PLS-SEM). The results of the study show that IOS has a negative effect on DPR and ROA has a positive effect on the DPR. While other variables did not significantly influence the DPR. The influence of IOS, ROA, and manajerial ownership significantly positive on Tobin's Q while DAR, Size and DPR had a significantly negative effect on Tobin's Q. Based on the VAF test, the DPR mediated IOS by 17.17% and mediated ROA by -4.46% or less than 20 % so that it can be concluded that there is almost no mediating role of the DPR on the relationship of IOS and ROA to the firm value.

scholarly journals PENGARUH INTELLECTUAL CAPITAL DAN CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI

2021 ◽  
Vol 4 (1) ◽  
pp. 426-436
Author(s):  
Anisa Hediyanti Muasiri ◽  
◽  
Erna Sulistyowati ◽  
Keyword(s):  
Corporate Governance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Structural Equation ◽  
Secondary Data ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Analysis Technique ◽  
Modeling Data

This study aims to test the influence of intellectual capital and corporate governance on firm value with profitability as a moderating variable. The population of this study is banking companies listed on IDX during 2015 –2019 amounted to 45 companies. Sampling techniques using purposive sampling so that research samples obtained as many as 15 companies. The research data used is secondary data obtained from the annual report and GCG reportof banking companies listed on IDX during 2015 –2019. This study uses structural equation modeling data analysis technique –partial least square (SEM-PLS) with WarpPLS 7.0 software. The result of this study shows that: (1) Intellectual capital positively and significantly affects the firm value, (2) Corporate governance has no effect on the firm value, (3) Profitability can moderate the influence of intellectual capital on the firm value, (4) Profitability can’t moderate the influence of corporate governance on the firm value.Keywords: Intellectual Capital, Corporate Governance, Firm Value, Profitability

scholarly journals Analysis of Banking Risk, Good Corporate Governance, Capital and Earning Influences on the Indonesia’s Commercial Bank Performances

2021 ◽  
Author(s):  
M. Nuruddin Subhan
Keyword(s):  
Corporate Governance ◽  
Commercial Bank ◽  
Commercial Banks ◽  
Structural Equation ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Good Corporate Governance ◽  
Bank Soundness

This study aims to analyze the effect of commercial bank soundness in Indonesia based on Bank Indonesia regulation number 13/24/DPNP date 25 October 2011, which concern on the implementation guide for Bank Regulation in Indonesia number 13/1/PBI/ 2011 on assessment of bank healthy. In general, those assessments cover risks, good corporate governance (GCG), earning and capital. While, the performance of commercial bank is measured based on credit growth and profit growth. A total of 45 commercial banks listed on the Indonesia Stock Exchange are the population of the study which will be analyzed using the structural equation modeling program - partial least square (SEM-PLS). The results show that credit risk, GCG and earnings have no effect on bank’s performance in Indonesia. Market risk, liquidity risk and capital negatively affect the performance of commercial banks in Indonesia. This research is expected to contribute to the policy making of central banks and also commercial bank organization in particular to improve their performance. This research also contributes to the theory by enriching the discussion on related themes.

scholarly journals Analysis of Banking Risk, Good Corporate Governance, Capital and Earning Influences on the Indonesia’s Commercial Bank Performances

2021 ◽  
Vol 4 (2) ◽  
Author(s):  
M. Nuruddin Subhan ◽  
Keyword(s):  
Corporate Governance ◽  
Commercial Bank ◽  
Commercial Banks ◽  
Structural Equation ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Good Corporate Governance ◽  
Bank Soundness

This study aims to analyze the effect of commercial bank soundness in Indonesia based on Bank Indonesia regulation number 13/24/DPNP date 25 October 2011, which concern on the implementation guide for Bank Regulation in Indonesia number 13/1/PBI/ 2011 on assessment of bank healthy. In general, those assessments cover risks, good corporate governance (GCG), earning and capital. While, the performance of commercial bank is measured based on credit growth and profit growth. A total of 45 commercial banks listed on the Indonesia Stock Exchange are the population of the study which will be analyzed using the structural equation modeling program - partial least square (SEM-PLS). The results show that credit risk, GCG and earnings have no effect on bank’s performance in Indonesia. Market risk, liquidity risk and capital negatively affect the performance of commercial banks in Indonesia. This research is expected to contribute to the policy making of central banks and also commercial bank organization in particular to improve their performance. This research also contributes to the theory by enriching the discussion on related themes.

