Gorontalo Accounting Journal
Volume 9 Issue 2 October 2026

Determinant of Firm Value in Consumer Non Cyclicals Sector Companies

Arianti, Baiq Fitri (Unknown)
Hidayat, Yusuf (Unknown)
Muhammad Ridwan (Unknown)



Article Info

Publish Date
01 Oct 2026

Abstract

The purpose of this research is to assess and empirically understand the influence of companies in the consumer non-cyclicals sector on company value in terms of capital structure, investment decisions, and Good Corporate Governance. This research involves all companies in the consumer non-cyclicals sector listed on the Indonesia Stock Exchange from 2019 to 2023, with a sample size of 64 companies. This study employs a quantitative approach using panel data regression analysis, assisted by Eviews version 13. The findings of this research indicate that capital structure does not empirically contribute to an increase in company value, investment decisions positively influence the increase in company value, and Good Corporate Governance does not contribute to an increase in company value. Research on company value has been widely conducted, but studies from the perspective of investment decisions using Tobin's q theory in non-cyclical consumer sector companies have not been explored much. With this research, companies can enhance their value through good company performance conditions with increased profitability, which will gain additional investment value and can be beneficial for investors.

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Journal Info

Abbrev

gaj

Publisher

Subject

Economics, Econometrics & Finance

Description

Ruang lingkup jurnal ini meliputi (1) Akuntansi Manajemen, (2) Akuntansi Sektor Public, (3) Akuntansi Keuangan, (4) Auditing, (5) Perpajakan, (6) Akuntansi Syariah. serta Bidang Akuntansi ...