EFFECT OF FINANCIAL PERFORMANCE, GOOD CORPORATE GOVERNANCE AND CORPORATE SIZE ON CORPORATE VALUE IN FOOD AND BEVERAGES

Purpose The purpose of this paper is to evaluate how much influence good corporate governance (GCG) has on corporate value, as well as moderating effect of stock return and financial performance on the influence of GCG on corporate value. Design/methodology/approach This study was an explanatory study. The unit of analysis was the companies listed in LQ45 in Indonesian Stock Exchange and the sources of data were ICMD, annual report and financial reports of the companies. Indonesian Stock Exchange was selected as the setting of the study since Indonesian Stock Exchange is one of trading places for various types of companies in Indonesia, and it provides complete information on company’s financial data and stock price. The population was 84 companies listed in LQ45 in Indonesian Stock Exchange between 2010 and 2016. Findings The higher GCG, independent commissioners proportion, institutional managerial and public ownerships resulted in higher corporate value. MBE and PER stock return is a moderating variable in the influence of GCG on corporate value. Financial performance is moderating variable in the influence of GCG on corporate value. Originality/value Based on the previous studies, it may be concluded that there is a gap between the influence of GCG on corporate value and the influence of stock return on financial performance, and moderating variable is needed to evaluate the influence of GCG on company performance, more particularly stock return and financial performance. This discrepancy creates opportunity for conducting an in-depth study on those variables. Its novelty is correlation between stock return and financial performance as moderation. Previous studies used these as mediating variables. This study is going to generate different finding as it is conducted in different setting (country where this study is conducted), type of industry, research period and using different method of analysis.

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PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CSR DAN GCG SEBAGAI VARIABEL PEMODERASI

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v10i2.1018 ◽

2010 ◽

Vol 10 (2) ◽

pp. 41

Author(s):

Hidayatullah ,

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Stock Exchange ◽

Value Added ◽

Corporate Financial Performance ◽

Corporate Value ◽

Moderating Variables ◽

Good Corporate Governance ◽

Relationship Of ◽

The Relationship

This Thesis investigated the influence of financial performance toward corporate value by exposing Corporate Sosial Responsibility (CSR) and Good Corporate Governance (GCG) as Moderating Variables. Corporate Financial performance as independent variable is represented by the Financial Value Added (FVA) and Corporate Value as Dependent Variable is represented by Tobin `s Q value. CSR value is indexed based on the 78 items of exposure themes and GCG value is indexed using the 18 items of exposure themes which the researcher called Corporate Governance Perception Index. After selecting 149 companies listed in Indonesia Stock Exchange, the researcher found 39 manufacture companies. qualified as the research objects based on the defined criteria, with observation timeframe from the year of2005 to 2008. The result of the research concludes that: Financial Performance (FVA) significantly influences the corporate value (Tobins 'Q); Corporate Sosial Responsibility also influences the relationship of corporate financial performance and the corporate value; and Good Corporate Governance influences the relationship of corporate financial performance and the corporate value as well.Keywords: Financial value Added, Tobin 's Q, CSR, GCG

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

Corporate Governance ◽

10.1108/cg-10-2018-0308 ◽

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.

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christiano VOL7 ED.1

10.31219/osf.io/bv42x ◽

2019 ◽

Author(s):

Christiano Lombogia

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Stock Exchange ◽

Financial Statements ◽

Coefficient Of Determination ◽

Tobin’S Q ◽

Corporate Value ◽

Manufacturing Companies ◽

Tobin's Q ◽

Good Corporate Governance

This research is done to know effect of financial performance toward corporate value by using of Good Corporate Governance as a moderating variable. ROA,ROE, And Leverage as an indicator of financial performance is known as the dependent variable. Good Corporate Governance (GCG )is a moderating variable.The companies that are in the research are manufacturing companies which are listed in the Indonesian Stock Exchange (IDX), published financial statements ending December 31, and had complete data of Good Corporate Governance. The data is then processed by using statistical appliance that was called regression with interaction.According to the research financial performance (ROA, ROE and Leverage) by simultan show has an effect on corporate value (Tobin’s Q). Good Corporate Governance (GCG) hasn’t an effect the financial performance (ROA, ROE Leverage) toward the value of the company (Tobin’s Q). The result of coefficient of determination test indicate that all independent variables (ROA, ROE Leverage) can explain the variation of dependent variable (Corporate Value) amount to 44,8%. The result of coefficient of beta test indicate that ROE is most dominant influence to corporate value.

