Analysis of the Influence of Financial Performance on Company Value by Disclosure of Corporate Social Responsibility and Good Corporate Governance as Moderating Variables
DOI:
https://doi.org/10.38035/gijea.v1i1.13Keywords:
Corporate Social Responsibility, Financial Performance, Firm Value, Good Corporate GovernanceAbstract
The aim of this research is to identify the influence of financial performance to firm value with moderating variables: Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG). The main method of analysis used is the multiple linear regression. By using the manufacturing companies registered on the Indonesia Stock Exchange (IDX) during 2012-2015 as the sample with purposive sampling technique. The analysis finds that Corporate Social Responsibility and Good Corporate Governance can influence the effect of financial performance on firm value. Beside, this research also found that ROA has positive significance to Tobin's Q.
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Rimba Kusumadilaga. 2010. The Effect of Corporate Social Responsibility on Company Value with Profitability as a Moderating Variable (Empirical Study of Manufacturing Companies Listed on the Indonesia Stock Exchange. Thesis. Accounting. FE. Diponegoro University.
Rika Susanti. 2010. Analysis of Factors Influencing Firm Value. Thesis. Financial management. FE. Diponegoro University
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Siallagan, Hamonangan, Mas'ud Machfoedz. 2006. Mechanism of Corporate Governance, Profit Quality, and Corporate Value. Padang: National Symposium on Accounting IX
Surifah. 2011. Arranging the Index of Corporate Governance. Surakarta : Journal of Management Dynamics Vol. 2, No. 1 : 1-16 : Faculty of Economics, Eleven March University
Tambun, Sihar, 2013, Data Processing and Interpretation of Research Results, Using the SPSS Program, for Moderating Variables. Jakarta: Quantitative Research Methods Workshop: Faculty of Economics and Business, University of August 17, 1945
Turley, Stuart., Mahbub Zaman. 2004. The Corporate Governance Effects of Audit Committees . Journal of Management and Governance, Vol. 8, pp. 305-332
Ulupui, IGKA 2007. "Analysis of the Influence of Liquidity, Leverage, Activity and Profitability Ratios on Stock Returns (Studies on Food and Beverage Companies with the Consumer Goods Industry Category on the Jakarta Stock Exchange)". Journal of Accounting and Business Vol. 2. No. 1, January: 88 – 102
Yamin, Sofyan, Heri Kurniawan. 2014. " Complete Statistical Analysis Techniques with SPSS Software, Edition 2" . Jakarta: Salemba Empat.
Yang, J., Jayanthi Krishnan. 2005. Audit Committees and Quarterly Earnings Management . International Journal of Auditing, Vol. 9, pp. 201-219.
Yermac, David. 1996. Higher Market Valuation of Companies with a Small Board of Directors . Journal of Financial Economics. 40: 185-211.
Yuniasih, Ni Wayan, and Gede Wirakusuma. 2009.
Ziaul, Mohammad Hoque., Md. Rabiul Islam, Hassan Ahmed. Corporate Governance and Bank Performance: The Case of Bangladesh.
Ariyani, Desi Ratna, and Juniati Gunawan. 2014. "The Influence of Good Corporate Governance and Corporate Social Responsibility Disclosures on Banking Company Performance" E-journal Trisakti Masters of Accounting. Volume.1 Number 2 September 2014. Pages 181-198.
