Good Corporate Governance, Coorporate Social Responsibility, Leverage dan Nilai Perusahaan Manufaktur
Abstract
This study aims to examine the effect of good corporate governance on disclosure of corporate social responsibility and leverage on firm value. The elements of good corporate governance are proxied to be the board of commissioners, independent commissioners, board of directors, and audit committee in manufacturing companies in the consumer goods industry listed on the Indonesia Stock Exchange in 2016-2019. The sample was selected using the purposive sampling technique, analyzed by multiple linear regression. Results show good corporate governance as proxied by board of commissioners, independent commissioners, and audit committee affects firm value. However, the board of directors does not affect company value. Corporate social responsibility and leverage affects firm value.
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References
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Danso, A., Lartey, T. ., Gyimah, D., & Adu-Ameyaw, E. (2021). Leverage and performance: do size and crisis matter? Publisher: Emerald Publishing Limited Copyright © 2020, Emerald Publishing Limited Related articles Dynamic performance, financial leverage and financial crisis: evidence from GCC countries Rami Zeitun . Managerial Finance, 47(5), 635–655.
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Fajaria, A. Z. (2018). The Effect of Profitability, Liquidity, Leverage and Firm Growth of Firm Value with its Dividend Policy as a Moderating Variable. International Journal of Managerial Studies and Research, 6(10), 55–69. https://doi.org/10.20431/2349-0349.0610005
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Hendratama, T. D., & Huang, Y.-C. (2021). Corporate social responsibility, firm value and life cycle: evidence from Southeast Asian countries. Journal of Applied Accounting Research, 1(1), 1. https://doi.org/https://doi.org/10.1108/JAAR-09-2020-0194
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Isnalita, & Narsa, I. M. (2017). CSR Disclosure, Customer Loyalty, and Firm Values (Study at Mining Company Listed in Indonesia Stock Exchange). Asian Journal of Accounting Research, 2(2), 8–14. https://doi.org/10.1108/ajar-2017-02-02-b002
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Novari, P., & Lestari, P. (2016). Pengaruh Ukuran Perusahaan, Leverage, Dan Profitabilitas Terhadap Nilai Perusahaan Pada Sektor Properti Dan Real Estate. E-Jurnal Manajemen Universitas Udayana, 5(9), 252428.
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Rahardjo, B. T., & Murdani, R. (2016). Pengaruh Kinerja Keuangan Dan Pengungkapan Corporate Social Responsibility Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Bumn Yang Terdaftar Di Bei Tahun 2010-2014). Jurnal Akuntansi Dan Bisnis Krisnadwipayana, 3(01), 1–9. https://doi.org/10.35137/jabk.v3i01.54
Santosa, P. W. (2020). The moderating role of firm size on financial characteristics and islamic firm value at indonesian equity market. Business: Theory and Practice, 21(1), 391–401. https://doi.org/10.3846/btp.2020.12197
Suhadak, S., Kurniaty, K., Handayani, S. R., & Rahayu, S. . (2019). Stock return and financial performance as moderation variable in influence of good corporate governance towards corporate value. Asian Journal of Accounting Research, 4(1), 18–34. https://doi.org/https://doi.org/10.1108/AJAR-07-2018-0021
Surjadi, C., & Rudolf, L. T. (2016). Efek Moderasi Ukuran Perusahaan Pada Pengaruh Good Corporate Governance Terhadap Nilai Perusahaan (Studi pada Perusahaan-Perusahaan Emiten yang Terdaftar Pada LQ 45 Periode Agustus 2014 s/d Januari 2015). Manajemen Bisnis Kompetensi, 11(2), 69–78.
Suwardika, I., & Mustanda, I. (2017). Pengaruh Leverage, Ukuran Perusahaan, Pertumbuhan Perusahaan, Dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Properti. E-Jurnal Manajemen, 6(3), 1248–1277.
Tahu, G. P., & Susilo, D. D. B. (2017). Effect of Liquidity , Leverage and profitability to The Firm Value ( Dividend Policy as Moderating Variable ) in Manufacturing Company of Indonesia Stock Exchange. Research Journal of Finance and Accounting, 8(18), 89–98.
Bajic, S., & Yurtoglu, B. (2018). Which aspects of CSR predict firm market value? Journal of Capital Markets Studies, 2(1), 50–69.
Dalci, I. (2018). Impact of financial leverage on profitability of listed manufacturing firms in China. Pacific Accounting Review, 30(4), 410–432.
Danso, A., Lartey, T. ., Gyimah, D., & Adu-Ameyaw, E. (2021). Leverage and performance: do size and crisis matter? Publisher: Emerald Publishing Limited Copyright © 2020, Emerald Publishing Limited Related articles Dynamic performance, financial leverage and financial crisis: evidence from GCC countries Rami Zeitun . Managerial Finance, 47(5), 635–655.
Dwija Putri, I. G. A. M. A., Ulupui, I. G. K. ., & Wirawati, N. G. P. (2017). Pengaruh Good Corporate Governance dan Budaya Tri Hita Karana Pada Kinerja Bank Perkreditan Rakyat. Jurnal Ilmiah Akuntansi Dan Bisnis, 1(1), 17. https://doi.org/10.24843/jiab.2017.v12.i01.p03
ElKelish, W. W. (2018). Corporate governance risk and the agency problem. Corporate Governance, 18(2), 254–269. https://doi.org/https://doi.org/10.1108/CG-08-2017-0195
Fajaria, A. Z. (2018). The Effect of Profitability, Liquidity, Leverage and Firm Growth of Firm Value with its Dividend Policy as a Moderating Variable. International Journal of Managerial Studies and Research, 6(10), 55–69. https://doi.org/10.20431/2349-0349.0610005
Fiadicha, F., & Hanny, R. Y. (2016). Good corporate governance, corporate social responsibility. Jurnal Akuntansi Manajerial, 1(1), 22–45.
