Good Corporate Governance, Islamic Social Reporting, Growth Opportunity and Firm Value: The Mediating Role of Financial Performance
Abstract
This study aims to determine the Effect of Good Corporate Governance, Islamic Social Reporting, and Growth Opportunity on Company Value with Financial Performance as Intervening Variables in JII 70 Companies for the 2019-2022 period. This research is a type of quantitative research with secondary data in the form of panel data. Sampling technique using purposive sampling technique. The sample used was 14 companies registered on JII 70 for the 2019-2022 period. The analytical method used is descriptive statistical test, stasionarity test, F test, T test, R2 test, path analysis and Sobel test. The results of the study show that (1) Good Corporate Governance has a positive and significant effect on company value. (2) Islamic Social Reporting has a positive and significant effect on firm value. (3) Growth Opportunity has no effect on firm value. Financial performance has no effect on firm value. (5) Financial performance is able to mediate the effect of Growth Opportunity on firm value. (6) Financial performance cannot mediate the influence of Good Corporate Governance, Islamic Social Reporting on firm value.
References
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Sutapa, & Laksito. (2018). The Role of Islamic Social Reporting on Corporate Values. Indonesian Journal of Accounting.7(1), 57–68.
Swandari, F. (2018). The Effect of Disclosure of Islamic Social Reporting (ISR) on Company Value and Financial Performance as a Moderating Variable. Journal of Management Insights. 6(2), 168–186.
Tasik, JR (2020). The Influence of Growth Opportunity, Capital Structure, Company Size, Profitability and Dividend Policy on the Value of Companies Listed on the Indonesia Stock Exchange. Journal of Nitro Financial Banking Management (JMPKN), 3(2), 86–98.https://ojs.nitromks.ac.id/index.php/JMPKN/article/view/30
Windasari & Rihardjo. (2017). The Effect of Good Corporate Governance, Profitability and Corporate Social Responsibility on Company Value. Journal of Accounting Science and Research, 6(10), 1–20.
Yanti, et al. (2018). The Effect of Profitability, Company Size and Growth Opportunity on Company Value with Capital Structure as an Intervening Variable in Manufacturing Companies in the Pharmaceutical Sector Listed on the Indonesia Stock Exchange in 2011-2015. Journal of Accounting, 2(1), 1–17.
Amrizal, & Rohmah. (2017). The effect of institutional ownership, independent board of commissioners, audit committee and audit quality on firm value. National Seminar and The 4th Call for Sharia Paper, 76–89.https://publishilmiah.ums.ac.id/xmlui/handle/11617/9217
Asmanto, MR, & Andayani. (2020). The Influence of Profitability, Capital Structure, Growth Opportunity, and Investment Decisions on Firm Value. Journal of Accounting Science and Research, 9(3), 1–25.
brahim, & Muthohar. (2019). The Effect of Independent Commissioners and the Islamic Social Reporting Index on Firm Value and Profitability as Intervening Variables. Scientific Journal of Islamic Economics.5(01), 9–20.
Deli., & Kurnia. (2017). The Effect of Capital Structure, Profitability, Growth Opportunity and Liquidity on Firm Value. Journal of Accounting Science and Research, 6, 1–20.
Fatimah, et al. (2017). The Effect of Good Corporate Governance on Corporate Value with Financial Performance as an Intervening Variable. E-Journal of Management Research Management Study Program. 51–69.
Febriyanti, et al. (2022). Islamic Social Reporting and Islamic Corporate Governance. Journal of Islamic Economics, Management and Accounting. 7(21), 1–12.
Fiadicha, F., & Hanny Y, R. (2016). The Effect of Good Corporate Governance, Corporate Social Responsibility and Financial Performance on Company Value. Journal of Managerial Accounting, 1(1).https://doi.org/10.52447/jam.v1i1.737
Fika, F., & Rahmawati, H. (2020). The Effect of Good Corporate Governance, Corporate Social Responsibility and Financial Performance on Company Value. Journal of Managerial Accounting, 1(1), 22–45.
Haniffa, R. (2002). Social Responsibility Disclosure: An Islamic Perspective. In Indonesian Management & Accounting Research.1(2), p. 128–146).
Hapsari, (2018). The Influence of Good Corporate Governance (GCG) and Corporate Social Responsibility on Company Values. Indonesian Community Service Journal, 1(1), 211–222.