Bassamalah, Anies S., and Johnny Jermias. 2005. "Social and Environmental Reporting and Auditing in Indonesia: Maintaining Organizational Legitimacy?" Gadjah Mada International Journal of Business. January- April Vol. 7 No 1. pp: 109 – 127 Al-Matari, Ebrahem Mohammed., Abdullah Kaid Al Swidi, Faudziah Hanim Bt Fadzil. 2014. Audit Committee Characteristics and Executive Committee Characteristics and Firm Performance in Oman: Empirical Study . Asian Social Science, Vol. 10, p. 98-113
Ardi, Yulius Wiranata, Yeterina Widi Nugrahanti. 2013. Effect of Ownership Structure on the Profitability of Manufacturing Companies in Indonesia. Journal of Accounting and Finance, Vol. 15, No. 1, pp. 15-26
Ariyani, Ratna Desi, Juniati Gunawan. 2014. "The Effect of Disclosure of Good Corporate Governance and Corporate Social Responsibility on Banking Company Performance". Trisakti Magister of Accounting E-journal, Vol.1, No.2
Becker, Connie L., Mark L. Defond, James Jiambalvo, KR Subramanyam. 1998. The Effect of Audit Quality on Earnings Management. Contemporary Accounting Research, Vol. 15, No. 1, pp. 1-24
Chan, Kam C., Joanne Li. 2008. Audit Committee and Firm Value: Evidence on Outside Top Executives as Expert-Independent Directors . The Authors Journal Compilation, Vol. 16, pp. 16-31
Damara, Randi, Sumani, Lilik Farida. 2015. “ The Effect of The Financial Performance to Company's Value by The Disclosure of CSR and GCG as Moderating Variable ” : Faculty of Economics, Management, University of Jember.
Demsetz, Harold, 1983, The structure of ownership and the theory of the firm, Journal of Law and Economics 26, 375-390
FCGI. 2001. The Role of the Board of Commissioners and the Audit Committee in the Implementation of Corporate Governance (Corporate Governance). Volume II . Jakarta: Citra Graha
Global Reporting Initiative. (2013). Principles of Reporting and Standard Disclosures. Switzerland: GRI.
Handoko, Yuanita, 2010 "The Influence of Financial Performance on Firm Value Using Corporate Social Responsibility and Good Corporate Governance as Moderating Variables", Gunadarma University, downloaded from http:/papers.gunadarma.ac.id/index.php/economy/article/viewfile /876/834
Hope, Syofyan Syafri. 2004. Crisis Analysis of Financial Statements. Jakarta: Rajawali Press.
Haruman, Tendi. 2008. “The Influence of Ownership Structure on Financial Decisions and Values. Grafindo Persada. Jakarta.
Hsu, Wen-Yen., Pongpitch Petchsakulwong. 2010. The Impact of Corporate Governance on the Efficiency Performance of the Thai Non-Life Insurance Industry. The Geneva Papers, 2010, 35, (S28–S49)
Jensen, MC, WH Meckling. 1976. Theory of The Firm, Managerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics, Vol. 3, No. 4, pp. 305-360.
Jensen, Michael C. 2001. Value Maximization, Stakeholder Theory, and The Corporate Objective Function . Journal of Applied Corporate Finance, Vol. 14, No. 3, pp. 8-21
Khomsiyah, Deni Rahmawati. 2005. Relationship between Corporate Governance and Company Performance. The Indonesian Institute for Corporate Governance (IICG).
Kleins, April. 2002 . Audit Committees, Board of Director Characteristics, and Earning Management . Journal of Accounting and Economics.
Governance Policy National Committee. 2006. General Guidelines for Good Corporate Governance Indonesia . Jakarta: KNKG
Luthan, Elvira. (2010). The Linkage Between Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) in Improving Company Performance. Bandung: Unpad Press.
Miller, MH and F. Modigliani. 1961. Dividend Policy, Growth, and the Valuation of Shares. Journal of Business . 34: 411-433
Muliani, Luh Eni, Gede Adi Yuniarta, Kadek Sinarwati. 2014. "The Influence of Financial Performance on Corporate Value by Disclosure of Corporate Social Responsibility and Good Corporate Governance as Moderating Variables (Case Study on the Indonesia Stock Exchange Period 2010-2012). e- Journal of S1 Accounting at Ganesha University of Education. Vol.2, No.1
Noke, Kiroyan. 2006. "Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) Is There a Link Between the Two?" Economics Business Accounting Review. III Edition. September-December: 45 – 58, Economic Business Review Jakarta
Bank Indonesia Regulations. No. 8/4/PBI/2006 concerning Implementation of Good Corporate Governance for Commercial Banks.