Hendratama, T. D., & Huang, Y.-C. (2021). Corporate social responsibility, firm value and life cycle: evidence from Southeast Asian countries. Journal of Applied Accounting Research, 1(1), 1. https://doi.org/https://doi.org/10.1108/JAAR-09-2020-0194
Ibrahim, U. A. (2020). Effect of Financial Leverage on Firm Value: Evidence From Selected Firms Quoted on the Nigerian Stock Exchange. European Journal of Business and Management, 12(3), 124–135. https://doi.org/10.7176/ejbm/12-3-16
Isnalita, & Narsa, I. M. (2017). CSR Disclosure, Customer Loyalty, and Firm Values (Study at Mining Company Listed in Indonesia Stock Exchange). Asian Journal of Accounting Research, 2(2), 8–14. https://doi.org/10.1108/ajar-2017-02-02-b002
Juniarti. (2020). Does mandatory CSR provide long-term benefits to shareholders? Social Responsibility Journal, 1(1), 1.
Kamaliah. (2020). Disclosure of corporate social responsibility (CSR) and its implications on company value as a result of the impact of corporate governance and profitability. International Journal of Law and Management, 62(4), 339–354. https://doi.org/https://doi.org/10.1108/IJLMA-08-2017-0197
Lastanti, H. S., & Salim, N. (2019). Pengaruh Pengungkapan Corporate Social Responsibility, Good Corporate Governance, Dan Kinerja Keuangan Terhadap Nilai Perusahaan. Jurnal Akuntansi Trisakti, 5(1), 27. https://doi.org/10.25105/jat.v5i1.4841
Mahrani, M., & Soewarno, N. (2018). The effect of good corporate governance mechanism and corporate social responsibility on financial performance with earnings management as mediating variable. Asian Journal of Accounting Research, 3(1), 41–60. https://doi.org/https://doi.org/10.1108/AJAR-06-2018-0008
Marini, Y., & Marina, N. (2019). Pengaruh Good Corporate Governance Terhadap Nilai Perusahaan. Jurnal Humaniora : Jurnal Ilmu Sosial, Ekonomi Dan Hukum, 1(1), 7–20. https://doi.org/10.30601/humaniora.v1i1.37
Min, M., Desmoulins-Lebeault, F., & Esposito, M. (2017). Should pharmaceutical companies engage in corporate social responsibility? Journal of Management Development, 36(1), 58–70. https://doi.org/https://doi.org/10.1108/JMD-09-2014-0103
Novari, P., & Lestari, P. (2016). Pengaruh Ukuran Perusahaan, Leverage, Dan Profitabilitas Terhadap Nilai Perusahaan Pada Sektor Properti Dan Real Estate. E-Jurnal Manajemen Universitas Udayana, 5(9), 252428.
Putri, I., & Suprasto, H. B. (2016). Pengaruh Tanggung Jawab Sosial Perusahaan Dan Mekanisme Tata Kelola Perusahaan Terhadap Nilai Perusahaan. E-Jurnal Akuntansi, 1(1), 1.
Rahardjo, B. T., & Murdani, R. (2016). Pengaruh Kinerja Keuangan Dan Pengungkapan Corporate Social Responsibility Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Bumn Yang Terdaftar Di Bei Tahun 2010-2014). Jurnal Akuntansi Dan Bisnis Krisnadwipayana, 3(01), 1–9. https://doi.org/10.35137/jabk.v3i01.54
Santosa, P. W. (2020). The moderating role of firm size on financial characteristics and islamic firm value at indonesian equity market. Business: Theory and Practice, 21(1), 391–401. https://doi.org/10.3846/btp.2020.12197
Suhadak, S., Kurniaty, K., Handayani, S. R., & Rahayu, S. . (2019). Stock return and financial performance as moderation variable in influence of good corporate governance towards corporate value. Asian Journal of Accounting Research, 4(1), 18–34. https://doi.org/https://doi.org/10.1108/AJAR-07-2018-0021
Surjadi, C., & Rudolf, L. T. (2016). Efek Moderasi Ukuran Perusahaan Pada Pengaruh Good Corporate Governance Terhadap Nilai Perusahaan (Studi pada Perusahaan-Perusahaan Emiten yang Terdaftar Pada LQ 45 Periode Agustus 2014 s/d Januari 2015). Manajemen Bisnis Kompetensi, 11(2), 69–78.
Suwardika, I., & Mustanda, I. (2017). Pengaruh Leverage, Ukuran Perusahaan, Pertumbuhan Perusahaan, Dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Properti. E-Jurnal Manajemen, 6(3), 1248–1277.
Tahu, G. P., & Susilo, D. D. B. (2017). Effect of Liquidity , Leverage and profitability to The Firm Value ( Dividend Policy as Moderating Variable ) in Manufacturing Company of Indonesia Stock Exchange. Research Journal of Finance and Accounting, 8(18), 89–98.
Published
2024-05-23
How to Cite
MURIA SIDDHI, Putri Ari Prabandari; PUTRI, I Gusti Ayu Made Asri Dwija.
Good Corporate Governance, Coorporate Social Responsibility, Leverage dan Nilai Perusahaan Manufaktur.
E-Jurnal Akuntansi, [S.l.], v. 34, n. 5, may 2024.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/72179>. Date accessed: 14 nov. 2024.
doi: https://doi.org/10.24843/EJA.2024.v34.i05.p16.
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