Kusumaningrum, AE (2021). Optimizing Community Participation in Regulations for Restricting Community Activities to Prevent the Spread of Covid-19. Journal of Usm Law Review, 4(2), 714. https://doi.org/10.26623/julr.v4i2.4324
Nur, T. (2018). The effect of growth opportunity, profitability and capital structure on company value with dividends as an intervening variable in manufacturing companies listed on the IDX in the 2014-2017 period. Indonesian Journal of Management and Business, 5(3), 393–411. https://doi.org/10.31843/jmbi.v5i3.175
Nurlela, Rika. (2008).The Effect of Corporate Social Responsibility on Company Value with the Percentage of Management Ownership as a Moderating Variable. National Symposium on Accounting.
Nurokhmawati, & Pardi, P. (2022). Indonesian Sharia Stock Index During the Covid'19 Pandemic. Scientific Journal of Islamic Economics, 8(1), 888.https://doi.org/10.29040/jiei.v8i1.3623
Nursasi, E. (2020). The Influence of Financial Performance on Company Value with CSR as a Moderating Variable. Journal of Accounting and Investments, 5(1), 29–44. http://publication.petra.ac.id/index.php/management-keuangan/article/view/2961
Oktavia, R., & Fitria, A. (2019). The Effect of Profitability, Growth Opportunity and Capital Structure on Company Value. Journal of Accounting Science and Research, 8(6), 1–20.
Purnamawati, et al. (2017). Good Corporate Governance and Its Influence on Corporate Values Through Corporate Social Responsibility Disclosure. Journal of Finance and Banking. 21(040), 276–286.
Retno & Concern. (2012). The Influence of Good Corporate Governance and Disclosure of Corporate Social Responsibility on Corporate Values. Nominal Journal, I(5), 12–14.https://doi.org/998-3068-1-pb.pdf
Saraswati, YF (2016). The Effect of Growth Opportunity and Leverage on Firm Value with Profitability as an Intervening Variable (Study of Consumer Goods Companies Listed on the Indonesia Stock Exchange Period 2011-2014). Journal of Economics & Development Studies, 1–23.
Sarwono, J. (2011). Getting to Know Path Analysis: History, Definition and Application. Scientific Journal of Ukrida Business Management, 11(2), 285–296.
Suryaningtyas & Rohman. (2019). The Effect of Implementing Corporate Governance as a Mediation Variable. Diponegoro Journal of Accounting, 8(4), 1–10.https://ejournal3.undip.ac.id/index.php/accounting/article/view/25658
Susanto, C., & Ardini, L. (2016). The Effect of Good Corporate Governance, Corporate Social Responsibility, and Profitability on Company Value. Journal of Accounting Science and Research, 5(7), 1–17.
Susianti, & Yasa. (2013). The Influence of Financial Performance on Corporate Value by Moderating Good Corporate Governance and Corporate Social Responsibility. Udayana E-Journal of Accounting, 3(1), 73–91.https://ojs.unud.ac.id/index.php/Accounting/article/view/5143
Susilawati. (2019). The Effect of Disclosure of Corporate Social Responsibility and Good Corporate Governance on Corporate Values in the Banking Sector. Accuracy : Journal of Accounting and Finance Studies, 2(1), 31–46.https://doi.org/10.29303/akurasi.v2i1.13
Sutapa, & Laksito. (2018). The Role of Islamic Social Reporting on Corporate Values. Indonesian Journal of Accounting.7(1), 57–68.
Swandari, F. (2018). The Effect of Disclosure of Islamic Social Reporting (ISR) on Company Value and Financial Performance as a Moderating Variable. Journal of Management Insights. 6(2), 168–186.
Tasik, JR (2020). The Influence of Growth Opportunity, Capital Structure, Company Size, Profitability and Dividend Policy on the Value of Companies Listed on the Indonesia Stock Exchange. Journal of Nitro Financial Banking Management (JMPKN), 3(2), 86–98.https://ojs.nitromks.ac.id/index.php/JMPKN/article/view/30
Windasari & Rihardjo. (2017). The Effect of Good Corporate Governance, Profitability and Corporate Social Responsibility on Company Value. Journal of Accounting Science and Research, 6(10), 1–20.
Yanti, et al. (2018). The Effect of Profitability, Company Size and Growth Opportunity on Company Value with Capital Structure as an Intervening Variable in Manufacturing Companies in the Pharmaceutical Sector Listed on the Indonesia Stock Exchange in 2011-2015. Journal of Accounting, 2(1), 1–17.
Published
2023-08-07
How to Cite
Azizah, S. N., & Rahman, T. (2023). Good Corporate Governance, Islamic Social Reporting, Growth Opportunity and Firm Value: The Mediating Role of Financial Performance. Annual International Conference on Islamic Economics and Business (AICIEB), 3, 175-187. https://doi.org/https://doi.org/10.18326/aicieb.v3i0.512
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