Pertiwi, Tri Kartika, Fery Madi Ika Permana. 2012. "The Influence of Financial Performance on Company Value, With Good Corporate Governance as a Moderating Variable for Food and Beverages Companies Listed on the Indonesia Stock Exchange for the 2005-2010 period"
Purwantini, V. Titi. 2012. The Effect of Good Corporate Governance Mechanisms on Corporate Values and Company Financial Performance. STIE AUB Surakarta
Puspitasari, Retno Indah. 2012. "The Influence of Financial Performance on Corporate Value by Disclosure of Corporate Social Responsibility and Good Corporate Governance as Moderating Variables". Journal. Accounting Study Program, Faculty of Economics, Siliwangi University, Tasikmalaya
Qin, Bo. 2007. The Influence of Audit Committee Financial Expertise in Earnings Quality: US Evidence . The Icfai Journal of Audit Practice, Vol. 4, No. 3, pp. 7-28
Rimba Kusumadilaga. 2010. The Effect of Corporate Social Responsibility on Company Value with Profitability as a Moderating Variable (Empirical Study of Manufacturing Companies Listed on the Indonesia Stock Exchange. Thesis. Accounting. FE. Diponegoro University.
Rika Susanti. 2010. Analysis of Factors Influencing Firm Value. Thesis. Financial management. FE. Diponegoro University
Salvatore, D. 2005. Robustness of Forecasting Financial Crises in Emerging Market Economies with Data Revisions. Open Economies Reviews , vol. April, p 209-216, ISSN: 1226-508x.
Sari, Marlina Novita. 2012. "The Influence of Financial Performance on Company Value Using Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) as moderating variables"
Sartono, Agus. 2001. Theory and Application Management. Yogyakarta 4th Edition: BPEF- Jogja
Now, Uma. 2006. " Research Methods for Business, Issue 4". Jakarta: Salemba Empat.
Siallagan, Hamonangan, Mas'ud Machfoedz. 2006. Mechanism of Corporate Governance, Profit Quality, and Corporate Value. Padang: National Symposium on Accounting IX
Surifah. 2011. Arranging the Index of Corporate Governance. Surakarta : Journal of Management Dynamics Vol. 2, No. 1 : 1-16 : Faculty of Economics, Eleven March University
Tambun, Sihar, 2013, Data Processing and Interpretation of Research Results, Using the SPSS Program, for Moderating Variables. Jakarta: Quantitative Research Methods Workshop: Faculty of Economics and Business, University of August 17, 1945
Turley, Stuart., Mahbub Zaman. 2004. The Corporate Governance Effects of Audit Committees . Journal of Management and Governance, Vol. 8, pp. 305-332
Ulupui, IGKA 2007. "Analysis of the Influence of Liquidity, Leverage, Activity and Profitability Ratios on Stock Returns (Studies on Food and Beverage Companies with the Consumer Goods Industry Category on the Jakarta Stock Exchange)". Journal of Accounting and Business Vol. 2. No. 1, January: 88 – 102
Yamin, Sofyan, Heri Kurniawan. 2014. " Complete Statistical Analysis Techniques with SPSS Software, Edition 2" . Jakarta: Salemba Empat.
Yang, J., Jayanthi Krishnan. 2005. Audit Committees and Quarterly Earnings Management . International Journal of Auditing, Vol. 9, pp. 201-219.
Yermac, David. 1996. Higher Market Valuation of Companies with a Small Board of Directors . Journal of Financial Economics. 40: 185-211.
Yuniasih, Ni Wayan, and Gede Wirakusuma. 2009.
Ziaul, Mohammad Hoque., Md. Rabiul Islam, Hassan Ahmed. Corporate Governance and Bank Performance: The Case of Bangladesh.
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Published
2023-03-01
How to Cite
Rajab, M. . (2023). Analysis of the Influence of Financial Performance on Company Value by Disclosure of Corporate Social Responsibility and Good Corporate Governance as Moderating Variables. Greenation International Journal of Economics and Accounting, 1(1), 28–36. https://doi.org/10.38035/gijea.v1i1.13
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