PENGARUH INDEKS CORPORATE GOVERNANCE, LEVERAGE, PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Perusahaan yang Terdaftar Konsisten dalam Penilaian CGPI Periode 2012-2016)

Abstract

This study aims to examine the effect of corporate governance, leverage, profitability and firm size on firm value. This study consists of 3 independent variables: corporate governance which is measured by Corporate Governance Perception Index (CGPI), leverage measured by Debt to Equity Ratio, profitability measured by Return on Equity, and firm size measured by natural logarithm of total assets, then dependent variable is firm value which is measured by Price to Book Value Ratio. The population in this study are companies that consistently follow the assessment of CGPI that organized by the Indonesian Institute of Corporate Governance (IICG) in 2012-2016. The sampling method is purposive sampling that based on criteria which has been determined, so that obtained 45 samples. Hypotheses in this study are tested by multiple linear regression analysis using Statistical Product and Service Solution (SPSS) version 21. The result in this study shows that simultaneously, all the independent variables have significant effect on firm value. Partially, leverage has a negative and significant effect on firm value, profitability and firm size have a positive and significant influence on firm value. Meanwhile, corporate governance index has no significant effect on firm value.