THE EFFECTS OF CAPITAL STRUCTURE AND GOOD CORPORATE GOVERNANCE ON DIVIDEND POLICY AND FIRM VALUE An Empirical Research at Banks Listed in Indonesia Stock Exchange for the Period of 2008-2012

<pre>The objective of this study is empirically identify the impacts of Good Corporate Governance and capital structure on firm value with financial performance as intervening variable. We operate quantitative approach within the scope of manufacturing company of metal, chemical, and plastic packaging sector which listed in Indonesia Stock Exchange during the 2017-2018 periods as the population. Samples are chosen by purposive sampling method inwhich the company must report the financial statement in a row, obtained 79 observations. The data analysis technique used is financial ratio analysis to determine the condition of the business financial ratios of the variables studied. Data were analyzed using multiple linear regression analysis. The result shows that corporate governance and capital structure influence the firm value, moreover the use of institutional ownership ratio and capital structure will increase the value of the firm. The result also shows that the impact of Corporate governance and capital structure on the company value are mediated by financial performance. It means that the value of the firm can increase if the company able became an effective monitoring tool.</pre>

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Pengaruh Leverage Dan Good Coorporate Governance Terhadap Nilai Perusahaan Melalui Kebijakan Dividen

Gorontalo Accounting Journal ◽

10.32662/gaj.v3i2.1121 ◽

2020 ◽

Vol 3 (2) ◽

pp. 158

Author(s):

Wati Rosmawati

Keyword(s):

Corporate Governance ◽

Direct Effect ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Financial Statement ◽

Corporate Value ◽

Good Corporate Governance ◽

Significant Direct Effect

Purpose of this study is to analyze the influence of leverage and good corporate governance on firm value using dividend policy as an intervening variable. The sample of this research is BUMN listed on the Indonesia Stock Exchange with the 2014-2018 financial statement period. From the results of the study found that there is no direct effect of leverage on dividend policy. There is a significant direct effect on leverage on firm value. Good corporate governance directly has no significant effect on corporate value. Dividend policy directly does not have a significant effect on firm value. Leverage through dividend policy has no significant effect on firm value. Good corporate governance through dividend policy has a significant effect on firm value.

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PERAN PROFITABILITAS DAN GOOD CORPORATE GOVERNANCE DALAM MEMEDIASI PENGARUH STRUKTUR MODAL DAN PERTUMBUHAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (STUDI EMPRIS PERUSAHAAN PROPERTY DAN REAL ESTATE DI BURSA EFEK INDONESIA TAHUN 2013-2016)

Fokus Ekonomi : Jurnal Ilmiah Ekonomi ◽

10.34152/fe.13.2.210-235 ◽

2018 ◽

Vol 13 (2) ◽

pp. 210-235

Author(s):

Ahmad Sahri Romadon ◽

Heru Sulistiyo ◽

Sam’ani Sam’ani

Keyword(s):

Corporate Governance ◽

Real Estate ◽

Capital Structure ◽

Firm Value ◽

Stock Exchange ◽

Significant Positive Effect ◽

Company Value ◽

Good Corporate Governance ◽

Negative Effect ◽

Positive Effect

This research is about the value of property and real estate companies in Indonesia Stock Exchange 2013 to 2016. The purpose is to analyze Profitability and Good Corporate Governance in mediating the influence of Capital Structure and Corporate Growth on company value. Methods of data analysis using multiple regression and test to test the hypothesis sobel. Population in this research is property and real estate company listed in Indonesia Stock Exchange 2013 until 2016. Samples in this research selected through purposive sampling, so that obtained by sample as many as 80 companies. The result shows that capital structure has a significant negative effect on profitability, company growth has a significant positive effect on profitability. Capital structure has a significant positive effect on Good Corporate Governance, Corporate Growth has negative effect is not significant to Good Corporate Governance. Capital structure has a significant positive effect on firm value, company growth has negative effect not significant to firm value. Profitability has a significant positive effect on corporate value and Good Corporate Governance negatively influence not significant to company value. Profitability mediates negatively the influence of capital structure on firm value and positively positive significant growth of the firm against firm value. Good Corporate Governance does not mediate the influence of capital structure and firm growth on firm value

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THE EFFECT OF PROFITABILITY, CAPITAL STRUCTURE, AND IMPLEMENTATION OF CORPORATE GOVERNANCE MECHANISM ON FIRM VALUE

Jurnal Akuntansi Trisakti ◽

10.25105/jat.v6i1.4872 ◽

2019 ◽

Vol 6 (1) ◽

pp. 83

Author(s):

Rina Hartanti ◽

Fahri Yulandani ◽

M Rizky Riandi

Keyword(s):

