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All Journal Jurnal Ekonomi dan Pendidikan Jurnal Ekonomi Jurnal Ilmiah Econosains Jurnal Pendidikan Ekonomi & Bisnis JURNAL DINAMIKA MANAJEMEN DAN BISNIS Jurnal Masharif al-Syariah: Jurnal Ekonomi dan Perbankan Syariah Jurnal ASET (Akuntansi Riset) Journal of Economic, Bussines and Accounting (COSTING) Performance Indonesian Collaboration Journal of Community Services (ICJCS) Jurnal Pengabdian Masyarakat Bestari (JPMB) Journal of Social And Economics Research Inisiatif: Jurnal Ekonomi, Akuntansi Dan Manajemen Research Trend in Technology and Management Jurnal Riset Manajemen dan Ekonomi Jurnal Bisnis, Manajemen, dan Keuangan Cendikia: Jurnal Pendidikan dan Pengajaran Pusat Publikasi Ilmu Manajemen Cendikia Pendidikan Cidea Journal PENG: Jurnal Ekonomi dan Manajemen Escalate : Economics and Business Journal International Journal of Economics and Management Sciences journal of social and economic research Green Economics: International Journal of Islamic and Economic Education Sinergi : Jurnal Ilmiah Multidisiplin
Umi Widyastuti
Universitas Negeri Jakarta
Aerospace Engineering Arts Humanities Biochemistry, Genetics & Molecular Biology Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Immunology & microbiology Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Physics Social Sciences Other

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Journal : Research Trend in Technology and Management

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The Effect Of Good Corporate Governance, Profitability, and Company Size on Company Value : (Empirical Study on the Infrastructure Sector Listed on the Indonesia Stock Exchange from 2021 - 2023) Inayah, Niswah; Achmad Fauzi; Umi Widyastuti
Research Trend in Technology and Management Vol. 3 No. 3 (2025): Research Trend in Technology and Management (in progress)
Publisher : RTTM

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56442/rttm.v3i3.98

Abstract

The capital market plays a strategic role in accommodating public investment needs through various financial instruments while providing access to funding for companies to foster economic growth. A decline in stock value, which negatively affects the Composite Stock Price Index (IHSG), highlights the importance of examining internal factors influencing firm value. One such factor is Good Corporate Governance (GCG), which promotes sound management and increases investor confidence. Additionally, a company’s profitability reflects managerial efficiency in utilizing resources and generating sustainable profits. Firm size also serves as a key aspect, indicating the scale of operations and market competitiveness, which may contribute to increasing firm value. This research examines companies in the infrastructure sector listed on the Indonesia Stock Exchange (IDX) over the 2021–2023 period, drawing on a purposively selected sample of 28 firms and a total of 84 observations. To evaluate the impact of internal determinants on firm value, multiple linear regression analysis using a Random Effect Model (REM) was conducted via Eviews 12. Good Corporate Governance (GCG) was operationalized by employing proxies such as the proportion of managerial shareholding, institutional ownership, and the presence of independent commissioners. Profitability was represented through Return on Assets (ROA), whereas firm size was expressed using the logarithmic scale of total assets. To measure the dependent variable, firm value, the Tobin’s Q metric was applied, enabling a data-driven exploration of these internal influences. Based on the analysis results, it was found that managerial ownership and institutional ownership exert a positive and significant influence on firm value. In contrast, the independent board of commissioners and firm size demonstrate a negative and significant effect. Meanwhile, the profitability variable does not show a significant relationship with firm value. These findings contribute to enriching the empirical literature on internal factors affecting firm value and offer practical implications for both management and investors in formulating strategic decisions, particularly within the infrastructure sector.
Co-Authors - Maisaroh ACHMAD FAUZI Agung Dharmawan Buchdadi Agus Wibowo Agustiani, Mita Ahmad Fauzi Alda Aurelia Artagita Aldrian Aldrin Herwany Amelia Salsa Sabila Angella Priyatna Annisa Nurur Rahman Aqila Putri Rahmanita Argy Wahyu Prabowo Ati Sumiyati Atika Siti Hajar Avivi Hilwana. A Bunga Cinta Widya By Luthfi Hamdi Caroline Pertiwi Corry Yohana Darma Rika Swaramarinda Destria Kurnianti Dewi Agustin Pratama Sari Dicky Iranto Dicky Iranto Diena Noviariani Diena Noviarini Diena Noviarini Diena Novirini Dwita Darmawati Eka Faradila Yasmin Erika Takidah Ferdian Hadika Prastya Fitria Nur Aini Gabriella Indah Brigitta Gantrivita Nur Ramida Gatot Nazir Ahmad Gemah Putri Djaelani Haneul Hanif Naufal Rafii I Gusti Ketut Agung I Ketut R. Sudiarditha Inayah, Niswah Jihan Salsabila Khairunnisa M. Edo Suryawan Siregar Marsofiyati Marsofiyati Maulana Rifky Yudhira Meta Bara Berutu Meta Bara Berutu Monica Nining Lestari Muhammad Fawaiq Muhammad Fawaiq Muhammad Onto Kusumo Muhammad Rahmansyah MUHAMMAD YUSUF Muhammad Yusuf Nabila Ramadhanti Nabila Resia Isnaini Niswah Maghfira Nurhayati Indiyastuti Nurul Azizeh Nurul Faizah Nurul Khasanah Osly Usman Pandu Irawan Abdullah Pangestika Chandra Dewi Petrolis Nusa Perdana, Petrolis Nusa Purwana E.S., Dedi Putri Aldya Rosada Rachdanti, Zanisca Shalma Rihad Alfiansyah Rini Nurmala Sari Salma Rahmadani Sarwin Sarwin Saski Aulia Scorita, Kurnia Budhy Shandy Aditya Shandy Aditya Siti Helmyati Siti Nurjanah SRI LESTARI Sri Zulaihati Susanti, Santi Syifa Andarliana Putri Terrylina A. Monoarfa Terrylina Arvinta Monoarfa Terrylina Arvinta Monoarfa Titis Fatarina Mahfirah Usep Suhud Usman Mustofa Vera Intanie Dewi Vidia Ratu Balqis Malzara Widya Parimita, Widya Zakiah, Rizka Zidane Ramadhan