ISSN: 2225-8329
Open access
This study aims to analyze the effect of Good Corporate Governance on Investment Decisions and Profitability and Its Impact on Corporate Value. The sampling technique used is purposive sampling. The study was conducted on companies that are included in the LQ45 Index with the 2015-2017 study periods. The estimation of the research model used is multiple regression analysis. The purposes of this study are to find out whether Good Corporate Governance has an effect on Investment Decisions and Profitability and Its Impact on Corporate Values. This study involved 4 (three) variables consisting of 1 (one) dependent variable, 3 (two) independent variables (independent), and the dependent variable in this study is Corporate Value. The independent variables in this study are Good Corporate Governance, Investment Decision and Profitability. The results of this study indicate that Managerial Ownership has no effect on investment decisions, institutional ownership has an effect of -2,471 on investment decisions, Managerial Ownership does not affect profitability, institutional ownership does not affect profitability, Managerial Ownership has an effect of 57,587 on firm value, institutional ownership does not influence on firm value, Investment Decision has an effect of 0.215 on firm value, Profitability has an influence of 51,670 on Corporate Value Managerial ownership has an effect of 0,00037 on corporate value through intervening variable investment decisions, institutional ownership has an influence of -0,00713 on value company through variable intervening investment decisions, managerial ownership has an effect of 9.633 on firm value through variable intervening profitability, institutional ownership has an effect of 0.0339 on firm value through intervening profitability.
1. Ahmed, N. (2017). Impact of Ownership Structure on Firm Performance in the menaregi On An Empirical Study. http://afr.sciedupress.com Accounting and Finance Research Vol. 6, No. 3; 2017
2. Brigham, E. F., Houston, J. F. (2011). Dasar-dasar Manajemen Keuangan buku 2. (Alih, Bahasa: Ali Akbar Yulianto). Salemba Empat. Jakarta.
3. Darminto. (2010). Pengaruh Faktor Eksternal dan Berbagai Keputusan Keuangan Terhadap Nilai, P. Jurnal Aplikasi Manajemen, Vol. 8, No. 1.
4. Dewayanto, T. (2010). Pengaruh Mekanisme Good Corporate Governance Terhadap Konerja Perbankan Nasional. Fokus Ekonomi Vol. 5 No. 2: 10 – 123.
5. Dewi, N. L. (2015) Pengaruh Keputusan Investasi Dan Good Corporate Governance Pada Kinerja Keuangan Serta Implikasinya Pada Nilai Perusahaan; Bali; Fakultas Ekonomi dan Bisnis Universitas Udayana (Unud) E-Jurnal Akuntansi Universitas Udayana. (2015).Vol. 13 No. 2 Nov. Hal. 564-581.
6. Faqi, Y. D. (2013). Pengaruh Mekanisme Good Corporate Governance terhadap Nilai Perusahaan pada BUMN yang Terdaftar di Bursa Efek Indonesia ; Pekanbaru Universitas Riau.
7. Ghozali, I. (2016). Aplikasi Analisis Multivariet edisi 8, Semarang, Universitas Diponegoro.
8. Hardianti, V. D. (2016). Kinerja Keuangan, Nilai Perusahaan: Corporate Social Responsibility, Good Corporate Governance Sebagai Variabel Moderasi; Surabaya; Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA)
9. Husnan, S. (2013). Manajemen Keuangan Edisi Keempat. BPFE. Yogyakarta.
10. Hutapea, A. (2013). Analisis Pengaruh Corporate Governance Terhadap Kinerja Keuangan Sektor Perbankan?. Semarang: Fakultas Ekonomi dan Bisnis, Universitas Diponegoro, Laporan Keuangan dan Laporan Tahunan Perusahaan. www.idx.co.id.
11. Masry, M. (2016). The Impact of Institutional Ownership on the Performance of Companies Listed In the Egyptian Stock Market. IOSR Journal of Economics and Finance (IOSR-JEF). Arab Academy for science and Technology (AAST), Alexandria, Egypt.
12. Nurhayati, M. (2013). Profitabilitas, Likuiditas, dan Ukuran Perusahaan Pengaruhnya Terhadap Kebijakan Dividen dan Nilai Perusahaan Sektor Non Jasa. Jurnal Keuangan dan Bisnis Vol.5 No. 2. Hlm. 145-153
13. Piter, A. (2010). Buletin Ekonomi Moneter dan Perbankan Oktober 2010.
14. Purno, B. & Khafid, M. (2013). Pengaruh Mekanisme Good Corporate Governance terhadap Kinerja Perbankan. Simposium Nasional Akuntansi XVI. 2014, Manado.
15. Setiyawati, D. B. (2017). Pengaruh CSR dan penerapan GCG terhadap tingkat Profitabilitas (Studi empiris pada perusahaan sektor pertambangan yang terdaftar di BEI). Makalah disajikan pada Jurnal Akuntansi Universitas Tarumanegara. Vol. XXI (3): 351-360.
16. Wardhani, S., Tarisma, D. (2017). Pengaruh Kepemilikan Institusional Terhadap Nilai Perusahaan Dengan Keputusan Investasi, Keputusan Pendanaan Dan Kebijakan Dividen Sebagai Variabel Moderasi, FEB Universitas Brawijaya.
17. Pernamasari, R. (2018). Implementation of Good Corporate Governance and Voluntary Disclosure Compliance: 100 compass indeks companies listed indonesia stock exchange (IDX) 2015-2016. Makalah disajikan pada International Journal of Academic Research In Acccounting, Finance and Management Sciences. Vol.VIII, No.2: 235-249.
To cite this article: Wahyudi, S.M., Chairunesia, W. (2019). The Effect of Good Corporate Governance on Investment Decisions and Profitability and Its Impact on Corporate Value, International Journal of Academic Research in Accounting, Finance and Management Sciences 9 (3): 140-149
Copyright: © 2019 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode