The role of sustainability report as a moderating variable in the influence of good corporate governance on market value
List of Authors
  • Iha Haryani Hatta , Nana Nawasiah

Keyword
  • Size of the Board of Commissioners, Audit Committee, Independent Commissioner, Sustainability Report, Market Value

Abstract
  • The company has a goal to obtain high profits and increase the value of the company. If the Good Corporate Governance (GCG) of a company is good, the Sustainability Report will affect the market value. The problem in this research is how does GCG affect market value and is the Sustainability Report able to moderate the effect of GCG on market value. The purpose of this study was to examine the direct effect of GCG proxied by independent commissioners, audit committees and board size on market value and sustainability reports as a moderating variable that moderates the effect of GCG on market value. This research is a causality study with the object of research being consumer non-cyclicals sector companies listed on the Indonesia Stock Exchange for 2018-2020. The analysis used path analysis with SmartPLS 3 software. The results showed that board size has a positive effect on market value. The audit committee has a negative effect on market value. Independent commissioners have a positive effect on market value. Sustainability reports are able to moderate the effect of board of commissioners and audit committee size on market value, while sustainability reports are not able to moderate the effect of independent commissioners on market value.

Reference
  • 1. Anoraga, P, Pengantar Pasar Modal, Edisi Ke-3 (Jakarta: Rineksa Cipta, 2001)

    2. Bambang Sudaryono, Hilda. 2007 ; ”Analisis Pengaruh Metode Akuntansi Persediaan, Nilai Persediaan dan Gross Profit Margin terhadap Market Value Perusahaan Manufaktur di Bursa Efek Jakarta” ; Jurnal Informasi Perpajakan, Akuntansidan Keuangan Publik ; Vol. 2 No. 1 Januari 2007

    3. Eduardus Tandelilin, Portofolio dan Investasi (Yogyakarta: Kanisius, 2010)

    4. Gunawan, Y.dan S.Mayangsari. 2015. Pengaruh Sustainability Reporting Terhadap Nilai Perusahaan Dengan Investment Opportunity Set Sebagai Variabel Moderating. E-Journal Akuntansi Trisakti 2 (1): 1-12

    5. Hapsoro, D. (2009). Pengaruh transparansi erhadap nilai perusahaan: studi empiris di pasar modal Indonesia., 20 (1) : 13-24

    6. Idah, 2013, Corporate Governance Dan Karakteristik Perusahaan Dalam Pengungkapan Sustainability Report, Accounting Analysis Journa, 2 (3) (2013)

    7. Jensen, Michael C. and William H. Meckling, (1976), Theory of The Firm: Manajerial Behaviour, Agency Cost and Ownership Structure, Journal of Financial Economics, Vol.3 October: 305-360

    8. Jogiyanto Hartono, Teori Portofolio dan Analisis Investasi (Yogyakarta: BPFE, 2003) Juendiny Chrisna Ekasari1*, Yefta Andi Kus Noegroho2, The Impact of Good Corporate

    9. Governance Implementation on Firm Value, International Journal of Social Science and Business. Volume 4, Number 4, Tahun 2020, pp. 553-560 P-ISSN: 2614-6533 E-ISSN:2549-6409 Open Access:https://ejournal.undiksha.ac.id/index.php/IJSSB/index

    10. Latifah, Sri Wahjuni dan Muhamad Budi Luhur (2017). Pengaruh Pengungkapan Sustainability Report terhadap Nilai Perusahaan dengan Profitabilitas sebagai Pemoderasi. Jurnal Akuntansi dan Bisnis, Vol.17. No.1, Februari 2017: 13-18

    11. Pengaruh Sustainability Report Dan Rofitabilitas Terhadap Nilai Perusahaan Dengan Investment Opportunity Set Sebagai Variabel Moderating Fitriyah , Nur Fadjrih.