The Influence of Current Ratio (CR), Return On Investment (ROI), Debt To Equity Ratio (DER) on Company Value with Good Corporate Governance as a Moderating Variable (Case Study of Manufacturing Companies Listed on the Indonesian Stock Exchange for the 2016-2020 Period)

(Case Study of Manufacturing Companies Listed on the Indonesian Stock Exchange for the 2016-2020 Period)

Penulis

  • Meliyanti Universitas Hasanuddin
  • Cepi Pahlevi Universitas Hasanuddin
  • Fauzi R Rahim Universitas Hasanuddin

Abstrak

This study investigates the impact of strong corporate governance on the relationship between current ratio (CR), return on investment (ROI), and debt to equity ratio (DER) and company value. This study investigates manufacturing companies that were publicly traded on the Indonesia Stock Exchange from 2016 to 2020. This study investigates hypotheses with a quantitative methodology. The sample included nine issuers. Utilising electronic research tools and adhering to library research guidelines are essential elements of the data collecting process. Regression moderation analysis, classical assumption testing, and descriptive statistical analysis are all techniques used in the process of analysing data. Evidence suggests that the current ratio (CR) of a company has little impact on its total worth. The value of a corporation is directly impacted by the Return on Investment (ROI). The debt to equity ratio (DER) has no impact on the worth of a firm. Efficient corporate governance has the ability to reduce the relationship between a company's value and its current ratio (CR). Efficient corporate governance may manage the relationship between return on investment (ROI) and the firm's value. Effective corporate governance may impact the relationship between a company's value and its debt-to-equity ratio (DER).

Referensi

Agnes, Sawir. 2009. Analisa Kinerja Keuangan dan Perencanaan keauangan Perusahaan. Jakarta: PT. Gramedia Pustaka Utama

Bambang, Riyanto. 2008. Dasar-dasar Pembelanjaan Perusahaan. Edisi Keempat. Cetakan Kedelapan. Yayasan Penerbit Gajah Mada. Yogyakarta

Brigham dan Houston. 2013. Dasar-Dasar Manajemen Keuangan Edisi 10. Jakarta: Salemba Empat.

Danang, Sunyoto. (2013). Metodologi Penelitian Akuntansi. Bandung: PT Refika Aditama Anggota Ikapi.

Etty Retno Wulandari. 2005. Konsep, Prinsip, dan Praktik Good Corporate Governance, Lembaga Komisaris dan Direktur Indonesia (LKDI), Jakarta.

Fahmi, Irham. 2013. Analisis Laporan Keuangan. Bandung: Alfabeta.

Ghozali, Imam. 2016. Aplikasi Analisis Multivariete Dengan Program IBM SPSS 23 (Edisi 8). Cetakan ke VIII. Semarang : Badan Penerbit Universitas Diponegoro.

Hamdani. 2016. Good Corporate Governance: Tinjauan Etika dalam Praktik Bisnis. Jakarta: Mitra Wacana Media.

Indriyani, E. (2017). Pengaruh Ukuran Perusahaan dan Profitabilitas Terhadap Nilai Perusahaan. Akuntabilitas, 10(2), 333–348.

Jensen, Michael C. dan W.H. Meckling. (1976). Theory of The Firm: Managerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics 3. Hal 305-360.

Kasmir. (2008). Bank dan Lembaga Keuangan Lainnya. Jakarta: PT. Raja Grafindo Persada.

Luthfiah, A.A. & Suherman. (2018). The Effects of Financial Performance Toward Firm Value With Ownership Structure as Moderating Variable (The Study on Manufacturing Companies Listed in Indonesia Stock Exchange In The Period of 2012-2016). Journal of Business and Behavioural Entrepreneurship, 2 (1).

Maith, Hendry Andres. 2013. Analisis laporan keuangan dalam mengukur kinerja keuangan pada PT. Hanjaya Mandala Sampoerna Tbk. Universitas Sam Ratulangi Manado. Jurnal EMBA Vol. 1 No.3 September 2013, Hal. 619-628 ISSN 2303-1174

Nurlela, Rika dan Islahuddin. 2008. Pengaruh Corporate Social Responsibility terhadap Nilai Perusahaan dengan Prosentase kepemilikan Menejerial sebagai Variabel Moderating. Simposium Nasional Akuntansi XI. Pontianak

Organization for Economic Cooperation and Development. (2004). OECD Principles of Corporate Governance 2004. The OECD Paris.

Rakhimsyah, L.A., dan Barbara Gunawan. 2011. ”Pengaruh Keputusan Investasi, Keputusan Pendanaan, Kebijakan Deviden Dan Tingkat Suku Bunga Terhadap Nilai Perusahaa”. Jurnal Investasi,Vol.7,No.1

Subramaniam, N., L. McManus, and J.Zhang. 2009. Corporate Governance, Firm Characteristics, and Risk Management Committee Formation in Australia Companies. Managerial Auditing Journal, 24(4), 316-339.

Tarigan, Robinson. 2007. Ekonomi Regional, Teori dan Aplikasi cetakan ke empat. Jakarta: PT. Bumi Aksara

Utami, Anindyati Sarwindah. 2011. “Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan dengan Pengungkapan Corporate Social Responsibility dan Good Corporate Governance sebagai Variabel Pemoderasi”. Skripsi. Fakultas Ekonomi Jember.

Wahyudi, U., dan H.P. Pawestri. 2006. Implikasi Struktur Kepemilikan Terhadap Nilai Perusahaan: Dengan Keputusan Keuangan Sebagai Variabel Intervening. Makalah Disajikan dalam Simposium Nasional Akuntansi IX. Padang.

Unduhan

Diterbitkan

2024-02-20

Terbitan

Vol 9 No 1 (2024): JURNAL PENELITIAN EKONOMI DAN AKUNTANSI (JPENSI)

Bagian

Artikel

Lisensi

Hak Cipta (c) 2024 Jurnal Penelitian Ekonomi Dan Akuntansi

Creative Commons License

Artikel ini berlisensi Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.