This study aims to determine the effect of Enterprise Risk Management (ERM), profitability, leverage, earnings per share and company size on firm value. The method used in this study is the Panel Data Regression with the study population of companies registered in the Jakarta Islamic Index between 2014-2018 period. The sample of this study consists of 13 companies and the data in this study were obtained from the company's annual report from the Indonesia Stock Exchange website. The results showed that profitability and leverage has a positive and significant effect on firm value. And Earning per Share has a negative and significant effect on company value. Meanwhile, Enterprise Risk Management and company size have no significant effect on firm value.Keywords:  firm value, enterprise risk management, profitability, leverage, earning per share, size

This study examines the assessment of Indonesian companies on Corporate Social Responsibility and Corporate Governance on all samples of State-ownership Enterprise listed on the Indonesia Stock Exchange. Analyze further whether these firms have changed tax avoidance activities since 2011-2015 when the Indonesian government enacted stricter auditing of tax regulation along with policy of company being responsibility to stakeholder in around companies. Our findings show that both corporate social responsibility and corporate governance are negatively significant associated with tax avoidance. These results indicate that policy of corporate responsibility can be influence policy of financial reporting through tax behavior. As we know many company will be considering lower tax costs to increase shareholder value through dividing profit after tax. Alongside company, government is also response through combining policy of tax and corporate responsibility in from a tax benefits, then companies and governments build and cooperate in creating a prosper public. Considering good corporate governance practice in every decision making will be facilitate company in planning tax policy by using tax benefits without harm government. We also report that corporate social responsibility can be increasing significantly firm value, because legitimate theories explain that by participating from the company to stakeholders, this will be increasing shareholder value. Another results is how corporate governance negatively affects significantly with firm value. This is signs that corporate governance in state-owned enterprise cannot be work well, because there is a lot of political interest regarding for taking policy in manage state-owned enterprise. Furthermore, our results suggest that firm arrange tax policy will get tax benefits through higher profit after tax, and then investor will be encouraged where the value of company will be increasing in the market. KEY WORDSCorporate social responsibility, corporate governance, firm value, tax avoidance, stateownership enterprise.In an uncertainty market, the higher competition of each company in gaining market will change the company to be more responsive to opportunities by utilizing the environment around the company. Therefore, companies are required to adopt a Corporate Responsibility model that is not only related to economic aspects, but also needs to pay attention to environmental, social and legal aspects as a way to maintain the company's sustainability. However, in current business practices, the Corporate Responsibility model is adopted by companies such as "double-edged sword". On the one hand, it impacts company value because it can be used as a signal for investors to invest, but on the other hand, unwittingly, will increase tax saving activities, either intentionally (Tax avoidance) or unintentional (Tax Evasion).The implementation of Corporate Responsibility which is increasing the value of the company also needs to be considered related to the company's tax policy, as this ...