Paket Lengkap Dampak Good Corporate Governance Terhadap Nilai Perusahaan Dengan Variabel Intervening Kinerja Keuangan (Studi Pada Sektor Industri Barang Konsumsi)
Abstract: The main purpose of the company is to maximize the firm value. In maximizing value will lead to agency problems that can reduce the value of the company. To overcome the agency kasus the company can implement Good Corporate Governance (GCG) which is proxied with managerial ownership. With the existence of managerial ownership is expected to improve corporate financial performance and firm value will also increase. This study discusses the value of companies among 14 companies of the consumer goods industry sector listed in Indonesia Stock Exchange (IDX) period 2011-2015. Statistical analysis used in this research is Partial Least Square (PLS). The results show that managerial ownership does not affect the firm value, because the percentage of managerial ownership owned by the company is too small so it can not minimize agency problems. Managerial ownership also has no effecton financial performance, with the percentage of shares owned by the manager is too small so as not to be able to grow the manager's motivation to improve its performance in the company. Financial performance has a positive effect on firm value, and financial performance does not serve as intervening variable due to too small managerial ownership that does not affect the improvement of financial performance which will increase the firm value. It is expected that this research can make the motivation to improve the company's financial performance which will be used by investor for consideration in decision making when investing.
Keywords: Firm Value, GCG, Financial Performance
Penulis: Lutviana Wati
Kode Jurnal: jpmanajemendd171166
