The Effect of Good Corporate Governance on Company Value with Financial Performance as a Moderating Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange in the 2019-2023 Period

Farras, Annisa Anandita (2025) The Effect of Good Corporate Governance on Company Value with Financial Performance as a Moderating Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange in the 2019-2023 Period. S1 thesis, Universitas Andalas.

Abstract

This study examines the impact of Good Corporate Governance (GCG) on company value, with financial performance as a moderating variable, in manufacturing companies listed on the Indonesia Stock Exchange from 2019 to 2023. GCG is measured through managerial ownership, independent commissioners, and audit committees, while company value is assessed using Tobin’s Q and financial performance is represented by Return on Assets (ROA). Using Moderated Regression Analysis (MRA), the findings show that managerial ownership has no significant effect, whereas independent commissioners and audit committees positively affect company value. Financial performance strengthens the effect of independent commissioners and audit committees on company value but not managerial ownership.

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