Determinan Nilai Perusahaan Dengan Kinerja Keuangan Sebagai Variabel Intervening

Abstract

This study aims to show the effect of institutional ownership, audit committee size, and corporate social responsibility (CSR) on firm value with financial performance as the intervening variable. This study uses quantitative methods with secondary data sources in company annual reports. The population of this study is manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2018-2020 period. The sampling technique used purposive sampling to obtain a sample of 74 companies. The data analysis technique used path analysis. The results showed that financial performance had a positive and significant effect on firm value. Institutional ownership and size of the audit committee do not affect financial performance. Meanwhile, CSR has a positive and significant effect on financial performance. Institutional ownership and the size of the audit committee have a positive and significant effect on firm value. At the same time, CSR does not affect the company's value. Institutional ownership does not affect firm value through financial performance. At the same time, the size of the audit committee and CSR affects the company's value through financial performance. This study can reference company management and investors in developing companies and investing.

Disclosure of Carbon Emissions, Covid-19, Green Innovations, Financial Performance, and Firm Value

“…Indirectly, investors do not pay attention to firms that contribute to the increase in carbon emissions. This result is not in line with [38] which states that environmental damage around the firm can occur if the firm only prioritizes the interests of capital owners. Therefore, the firm's awareness and concern for the surrounding environment are needed through the disclosure of carbon emissions.…”

“…According to [38] environmental damage around the firm can occur if the firm only prioritizes the interests of the owners of capital. Therefore, the firm's awareness and concern for the surrounding environment are needed through the carbon emissions publication.…”

“…The image of the firm will increase with the increasing number of forms of corporate responsibility towards the environment. A good corporate image in the community will make investors more interested in investing and loyalty from consumers will be higher so that in the future the firm's sales will improve and the firm's profitability will also increase [38]. With improved profitability, the firm's overall performance might be higher which in turn will increase the value of the enterprise.…”

Firm Size And Financial Performance On Value Of Banking Companies

“…Nilai perusahaan dianggap sebagai ukuran tingkat kesuksesan perusahaan dikarenakan dapat menjamin kemakmuran para investor secara maksimal jika harga saham mengalami peningkatan (Hakim 2019). Manajemen perusahaan melakukan berbagai solusi untuk meningkatkan nilai perusahaan guna dapat meningkatkan kesejahteraan pemilik dan para pemegang saham yang tergambar dalam harga saham (Neliana and Destiana 2021). Nilai perusahaan merupakan sebuah pertimbangan masyarakat terhadap kinerja perusahaan dan dapat diketahui dengan mengukur melalui indikator harga saham (Tiasrini and Utiyati 2020).…”

Institutional Ownership, Tax Planning And Tax Avoidance Effect On Firm Value

“…Manajemen perusahaan ini merupakan kerja sama antara manajer dan pemegang saham untuk mengelola perusahaan dengan baik agar dapat menghasilkan laba yang tinggi. Adapun hasil penelitian yang telah dilakukan oleh Wahyudin, Suratno, and Suyanto (2020); Neliana and Destiana (2021); Febriani and Munawaroh (2022), yaitu, kepemilikan institusional memiliki pengaruh positif dan signifikan terhadap nilai perusahaan. Namun terdapat perbedaan dari hasil penelitian oleh Sari and Wulandari (2021); Azharin and Ratnawati (2022), yang menunjukkan bahwa kepemilikan institusional tidak berpengaruh terhadap nilai perusahaan.…”