Determinan Firm Value : Financial Performance Sebagai Variabel Moderating

Abstract

<p><em>This study aims to test the influence of Corporate Social Responsibility and Good Corporate Governance on Firm Value with Financial Performance as a Moderating Variable. The object of this research is a manufacturing company of consumer goods sector listed on the Indonesia Stock Exchange in 2016-2019 which amounts to 26 companies. This research uses sampling technique that is using purposive sampling method. The analysis tool used is Multiple Linear Regression and Moderated Regression Analysis (MRA) using SPSS 21 software. The results of this study showed that Corporate Social Responsibility has no effect on firm value, Corporate Governance which is proxed with institutional ownership negatively affects the firm value, Corporate Governance which is proxied with managerial ownership has a positive effect on the firm value, Corporate Governance which is proxy with the remuneration committee has no effect on the firm value, Financial Performance which is proxies by ROA is not able to strengthen the influence of Corporate social responsibility on firm value.</em></p>

Determinant Analysis of the Value of LQ45 Index Companies Listed on the Indonesian Stock Exchange

“…Signaling theory was first coined by Spence with his research entitled Job Market Signaling in 1973. Signaling theory is a step taken by a company in order to provide a signal to shareholders regarding how management sees company opportunities (Gunawan, B., & Mawarni, J., 2021). Managers are seen as people who have data related to the company that is not owned by outside parties.…”

“…The company will try to continue to develop and increase company value because one of the goals of a company is to increase long-term company value. According to (Gunawan, B., & Mawarni, J, 2021), in a company, the value of the company is important because by maximizing the value of the company you can maximize the wealth and welfare of shareholders, which is the main goal of the company.…”

“…A high DER will cause the dividends distributed to be smaller, likewise, if the DER is low then the dividends that will be received will be higher. A small DER can increase company value and a large DER can reduce company value (Mandey, S. R., Pangemanan, S. S., & Pangerapan, S., 2017) Signaling theory is a step taken by a company to provide a signal to shareholders regarding how management views the company's opportunities (Gunawan, B., & Mawarni, J., 2021). Signaling theory explains why companies are important in providing data to the general public.…”