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Good Corporate Governance, Corporate Value, Tax Avoidance and Financial Performance

Journal of Auditing Finance and Forensic Accounting ◽

10.21107/jaffa.v6i2.5020 ◽

2018 ◽

Vol 6 (2) ◽

pp. 71-82

Author(s):

Nurma Risa

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Stock Exchange ◽

Tax Avoidance ◽

Corporate Value ◽

Performance Practices ◽

Good Corporate Governance ◽

Relationship Of ◽

The Relationship ◽

A Company

If a company applies GCG practices it will have an impact on the value of the company. But the implementation of GCG alone is actually not enough to increase the value of the company, there are other things, namely the practice of tax avoidance and financial performance. This study aims to prove that tax avoidance and financial performance practices are intermediary variables in the relationship of GCG to corporate value. The sample of this study is companies that take the IICG survey and have CGPI scores, and are listed on the stock exchange in the period of 2012-2015. Path analysis is used as a method of data analysis. The results of the study show that the GCG practices influence the value of the company indirectly, but through the practice of tax avoidance and financial performance as intermediaries.

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THE EFFECT OF FINACIAL PERFORMNACE TO CORPORATE VALUJE WITH THE DISCLOSURE OF GOOD CORPORATE GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY AS MODERATING VARIABLE

Business and Entrepreneurial Review ◽

10.25105/ber.v13i2.1844 ◽

2017 ◽

Vol 13 (2) ◽

pp. 113

Author(s):

Guido S ◽

Hexana Sri Lastanti ◽

Murtanto Murtanto

Keyword(s):

Corporate Governance ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Financial Performance ◽

Stock Exchange ◽

Corporate Value ◽

Manufacturing Companies ◽

Company Value ◽

Good Corporate Governance ◽

Corporate Social

This research is done to know effects of financial performance toward corporate value by using the disclosure of Good Corporate Governance and Corporate Social Responsibility as a moderating variable. ROA, ROE, and Leverage as an indicator of financial performance is known as the independent variable. Company value measured by Tobin’s is known as the dependent variable. Good Corporate Governance(GCG) and Corporate Social Responsibility (CSR) is moderating variable.The companies that are in this research are manufacturing companies which are listed in the Indonesia Stock Exchange (IDX) starting from 2004 until 2007, published financial statements ending 31 December, and had complete data of Good Corporate Governance and Corporate Social Responsibility. The data is then processed by using statistical appliance that are called regression with interaction.According to the research, the financial performance (ROA and leverage) has an effect on corporate value. Disclosure of Corporate Social Responsibility(CSR) does not affect to financial performance (ROA and Leverage) toward the value of the company. Disclosure of Good Corporate Governance (GCG) affects the financial performance of relationship (ROA and Leverage) toward the value of the company.

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Pengaruh Good Corporate Governance, Modal Intelektual, Ukuran Perusahaan terhadap Kinerja Keuangan pada Perusahaan Makanan

EKONOMIS Journal of Economics and Business ◽

10.33087/ekonomis.v5i1.200 ◽

2021 ◽

Vol 5 (1) ◽

pp. 46

Author(s):

Arief Abdul Aziz ◽

Yuli Chomsatu Samrotun ◽

Riana Rachmawati Dewi

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Intellectual Capital ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Good Corporate Governance ◽

Corporate Size ◽

Food And Beverage ◽

Independent Auditing ◽

The Impact

The purpose of the study is to test the impact of good corporate governance, intellectual capital, and corporate size on food and beverage performance. This study sample is a food and beverage company registered in the Indonesian stock exchange. The analysis used in this study is linked to linear regression analysis. Studies show that good corporate governance consists of a few indicators, these indictments show that the size of the board of commissioners affects financial performance (roa), independent commissioners have no effect on financial performance (roa), and independent auditing committees affect financial performance (roa) and institutional ownership. No influence on financial performance (roa), the manager's ownership has no effect on financial performance (roa), and the committee's size also affects financial performance (roa). Apart from good company governance indicators, intellectual capital has no effect on financial performance (roa), and the company's size also affects financial performance.

