Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal Pattimura Proceeding : Conference of Science and Technology
Dewi, Aisyah Kartika
Unknown Affiliation
Agriculture, Biological Sciences & Forestry Astronomy Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Chemistry Civil Engineering, Building, Construction & Architecture Control & Systems Engineering Energy Engineering Materials Science & Nanotechnology Mathematics Physics

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
Does GCG Structure Create Value? Evidence from Indonesia’s Food and Beverage Sector Dewi, Aisyah Kartika; Sari, Syarifah Ratih Kartika; Wildaniyati, Arini
Pattimura Proceeding 2026: Proceeding of the 3rd International Conference of International Conference on Business and Eco
Publisher : Pattimura University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30598/pcst.2026.iconbe.p1-14

Abstract

This study aims to examine the effect of Good Corporate Governance (GCG) mechanisms and profitability on company value, with GCG as a structurally measured governance mechanism and profitability as the main indicator of financial performance. Unlike the normative approach, which assumes that GCG structures automatically increase company value, this study treats GCG as a formal mechanism whose effectiveness needs to be tested empirically. The research sample consists of companies in the food and beverage sub-sector listed on the IDX during the 2022–2024 period, resulting in 222 observations. Company value is proxied using Tobin's Q, while GCG mechanisms are measured through the number of board members, independent commissioners, directors, and audit committees. Profitability is proxied by Return on Assets (ROA). The analysis was conducted using multiple linear regression to test the associative relationship. The results show that profitability has a significant positive effect on company value, while most structural GCG mechanisms do not show a consistent positive effect, and some even show a negative relationship. These findings indicate that the formal structure of GCG has limitations in explaining company value, and that the market responds more to financial performance than to normative assumptions about the effectiveness of governance
Co-Authors Sari, Syarifah Ratih Kartika Wildaniyati, Arini