scholarly journals Peran Kinerja Keuangan dalam Memediasi Islamic Corporate Governance terhadap Fraud

2021 ◽  
Vol 6 (1) ◽  
pp. 418
Author(s):  
Siti Juariah ◽  
Dinnul Alfian Akbar ◽  
Titin Hartini
Keyword(s):  
Corporate Governance ◽  
Structural Equation Modeling ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Good Corporate Governance ◽  
Illegal Acts

Fraud dapat didefinisikan sebagai penyimpangan atau perbuatan melanggar hukum (Illegal Acts) yang dilakukan dengan sengaja, untuk tujuan tertentu Penipuan dalam pandangan Islam adalah perbuatan tercela, karena sudah merugikan orang lain. Jika manusia melakukan penipuan maka orang tersebut tidak menghargai kejujuran dalam mencapai suatu tujuan. Penelitian ini bertujuan untuk menganalisis pengaruh variabel independen yaitu Shariah Compliance terhadap Fraud sedangkan Kinerja Keuangan sebagai variabel mediator. Penelitian ini menggunakan data sekunder yang berasal dari Laporan Tahunan dan Laporan Good Corporate Governance 2015-2019 Perbankan Syariah yang terdaftar di Bank Indonesia. Penelitian ini menggunakan software Structural Equation Modeling (SEM), khususnya Partial Least Square (PLS). Hasil penelitian ini adalah: Islamic Corporate Governance berpengaruh negatif terhadap Fraud; Islamic Corporate Governance berpengaruh signifikan positif terhadap Kinerja Keuangan; Kinerja Keuangan berpengaruh signifikan negatif terhadap Fraud; dan Kinerja Keuangan Memediasi pengaruh Islamic Corporate Governance terhadap Fraud. Jenis penelitian yang digunakan adalah penelitian kuantitatif dengan pendekatan penelitian asosiatif atau relasional. Populasi dalam penelitian ini adalah seluruh karyawan tetap PT. Musi Hutan Persada Provinsi Sumatera Selatan yang berjumlah 108 orang. Pengambilan sampel yang digunakan oleh peneliti adalah sampling sensus yang diperoleh 50 responden. Teknik analisis data yang digunakan adalah regresi berganda yang diolah dengan menggunakan SPSS. Hasil penelitian menunjukkan bahwa Serikat Pekerja dan Hubungan Industrial berpengaruh positif dan signifikan terhadap Kesejahteraan Karyawan Tetap pada PT. Musi Hutan Persada Provinsi Sumatera Selatan.

KINERJA LINGKUNGAN TERHADAP KINERJA KEUANGAN SERTA IMPLIKASINYA TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 3 (1) ◽  
pp. 41
Author(s):  
Khairiyani Khairiyani ◽  
Novi Mubyarto ◽  
Agustina Mutia ◽  
Anzu Elvia Zahara ◽  
G.W.I. Awal Habibah
Keyword(s):  
Structural Equation Modeling ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Purposive Sampling

Penelitian ini bertujuan untuk menguji pengaruh kinerja lingkungan terhadap kinerja keuangan serta implikasinya terhadap nilai perusahaan. Kinerja lingkungan diproksikan oleh PROPER yang dinilai oleh Kementerian Lingkungan dalam melakukan pengembangan kinerja lingkungan di Indonesia. Kinerja keuangan direfleksikan oleh ROA dan ROE. Nilai perusahaan direfleksikan oleh harga saham, PBV dan Tobin’s Q. Penelitian ini menggunakan 12 perusahaan sampel yang listing di BEI dan mengikuti program PROPER selama 2015-2017. Sampel ditentukan dengan purposive sampling. Metode analisis data yang digunakan adalah Structural Equation Modeling-Partial Least Square (SEM-PLS) dengan Smart-PLS versi 3. Hasil menunjukkan bahwa kinerja lingkungan yang direfleksikan oleh PROPER berpengaruh terhadap kinerja keuangan yang direfleksikan oleh ROA dan ROE. Kinerja lingkungan (PROPER) berpengaruh terhadap nilai perusahaan yang direfleksikan oleh PBV dan Tobin’s Q. Kinerja keuangan (ROA dan ROE) berpengaruh terhadap nilai perusahaan (PBV dan Tobin’s Q). Hal ini mengindikasikan bahwa kinerja keuangan mampu memediasi pengaruh kinerja lingkungan terhadap nilai perusahaan pertambangan yang mengikuti program PROPER selama tahun 2015-2017.

