The Effect of Good Corporate Governance on Corporate Value of Mining Companies Listed on the Indonesia Stock Exchange 2018-2020

Nurul Mutiah(1*), M. Yusuf A. Ngampo(2), Nuraisyiah Nuraisyiah(3),

(1) Universitas Negeri Makassar
(2) Universitas Negeri Makassar
(3) Universitas Negeri Makassar
(*) Corresponding Author



Abstract


The data analysis used is multiple linear regression analysis, classical assumption test and hypothesis testing. Based on the results of data analysis, the equation model Ŷ = 32,724 + 1362,303X1 + 102,029X2 which means managerial ownership as X1 and institutional ownership as X2 shows that Good Corporate Governance has a positive effect on firm value, where each addition of one unit of managerial ownership, the value of the company experiences an increase of 1362,303 units and the addition of one unit of institutional ownership, the value of the company has increased by 102,029 units. The results of the study show that (1) Good Corporate Governance with managerial ownership indicators partially has a positive effect on firm value where the multiple regression coefficient value is 1362,303 and a significance of 0.008 <0.05 so that the hypothesis (H1) is accepted (2) Good Corporate Governance with indicators institutional ownership has a positive and significant effect on firm value where the multiple regression value is 102,029 and a significance value is 0.008 <0.05 so that the hypothesis (H2) is accepted (3) Good Corporate Governance with indicators of managerial ownership and institutional ownership simultaneously affects firm value by significance value of 0.000 <0.05 so that hypothesis (3) is accepted.

Keywords


Good Corporate Governance; Managerial Ownership; Institutional Ownership; and Company Value

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