Corporate Governance and Company Value: A Manufacturing Industry Case Study

Malini, Helma; Natalia, Dyen; Giriati, Giriati

doi:10.31842/jurnalinobis.v4i4.196

Cited by 4 publications

(4 citation statements)

References 22 publications

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“…The positive sign of the regression coefficient indicates a positive relationship between the number of board of commissioners and the firm's worth, implying that an increase in the former tends to result in an increase in the latter. This finding contrasts the statement that the board of commissioners, as the highest supervisor, significantly increases company value (Malini et al, 2021;Oktari et al, 2018). In conditions where Covid-19 is spreading, the board of commissioners, which functions as the highest supervisor of the company (as measured by the size of its members and the independence of the members of the board of commissioners), cannot function effectively.…”

Section: Discussioncontrasting

confidence: 60%

“…The presence of Independent Commissioners is crucial for a company's overall value, as Independent Commissioners can play a role in resolving conflicts by communicating shareholder objectives to the management. As companies face increasing complexity and challenges, internal company commissioners have several limitations, not only in terms of their level of independence but also due to the quality of individual internal commissioners (Malini et al, 2021). The presence of Independent Commissioners is continually reinforced to ensure their effectiveness, often with the support of an Audit Committee (Malini et al, 2021), and studies like (Oktari et al, 2018) have shown that Independent Commissioners do indeed have an impact on firm value.…”

Section: Introductionmentioning

confidence: 99%

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The Role of Company Size and Board of Commissioners on Company Value in Disrupted Economics

Pangaribuan,

Yoewono,

Winarno

2023

WIGA

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The Covid-19 condition that has passed has provided many important lessons and has disrupted the performance and productivity of almost all industries, including manufacturing companies. Such condition has become a challenging task for companies to find solutions to maximize company value to survive, let alone increase in these conditions. Bad like that. This research aims to confirm whether company size, board of commissioners, and Covid-19 conditions significantly affect company value. By taking data from manufacturing companies during the past two years of research during the Covid-19 period, this study uses a descriptive quantitative approach with multiple linear regression analysis techniques and modeling Covid-19 as a moderator. This study uses a purposive sampling method to select manufacturing companies on the Indonesia Stock Exchange. The research data spans two years upon 159 companies, resulting in 318 data points. The research results show that the variables of company size and board of commissioners do not significantly affect company value, but Covid-19 can significantly influence company value. Covid-19 then moderated the company size and board of commissioners variables, and it was discovered that the company size and board of commissioners variables had a significant influence on company value; this demonstrates that Covid-19 has had a devastating effect on company value.

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Section: Discussioncontrasting

confidence: 60%

Section: Introductionmentioning

confidence: 99%

The Role of Company Size and Board of Commissioners on Company Value in Disrupted Economics

Pangaribuan,

Yoewono,

Winarno

2023

WIGA

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“…This study also shows that return on assets can mediate the relationship between the current ratio to price to book value, and return on assets cannot mediate the relationship between debt to equity ratio to price to book value. Helma Malini, Dyen Natalia, Giriati Giriati's (2021) research results show that institutional ownership has a positive effect on Tobin's q and market book value, Tobin's q and market book value is negatively affected by foreign ownership, Board of Commissioners and Audit Committee meetings harm stock price returns, meetings of the board of directors, audit committee, and the board of commissioners have no impact on firm value. Based on these findings, it can be concluded that the results of testing the independent variables on the dependent are not convincing and need to be questioned further.…”

Section: Literature Reviewmentioning

confidence: 99%

Contribution of Return on Assets, Debt to Equity Ratio, and Book Value to Stock Return

Waryati,

Nurwiyanto,

Anisah

et al. 2023

Advances in Economics, Business and Management Research

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This study was conducted to examine the effect of Debt Equity Ratio (DER), Return on Assets (ROA), and Book Value (BV) on stock returns. The sampling technique used was purposive sampling from a population of 30 Food and Beverage industrial companies and seven companies that met the sample criteria. The data was obtained from the publications of the Indonesia Capital Market Directory (ICMD) and the Indonesian stock exchange (Idx). The data analysis method used in this research is multiple regression analysis of panel data. Panel data regression is a regression technique that combines cross-section and time-series data, in which the same cross-sectional unit is measured at different times. The hypothesis tests are the F test (goodness of fit), the t-test, and the coefficient of determination. The results of panel data regression analysis show the regression model is declared feasible or goodness of fit, return on assets has a significant negative effect on stock returns, debt to equity ratio and book value has no impact on stock returns, and the three variables in this study can explain their contribution to stock returns of 37.71 percent.

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“…Research from Alabdullah and Ahmed (2020), Al-Okaily and Naueihed (2020), Azam and Wang (2021), and Özcan (2021) found that there is a positive influence of the audit committees on firm value. Malini et al (2021) failed to find the effect of the audit committee on firm value, while Al-Jalahma (2022) found a negative effect of the audit committee on firm value.…”

Section: Hypotheses Developmentmentioning

confidence: 99%

The Effect of the Audit Committee on the Firm Value of State-Owned Enterprises in Indonesia: The Mediation Role of Financial Performance

Wijaya

Ratnasari

2023

CBR

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The audit committee is important in implementing corporate governance in a company. The aim of this study is to investigate the impact that the audit committee has on the value of the company, with the financial performance of the company serving as a mediating variable. During the 2016-2020 research period, the investigation was carried out at businesses that are part of state-owned enterprises and are registered on Indonesia's capital market. Data analysis in this research uses a path analysis. The research sample was obtained through a population sampling technique. This research found that the audit committee positively affects the company's financial performance. This research also found a positive effect of the financial performance on firm value. The results of path analysis prove that financial performance can act as a variable mediating the influence between the audit committee and firm value in companies in the category of state-owned enterprises registered on Indonesia's capital market. This research proves that the existence of an audit committee can improve a company's financial performance, which indirectly impacts increasing firm value.

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Corporate Governance and Company Value: A Manufacturing Industry Case Study

Cited by 4 publications

References 22 publications

The Role of Company Size and Board of Commissioners on Company Value in Disrupted Economics

The Role of Company Size and Board of Commissioners on Company Value in Disrupted Economics

Contribution of Return on Assets, Debt to Equity Ratio, and Book Value to Stock Return

The Effect of the Audit Committee on the Firm Value of State-Owned Enterprises in Indonesia: The Mediation Role of Financial Performance

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