scholarly journals MEDIATION OF PROFITABILITY ON CORPORATE SOCIAL RESPONSIBILITY TO FIRM VALUE

2021 ◽  
Vol 13 (2) ◽  
pp. 51-58
Author(s):  
Siti Nurul Faizah ◽  
Dharma Tintri Ediraras
Keyword(s):  
Economic Performance ◽  
Environmental Performance ◽  
Firm Value ◽  
Agricultural Sector ◽  
Social Performance ◽  
Partial Least Square ◽  
Least Square ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Return On Equity

The study aims to test and analyze the influence of CSR as measured by Economic Performance, Environmental Performance, and Social Performance on Firm Value measured using Tobin’s Q with profitability as a mediation variable. The object of this research is the information communication sector, health sector, agricultural sector, electricity sector, and real estate sector, and they were analyzed with statistical methods used is Partial Least Square (PLS). The results of this study showed that Economic Performance, Environmental Performance, and Social Performance had no effect on Return on Equity (ROE) and Tobin’s Q, while Return on Equity (ROE) had an effect on Tobin’s Q either.

scholarly journals Keputusan Investasi, Leverage, Profitabilitas, dan Ukuran Perusahaan Sebagai Faktor Penentu Nilai Perusahaan Manufaktur

2020 ◽  
Vol 19 (1) ◽  
pp. 10-23
Author(s):  
I Made Purba Astakoni ◽  
I Wayan Wardita
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Hypothesis Test ◽  
Investment Decisions ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Test Results ◽  
Significant Positive Effect ◽  
Positive Effect

Abstract-The purpose of this study is 1) to find out and analyze the effect of investment decisions on firm value, 2) to find out and analyze the effect of leverage on firm value, 3) to find out and analyze the effect of profitability on firm value; 4) to find out and analyze the effect of company size on company value. The population in this study are cosmetics and household use manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2011-2018. Sampling was done purposively with predetermined criteria. The data analysis of this study uses the Partial Least Square (PLS) approach. PLS is a Structural Equation Modeling (SEM) equation model based on components or variants. Based on the hypothesis test, the first hypothesis is obtained; which states that investment decision variables have a significant positive effect on firm value is acceptable. Second hypothesis test results; which states that leverage has a significant positive effect on firm value is acceptable. Third hypothesis test results; which states profitability has a significant positive effect on firm value is acceptable. The fourth hypothesis test results; which states that company size has a significant positive effect on the value of the company can not be accepted (rejected). The result of the model accuracy test by looking at R Square Adjusted which contributed the model in explaining the structural relationship of the studied variables was 0.604 (or 60.40%). Keywords: Investment Decisions; Leverage; Profitability; Firm Size and Firm Value. Abstrak-Tujuan dari studi ini adalah 1) untuk mengetahui dan menganalisis pengaruh keputusan investasi terhadap nilai perusahaan,2) untuk mengetahui dan menganalisis pengaruh leverage terhadap nilai perusahaan, 3) untuk mengetahui dan menganalisis pengaruh profitabilitas terhadap nilai perusahaan; 4) untuk mengetahui dan menganalisis pengaruh ukuran perusahaan terhadap nilai perusahaan. Populasi dalam studi ini adalah perusahaan manufaktur sektor kosmetik dan keperluan rumah tangga yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2018. Pengambilan sampel dilakukan secara purposive dengan kriteria yang telah ditetapkan sebelumnya. Analisis data studi ini menggunakan pendekatan Partial Least Square (PLS). PLS adalah model persamaan Structural Equation Modeling (SEM) yang berbasis komponen atau varian. Berdasarkan uji hipotesis yang dilakukan didapat hipotesis pertama ; yang menyatakan variabel keputusan investasi berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis kedua ; yang menyatakan leverage berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis ketiga ; yang menyatakan profitabilitas berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis keempat ; yang menyatakan ukuran perusahaan berpengaruh signifikan positif terhadap nilai perusahaan tidak dapat diterima (ditolak). Hasil uji ketepatan model dengan melihat R Square Adjusted yang memberi kontribusi model dalam menjelaskan hubungan struktural variabel yang diteliti adalah sebesar 0,604 (atau 60,40%). Kata kunci: Keputusan Investasi; Leverage; Profitabilitas; Ukuran perusahaan dan Nilai perusahaan