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THE IMPACT OF GOVERNANCE EFFECTIVENESS AND COMPANY SIZE ON ENVIRONMENTAL PERFORMANCE

ECONOMICS & ACCOUNTING JOURNAL ◽

10.32493/eaj.v2i2.y2019.p76-85 ◽

2019 ◽

Vol 2 (2) ◽

pp. 76

Author(s):

Irma Paramita Sofia

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Environmental Performance ◽

Sustainability Reporting ◽

Company Size ◽

Good Corporate Governance ◽

Corporate Size ◽

Governance Effectiveness ◽

The Impact ◽

Sustainability Report

In making rational decisions, investors need complete, accurate, and timely information. Companies can disclose information such as the implementation of good corporate governance, financial performance, and sustainability report. This research aims to obtain evidence that good corporate governance and corporate size have an effect on environmental performance. We use sustainability reporting disclosure as a proxy for the environmental achievement of the company. This study indicates that (1) good corporate governance has no effects on environmental performance; (2) corporate size has no effects on sustainability report disclosure.

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IMPLEMENTASI KINERJA KEUANGAN TERHADAP NILAI SPIRITUALITAS PRIBADI

EKUITAS (Jurnal Ekonomi dan Keuangan) ◽

10.24034/j25485024.y2012.v16.i3.2329 ◽

2012 ◽

Vol 16 (3) ◽

pp. 332

Author(s):

Whedy Prasetyo

Keyword(s):

Corporate Governance ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Financial Performance ◽

Annual Report ◽

Main Concern ◽

Good Corporate Governance ◽

Corporate Social ◽

The Relationship ◽

Personal Spirituality

Development of financial performance in the application of Good Corporate Governance and Corporate Social Responsibility which affects the values of honesty private individuals, in order to be able to run the accountability, value for money, fairness in financial management, transparency, control, and free of conflicts of interest (independence). The main concern in this study is focused on achieving value personal spirituality through the financial performance and capabilities of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) in moderating the relationship with the financial performance of value personal spirituality. This study is a descriptive verifikatif. The unit of analysis in this study was 15 companies in Indonesia with a policy that has been applied through the concept since January of 2008 until now, with the support of the annual report of the company, the company's financial statements, company reports to the disclosure of Good Corporate Governance and Corporate Social Responsibility in the annual report. Overall reports published successively during the years 2008-2011. The results of this study indicate financial performance affects the value of personal spirituality, and for variable GCG obtained results that could moderate the relationship of financial performance to the value of personal spirituality. But for the disclosure of CSR variables obtained results can’t moderate the relationship with the financial performance of personal spirituality.

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Analisis Kinerja Keuangan Bank Aceh Setelah Konversi Periode 2016-2018 Berdasarkan Peraturan Otoritas Jasa Keuangan Nomor 8/POJK.03/2014

AT-TAWASSUTH: Jurnal Ekonomi Islam ◽

10.30821/ajei.v4i1.4086 ◽

2019 ◽

Vol 4 (1) ◽

pp. 43

Author(s):

Hanifa Assofia

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Islamic Law ◽

Financial Statements ◽

Risk Profile ◽

Bank Capital ◽

Collection Method ◽

Descriptive Research ◽

Good Corporate Governance ◽

Quantitative Descriptive

This research aims to find out how Bank Aceh's financial performance after conversion in terms of earnings and capital. The type of research used is quantitative descriptive research. The data collection method used is the documentation method based on the data in the form of quarterly financial statements for the 2016-2018 period published. The method of data analysis in this study is by using the RGEC method (Risk Profile, Good Corporate Governance, Earning and Capital). The results of the study show that Bank Aceh's financial performance in terms of profitability ranks 2, with the definition that profitability is adequate, profit exceeds the target and supports the growth of bank capital. Bank Aceh's decision to convert to sharia as a whole was a very appropriate decision because it was able to show good performance, besides that it also supported the Aceh Government in carrying out its programs to enforce Islamic law. Bank Aceh's financial performance in terms of capital also ranks 2, with the definition that banks have adequate capital quality and adequacy relative to their risk profile, which is accompanied by strong capital management in accordance with the characteristics, scale of business and the complexity of the bank's business.

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