<![CDATA[This research examines the impact of liquidity, independent commissioners, institutional ownership, audit committees and investment opportunities on firm value, as well as to examine the role of firm size as a moderating variable. This quantitative study utilizes secondary data obtained from the annual reports of property and real estate sector companies listed on the Indonesia Stock Exchange for the 2022–2025 period. Through purposive sampling, a sample of 35 companies was selected, resulting in a total of 140 observations. Data analysis was conducted using panel data regression via EViews software. The results indicate that, individually, liquidity, independent commissioners, institutional ownership, audit committees, and investment opportunities do not have a significant effect on firm value. Moderation analysis reveals that firm size does not strengthen the influence of liquidity, independent commissioners, institutional ownership, or investment opportunities on firm value. However, firm size was found to significantly strengthen the influence of the audit committee on firm value. These findings suggest that an increase in firm value is determined not only by financial conditions or the presence of corporate governance mechanisms but also by the effectiveness of the audit committee in supporting the quality of financial reporting, compliance with accounting standards and information transparency, particularly in large companies.]]>
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