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Journal : Jurnal Proaksi

GCG, CSR and Interest Rate as Determinant of Firm Value Pragita, Amellia; Purwidianti, Wida; Hidayah, Arini; Tubastuvi, Naelati
Jurnal Proaksi Vol. 13 No. 1 (2026): Januari - Maret 2026
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i1.8189

Abstract

Main Objectives - This study examines the influence of GCG, CSR, and interest rates on the value of companies in the Indonesian financial sector during the period 2021–2024.Method - This study uses a quantitative approach with secondary data that there are 25 financial companies that meet the criteria from 105 companies listed on the IDX, analyzed through panel data regression using Stata 17 MP.Key Findings - The results of the study show that managerial ownership significantly increases the value of the firm , while the board of directors, independent commissioners, CSR, and interest rates have no effect. This shows that managerial ownership is crucial in increasing the value of companies in the financial sector.Theoretical and Practical Implications - Theoretically, the results of this study support agency theory and arbitrage theory, which show that managerial ownership aligns the interests of management and shareholders, while market efficiency affects the value of the firm . Practically, companies must strengthen the implementation of GCG and CSR to increase firm  value.Novelty -  This study extends prior research by adding managerial ownership and interest rates to the analysis of firm value. It also shifts the context to the Indonesian financial sector during the 2021–2024 period.
Co-Authors Abid Yanuar Abid Yanuar Badharudin Ade Rusman Akhmad Darmawan Akhmad Darmawan Akhmad Darmawan Akhmad Darmawan3, Akhmad Akram, An Nafi Yassar Atha Al Alfalisyado Alfalisyado, Alfalisyado Alfato Kharismasyah Alfato Yusnar Kharismasyah Alfatoni, M Sidiq Amalia, Nabila Ayu Amira, Putri Nur Anisa, Nandita Aniuranti, Asfi Ariyanti, Ayu Rizki Aryoko, Yudhistira Pradhipta Aryoko, Yudhistira Pradipta Ayu Aradhea, Nissa Bagis, Fatmah Basith Ahnaf Jaler M Bernika Nindya Siwi Bima Cinintya Pratama Diastuti Yuliawati Dymas Rhimba Prastita Erna Handayani Erny Rachmawati Erny Rachmawati Evanthi, Olivia Dea Fathin, Karina Hardiyani Fatmah Bagis Fauziridwan, Meydy Febrilianty, Arfannisa Firliyani, Indah Fitriati, Azmi Florida Mandiriani Suwaji Halda Nurohmah Hartika, Aliza Dwi Haryanto, Totok Hendrokumoro Hengky Widhiandono, M.Si. S.E. Hermin Endratno Herni Justiana Astuti Herni Justiana Astuti Husein, Gefira Amalia I Dewa Putu Wijana I Dewa Putu Wijana Ikhsani, Mastur Mujib Justiana Astuti, Herni Kharismasyah, Alfato Yusnar Kinanti, Dwianggi Puspa Laila Harun Basalamah Layli, Alfina Nur Luthfi Zamakhsyari Margareta, Febriana Mastur Mujib Ikhsani Mastur Mujib Ikhsani Maulida Nurul Innayah Meydy Fauziridwan Miftahuddin, Muchammad Agung Muchammad Agung Miftahudin Mudjiyanti, Rina Mudjiyanti, Rina Muhammad Agung Miftahudin, Muhammad Agung Muhammad Arfani Zaidan Muhammad Fadil Laela Arbi Naelati Tubastuvi Naelati Tubastuvi Nazah, Nawalin Ninik Setyowani P. Cuelo, Randdie Pandabandjal, Asmarani Pragita, Amellia Purnadi Purnadi Purnadi Qory Diana Lita Rachmawati, Septi Nur Rahmawati, Ika Yustina Rahmawati, Putri Galuh Ramadani, Nuzula Nurusyifa Randikaparsa, Irawan Restu Frida Utami Rif'aa, Naela Aziizahtur Roni Caniago Rosi, Si Salvati, Adelia Selamet Eko Budi Santoso Setyadi, Edi Joko Sofwatunnisa, Novi Solatika, Putu Ines Sulistiyani Susanti, Riska Dwi Susanti, Vina Suyoto syafa’at, Faizal Totok Haryanto Tri Septin MR Tri Septin Muji Tri Septin Muji Rahayu, Tri Septin Utami, Rifka Frida Utomo Indra Kusumo Wahyuningsih, Septia Tri Wida Purwidianti Wida Purwidiyanti, Wida Widayaningtyas, Dian Widyaningtyas, Dian Wismawati yahya Sawek, Radna Yudhistira Aryoko Yudhistira Pradhipta Aryoko Zamakhsyari, Luthfi Zildjian, Raka Zsazsa Zabrina, Zerlinda