Corporate Governance ◽

Capital Structure ◽

Firm Value ◽

Stock Exchange ◽

Managerial Ownership ◽

Governance Mechanism ◽

Good Corporate Governance ◽

Regression Approach ◽

Corporate Governance Mechanism ◽

Positive Effect

The purpose of this study is to explain the effect of Profitability, Capital Structure, and the application of Good Corporate Governance to Firm Value. The population of the study includes companies registered in the LQ-45 which are listed on the Indonesia Stock Exchange for the period 2015-2017. The technique of determining the sample used is purposive sampling. This study uses a multiple linear regression approach. Based on the results of testing, this study proves that profitability, capital structure, and the application of the GCG mechanism together affect firm value. This study also proves that partially profitability proxied by ROA and Managerial Ownership has a positive effect on Firm Value. The results showed that capital, which is proxied by DER and GCG, which is proxied by Institutional Ownership, does not have a positive effect on Corporate Value

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Peran Profitabilitas dan Good Corporate Governance dalam Memediasi Pengaruh Struktur Modal Terhadap Nilai Perusahaan

Riset, Ekonomi, Akuntansi dan Perpajakan (Rekan) ◽

10.30812/rekan.v2i1.1121 ◽

2021 ◽

Vol 2 (1) ◽

pp. 61-76

Author(s):

Imam Mujahidin ◽

Luhgiatno Luhgiatno ◽

Eman Sukanto

Keyword(s):

Corporate Governance ◽

Capital Structure ◽

Firm Value ◽

Stock Exchange ◽

Manufacturing Companies ◽

Single Test ◽

Company Value ◽

Good Corporate Governance ◽

Food And Beverage ◽

The Relationship

This study is about the value of the food and beverage sector manufacturing companies in the Indonesia Stock Exchange from 2013 to 2016. The objective is to analyze the effect of Profitability and Good Corporate Governance in mediating the effect of capital structure on firm value. Methods of data analysis using multiple regression and single test to test the hypothesis. The population in this research are food and beverage sector manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018. The sample in this study was selected through purposive sampling, so that a sample of 42 companies was obtained. The result of this research is that capital structure has a negative and significant effect on profitability. Capital structure has a positive and significant effect on Good Corporate Governance (GCG). Capital structure has a positive and significant effect on Firm Value. Profitability has a positive and significant effect on Firm Value. Good Corporate Governance (GCG) has a positive and insignificant effect on Company Value. Profitability cannot mediate the relationship between capital structure and firm value. Good Corporate Governance (GCG) cannot mediate the relationship between capital structure and firm value.

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Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Dengan Moderasi GCG

Jurnal Ekonomi ◽

10.24912/je.v24i3.610 ◽

2020 ◽

Vol 24 (3) ◽

pp. 468

Author(s):

Henny Wirianata

Keyword(s):

Corporate Governance ◽

Capital Structure ◽

Empirical Evidence ◽

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Institutional Ownership ◽

Manufacturing Companies ◽

Good Corporate Governance

The objective of this study is to obtain empirical evidence about the influence of capital structure, profitability, firm size, and good corporate governance (GCG) towards firm value of manufacturing companies listed in Indonesia Stock Exchange period 2016-2018. The data were tested in this research using EVIEWS 10. The results show that capital structure proxies by DER and profitability proxies by NPM have positive and significant effect towards firm value. Meanwhile, profitability proxies by ROA, firm size, and GCG proxies by institutional ownership have negative and significant effects towards firm value. The results also show that institutional ownership could not moderated the effects of capital structure, profitability, and firm size towards firm value of manufacturing companies listed in Indonesia Stock Exchange period 2016-2018.

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PENGARUH KEBIJAKAN DIVIDEN DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN GCG SEBAGAI MODERASI

Jurnal Ilmu Manajemen Universitas Tadulako (JIMUT) ◽

10.22487/jimut.v5i3.164 ◽

2020 ◽

Vol 5 (3) ◽

pp. 330-338

Author(s):

Feby Ashary ◽

Muhammad Yunus Kasim

Keyword(s):

Corporate Governance ◽

Regression Analysis ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Manufacturing Sector ◽