Corporate Governance, Corporate Environmental Disclosure Dan Firm Value

2020 ◽  
Vol 5 (7) ◽  
pp. 451
Author(s):  
Puteri Kamilla
Keyword(s):  
Corporate Governance ◽  
Structural Equation Model ◽  
Firm Value ◽  
Structural Equation ◽  
Annual Report ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square ◽  
Environmental Disclosure ◽  
Sustainability Report

Upaya global untuk mencapai hal yang lebih berkelanjutan tidak dapat dicapai tanpa keterlibatan aktif dari komunitas bisnis. Tantangan bagi bisnis adalah untuk secara strategis melibatkan environmental disclosure dalam tata kelola perusahaan mereka yang lebih luas, sehingga menciptakan nilai perusahaan yang baik dengan corporate governance yang efektif dan environmental disclosure yang lebih tinggi. Penelitian ini menguji pengaruh corporate governance terhadap firm value dengan corporate environmental disclosure sebagai variabel intervening. Indeks GRI digunakan untuk mendapatkan nilai corporate environmental disclosure dan penilaian firm value menggunakan rasio Tobins Q. Analisis data berdasarkan annual report dan sustainability report perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada tahun 2018. Penelitian ini menggunakan teknik Structural Equation Model-Partial Least Square (SEM-PLS) dengan aplikasi software WarpPLS 5.0 untuk menganalisis data. Corporate environmental disclosure yang lebih tinggi memberikan firm value yang lebih baik. Hasil penelitian menyatakan bahwa ukuran dewan direksi, proporsi gender dewan direksi, latar belakang etnis direktur utama dan frekuensi jumlah rapat dewan direksi memiliki pengaruh terhadap corporate environmental disclosure ataupun firm value. Selain itu, ukuran dewan direksi dan frekuensi jumlah rapat dewan direksi memiliki hubungan positif terhadap firm value melalui corporate environmental disclosure. Sebaliknya, variabel lain dari corporate governance memberikan hasil yang berbeda atau tidak berpengaruh terhadap corporate environmental disclosure dan firm value. Hasil tersebut membantu perusahaan dalam mengevaluasi implementasi dari corporate governance dan environmental disclosure untuk dapat meningkatkan firm value.

The Effect of Growth and Systematic Risk on the Firm’s Value: Profitability as a Mediating Variable

2021 ◽  
Vol 23 (3) ◽  
Author(s):  
Mulyanto Nugroho ◽  
Abdul Halik
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Systematic Risk ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Equation Modeling ◽  
Significant Positive Effect ◽  
The Impact ◽  
Positive Effect

This research aimed to examine the impact of growth and systematic risk on company value, mediated by profitability in insurance companies listed on the Indonesia Stock Exchange (IDX). There are 88 companies in the financial sector in the insurance sub-sector listed on the IDX. They were taken as the population by using the purposive sampling technique. The sample of this study consisted of fourteen insurance companies. The data is analyzed using partial least square structural equation modeling (PLS-SEM). It was found that growth has a significant positive effect on profitability, and profitability has a significant positive effect on firm value. It means that profitability fully mediates the effect of growth on firm value. On the contrary, growth does not have a significant direct effect on firm value. Systematic risk has no significant effect on profitability and firm value. These findings are expected to have a good impact on investors and firms’ managers in Indonesia by looking at the growth and its impact on current corporate values.

Sign in / Sign up

Export Citation Format

Share Document