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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 Aam Slamet Rusydiana, Aam Slamet Abidin, Gita Rosiliana Aditya, Yogga Aeni, Nurul Nur Afiani, Mirza Zulmi Afifah Afri Cahyani, Ikah Afrizal Zaki, Anas Aji , Mukhlis Prasetyo Akhmad Darmawan Alfalisyado Alfalisyado Alfalisyado, Alfalisyado Ali, Abdulmalek Amelika, Aprilita Tri Amir Amir Anak Agung Gede Sugianthara Ani Kusbandiyah Anindita, Kurniasih Setya Arini Hidayah Arini Hidayah, Arini Arofah, Rifka Utami Aryoko, Yudhistira Pradhipta Ayu Aradhea, Nissa Azafii, Azka Saputra Azaria, Muhammad Javier Fausta Azizah, Farinda Hauna Azzahara, Cantik Tiara Maharani Bagis, Fatmah Baligh Al Haj Basuki, Tri Wiyana Budi Santoso, Suryo Cahyani, Ikah Afri Damayanti, Dika Dheya Alhag Alsharabi Dinda Permatasari, Dinda Eko Hariyanto Eko Haryanto Erny Rachmawati Fahitaratih, Syafira Maistin Farah Almas Fadilah Fatimah Fatmah Bagis Fauzah, Risma Fauziridwan, Meydy Febiani, Syarila Asri Fitriati, Azmi Frisna, Anindia Gemintang, Raihan Akbar Cahya Gunawan Putri, Nadya Loverina Haliza, Vivi Dwi Hamam, Zaki Nur Handayani, Erna Haq, Irdhiana Ilma Hari, Minti Haryanto, Totok Hashmi, Maria Hengky Widhiandono, M.Si. S.E. Herni Justiana Astuti Hidayanti, Febriana Ibarra, Venus C. Ifatunisa, Mutia Inayati, Nur Isna Islami, Adelia Wahyu Iwan Fakhruddin Jaroenwanit, Pensri Justiana Astuti, Herni Kharisma, Billy Widoera Kharismasyah, Alfato Yusnar Kusuma Dewi, Yonanda Roro Laeli, Divasa Fatikhatul Lestiana, Eli Maulida Nurul Innayah Maulidina, Azizah Melda Anggraini Miftahuddin, Muchammad Agung Mohamed, Liban Isak Mudjiyanti, Rina Nugroho, Bambang Haryo Nur Ainun, Rania Nur Reza, Anggita Nurjanah, Anis Rofika Nurjannah, Afifah Zahroh Pandansari, Tiara Pragita, Amellia Pramesti, Shasa Pramurindra, Rezky Pratama, Andika Canggah Pratami, Naturi Diah Purnadi, Purnadi Rabbani, Agum Akbar Rahmah, Nunung Aini Rahmawati, Ika Yustina Rahmawati, Meyssy Trisa Ramadani, Arienda Gitty Ramadhan, Sukmadianto Tri Ratna Kartika Wati Rayhan, Ainun Putri Restu Frida Utami Rif'aa, Naela Aziizahtur Rifka Utami Arofah Rina Mudjiyanti Rohmah, Aulia Nur Roslan, Nur Hafiza Salsabilla, Syaefa Intan Salvati, Adelia Sari, Lelly Kartika Sayidatina, Syahlira Sobrotul M.Si SE. Ilmiani Sri Wahyuni Sri Wahyuni Suhailah, Zulfa Sulistyani Budiningsih SURYO Budi Santoso Sutra, Bisma Anjala Suyoto Suyoto , Suyoto Totok Haryanto Wahid, Dimas Lanang Rizky Wiasih, Dina Retno Wida Purwidianti Widhiandono , Hengky Widhidanono, Hengky Widyaningtyas, Dian Widyastuti, Ani Nor Witasari, Rindi Wulan Ndatika, Utyea Wulan, Zani Nawang Yudi Firmansyah, Difandika Yuswandani, Arafah Esa Zahra, Hakimatuz Zamakhsyari, Luthfi