Purposive Sampling ◽

Good Corporate Governance ◽

Panel Data Regression ◽

Data Regression

This study aims to determine the effect of dividend and leverage policy on firm value in manufacturing sector in the Indonesia Stock Exchange (IDX) with good corporate governance as moderating variable for the 2013-2017 period. The population in this study amounted to 130 companies. The research sample of 17 companies using purposive sampling techniques. The analytical tool used is panel data regression with moderate regression analysis (MRA). The results showed that dividend policy (DPR) and leverage (DER) simultaneously had positive and significant effect on firm value (Q). Partial testing shows that dividend policy and leverage have positive and significant effect on firm value. Whereas GCG (KM) as moderating weakens the relationship between dividend policy on firm value and leverage on firm value. Penelitian ini bertujuan untuk mengetahui Pengaruh Kebijakan Dividen dan Leverage Terhadap Nilai Perusahaan Pada Sektor Manufaktur di Bursa Efek Indonesia (BEI) dengan Good Corporate Governance (GCG) Sebagai Variabel Moderasi Periode 2013-2017. Populasi dalam penelitian ini berjumlah 130 perusahaan. Sampel penelitian berjumlah 17 perusahaan dengan menggunakan teknik purposive sampling. Alat analisis yang digunakan ialah regresi data panel dan Moderate Regression Analysis (MRA). Hasil penelitian menunjukkan kebijakan dividen (DPR) dan leverage (DER) secara simultan berpengaruh positif dan signifikan terhadap nilai perusahaan (Q). Pengujian secara parsial menunjukkan kebijakan dividen dan leverage berpengaruh positif dan signifikan terhadap nilai perusahaan. Sedangkan GCG (KM) sebagai moderasi memperlemah hubungan antara kebijakan dividen terhadap nilai perusahaan maupun leverage terhadap nilai perusahaan.

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CASH HOLDING, GOOD CORPORATE GOVERNANCE AND FIRM VALUE

Jurnal Dinamika Manajemen ◽

10.15294/jdm.v7i2.8196 ◽

2016 ◽

Vol 7 (2) ◽

Author(s):

Prana Wahyu Nisasmara ◽

Musdholifah Musdholifah

Keyword(s):

Corporate Governance ◽

Capital Structure ◽

Firm Value ◽

Regression Models ◽

Stock Exchange ◽

Positive Influence ◽

Cash Holding ◽

Good Corporate Governance ◽

Multiple Regression Models ◽

Spss Software

<p>This research aims to understand the influence of profitability, capital structure, cash holding, and GCG (Good Corporate Governance) on firm value. The samples of this study were the property sector and real estate companies listed on Indonesia Stock Exchange (IDX) in the period of 2008-2013. The data used from the annual report company. The methods of data analysis were multiple regression models and analyzed using IBM SPSS software. The results of this study are profitability has no influence on firm value, capital structure has positive influence on firm value, cash holding has no influence on firm value and GCG a has a positive influence on firm value.</p>

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Pengaruh Kinerja Keuangan dan Good Corporate Governance (GCG) Terhadap Nilai Perusahaan

MBIA ◽

10.33557/mbia.v17i2.317 ◽

2019 ◽

Vol 17 (2) ◽

pp. 1-10

Author(s):

Rolia Wahasusmiah

Keyword(s):

Corporate Governance ◽

Firm Value ◽

Sampling Method ◽

Total Population ◽

Annual Report ◽

Stock Exchange ◽

Secondary Data ◽

Positive Influence ◽

Manufacturing Companies ◽

Good Corporate Governance

This study aims to determine the effect of financial performance and good corporate governance (GCG) on the value of companies in manufacturing companies listed on the stock exchange Indonesia. The type of data used is secondary data in the form of annual report 2016. Population used in this study are all companies listed on the Indonesia Stock Exchange (BEI). This research uses purposive sampling method with total population of 144 companies and sample of 31 companies. The results show that simultaneously ROA, OPM, NPM, KM, and KI have a positive influence on firm value. While partially ROA have a positive influence on firm value. While OPM, NPM, KM, and KI have no positive influence on firm value).

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PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING (Studi Pada Perusahaan Perbankan Di Bursa Efek Indonesia)

Distribusi - Journal of Management and Business ◽

10.29303/distribusi.v5i2.36 ◽

2018 ◽

Vol 5 (2) ◽

pp. 45-58

Author(s):

G. A Sri Oktaryani ◽

I Nyoman Nugraha Ardana P ◽

Iwan Kusuma Negara ◽

Siti Sofiyah ◽

I Gede Mandra

Keyword(s):

Corporate Governance ◽

Firm Value ◽

Stock Price ◽

Banking Sector ◽

Negative Impact ◽

Positive Impact ◽

Stock Exchange ◽

Return On Equity ◽

Good Corporate Governance ◽

Significant Direct Effect

This research examines the effect of Good Corporate Governance (GCG) on firm value by using profitability as intervening variable. Profitability is proxied by Return On Asset (ROA) and Return On Equity (ROE). This study used a quantitative approach and path analysis. The population consists of 35 firms that were listed in Banking sector of Indonesian Stock Exchange over period 2013 – 2015. There are 34 firms are choosen as samples which has published GCG composit index throughout observation years and has not done corporate action that could affect the stock price directly. The findings show that GCG has positive and significant direct effect on firm value. Furthermore, ROA has positive impact on firm value; meanwhile ROE has negative impact on firm value. The results also show that the better the implementation of GCG the higher the Return on Asset. Moreover, the indirect effect of GCG on firm value through profitability is not significant. Keywords: GCG, profitability, ROA, ROE, firm value.

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