Faktor-faktor yang memengaruhi corporate value dengan corporate financial performance sebagai variabel mediasi: Analisis pada perusahaan industri manufaktur yang terdaftar di Bursa Efek Indonesia
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Abstract
This research aims to analyze corporate governance, capital structure, and asset utilization for their impacts on corporate value through the mediating role of corporate financial performance. This research is quantitative research that involved 62 manufacturing companies listed in the Indonesia Stock Exchange for the period 2017 to 2020. The methods used in this research were panel data regression and path analysis. The findings revealed that asset utilization has a positive and significant effect on corporate value mediated by corporate financial performance. Thus, the company’s ability to utilize assets effectively and efficiently can provide maximum benefits for the company. Furthermore, the findings show that corporate governance and capital structure do not affect corporate value through corporate financial performance.
Penelitian ini bertujuan untuk menganalisis pengaruh corporate governance, capital structure, dan asset utilization terhadap corporate value melalui peran mediasi corporate financial performance. Penelitian ini merupakan penelitian kuantitatif yang melibatkan 62 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2017-2020. Metode yang digunakan dalam penelitian ini adalah regresi data panel dan analisis jalur. Hasil penelitian menunjukkan bahwa asset utilization berpengaruh positif dan signifikan terhadap corporate value yang dimediasi oleh corporate financial performance. Dengan demikian, kemampuan perusahaan dalam memanfaatkan aset secara efektif dan efisien dapat memberikan keuntungan yang maksimal bagi perusahaan. Selanjutnya, temuan menunjukkan bahwa corporate governance dan capital structure tidak berpengaruh terhadap corporate value melalui corporate financial performance.
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