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Penerapan Good Corporate Governance di Perusahan Keuangan dan Pengaruhnya Terhadap Nilai Perusahaan Menggunakan Kinerja Keuangan Sebagai Variabel Perantara (Studi Empiris pada Perusahaan Keuangan Periode 2017-2018) Sukoco, Y.Djoko
JIMEK : Jurnal Ilmiah Mahasiswa Ekonomi Vol 3, No 2 (2020): JIMEK Volume 3 No 2
Publisher : Fakultas Ekonomi Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (657.148 KB) | DOI: 10.30737/jimek.v3i2.1007

Abstract

ABSTRAKTujuan Penelitian  ini adalah menguji signifikansi pengaruh Good Corporate Governance terhadap nilai perusahaan dengan kinerja keuangan sebagai variabel perantara. Populasi penelitian ini menggunakan perusahaan keuangan yang terdaftar di Bursa Efek Indonesia (BEI) periode tahun 2017 dan 2018, total sampel pada penelitian sebesar 78. Pengujian pengaruh variabel perantara dengan menggunakan regresi data panel dengan menggunakan analisis jalur (path analysis). Hasil dari penelitian ini menjelaskan bahwa kinerja keuangan (ROA) berpengaruh positif signifikan terhadap nilai perusahaan dengan proksi TobinsQ. Kinerja keuangan (ROA) tidak terbukti sebagai variabel perantara, namun hasil penelitian menunjukan bahwa kinerja keuangan (ROA) berpengaruh secara langsung terhadap nilai perusahaan (TobinsQ). GCG tidak berpengaruh langsung terhadap nilai perusahaan dan ROA tidak terbukti sebagai mediasi antara GCG terhadap nilai perusahaan, hasil penelitian menemukan bahwa kinerja keuangan perusahaan (ROA) berpengaruh langsung terhadap kinerja perusahaan. ABSTRACTThis study was to examine the significance of GCG effect on firm value with financial performance as an intervening variable. The population in this study were financial companies listed on the Indonesia Stock Exchange (IDX) for the period 2017 and 2018, the total sample in the study was 78. Testing the effect of intervening variables using panel data regression using path analysis. The results of this study explain that financial performance with ROA proxies has a significant positive effect on firm value with TobinsQ proxy. Financial performance (ROA) is not proven as an intervening variable, but the results of the study show that financial performance (ROA) directly affects the value of the company (TobinsQ). GCG has no direct effect on firm value and ROA is not proven as a mediation between GCG and firm value. The study found that financial performance (ROA) has a direct effect on company performance.
PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING Ariyani, Vivi; Kurniawati, Dyah; Sukoco, Y. Djoko
Widya Warta Vol 2 (2020): No. 02 Tahun XLIV/Juli 2020
Publisher : Universitas Katolik Widya Mandala Surabaya Kampus Kota Madiun

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Abstract

This study aimed to analyze the effect of profitability on firm value with capital structure as an intervening variable. It used a purposive sampling technique, and the object in this study was the financial company in the period of 2015-2016, with the type of panel data of 170. The results of this study were profitability had a positive effect on capital structure and firm value directly. In contrast, the capital structure as an intervening variable of the effect of profitability on firm value was not proven.
Agency Cost dan Persaingan Perusahaan Sektor Non Keuangan Pada Saat Pandemi Covid-19 Sukoco, Y.Djoko
JIMEK : Jurnal Ilmiah Mahasiswa Ekonomi Vol. 6 No. 02 (2023): JIMEK
Publisher : Fakultas Ekonomi Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/jimek.v6i02.5365

Abstract

This study examines the effect of agency cost on return on assets (ROA) and investigates the moderating effect of product market competition on the effect of agency cost on firm financial performance by using leverage and firm size as control variables. The purposive sampling method documents as many as 715 research sample data on non-financial companies for the 2020-2022 period. This study proves that agency cost has a negative effect on a company's financial performance and competition moderates the negative effect of agency cost on a company's financial performance.
Is the Cost of Corporate Debt Affected by the Volume and Intensity of Carbon Emissions? Sukoco, Y. Djoko; Gumanti, Tatang Ary; Ariyani, Vivi
Indonesian Journal of Business Analytics Vol. 5 No. 3 (2025): June 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v5i3.14514

Abstract

This study aims to examine the impact of carbon risk on the debt costs of non-financial companies listed on the Indonesia Stock Exchange (idx) from 2017 to 2023. Carbon risk is proxied by carbon emission volume and carbon emission intensity, which are considered more closely aligned with the government's goal of achieving net-zero emissions by 2060. The hypothesis is tested using fixed-effects regression on a 1,023-unbalanced panel dataset. The results show that before the implementation of the Financial Services Authority Regulation (POJK) No. 51 of 2017, carbon risk had a significant negative impact on corporate debt costs. Following the implementation of the regulation, the negative effect of carbon risk on the cost of debt weakened and became statistically insignificant positive direction. This indicates that creditors have begun to internalize the carbon risk in their assessment of corporate borrowing costs.
ESOP, Kepemilikan Institusional, Komite Audit, Komisaris Independen dan Dampaknya Pada Nilai Perusahaan Non-keuangan Indonesia Chrissyani, Yohana Bunga; Sukoco, Y. djoko; Ariyani, Vivi
Jurnal E-Bis Vol 9 No 1 (2025): Vol. 9 No.1 2025
Publisher : Politeknik Piksi Ganesha Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37339/e-bis.v9i1.2044

Abstract

This study aims to prove again the significance of the influence of the internal mechanisms of Good Corporate Governance: the employee stock option plan (ESOP), institutional ownership (KI), audit committee (KA), and independent board of commissioners (PDKI) on firm value as measured by price to book value (PBV). The object of research is non-financial companies listed on the IDX for the period 2020–2022, with as many as 556 company samples using the purposive sampling technique. The results showed that the Employee Stock Option Plan (ESOP) and institutional ownership variables had a significant positive effect on firm value, the audit committee had no effect on firm value, and the independent board of commissioners had a significant negative effect on firm value.
Disclosure of Risk and Underpricing in Initial Public Offerings in the Indonesian Capital Market Ariyani, Vivi; Gumanti, Tatang Ary; Sukoco, Y. Djoko
Jurnal Ekonomi dan Bisnis Digital Vol. 4 No. 3 (2025): August 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ministal.v4i3.15203

Abstract

This study tests whether the risk factors disclosed in the prospectus are able to explain the variation in underpricing. The data used in this study uses cross-sectional data on 364 companies that conducted initial public offerings on the Indonesia Stock Exchange for the period 2018 to 2024. The research results risk disclosure is measured using two methods, namely based on rating risk and risk as determined by the capital market regulatory agency in Indonesia, which produces consistent findings. In this case, it explains that risk disclosure by companies conducting IPOs, both the risks that are being faced and those that will be faced by the issuing company, is able to reduce the level of underpricing.