Non-Financial Factors as Determinants of Firm Value With Earning Management as a Moderating Variable on SRI Kehati Index in Indonesia Stock Exchange
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 11
Abstract
Nowadays, the implementation of non financial factors such as CSR Disclosure, Intellectual Capital, and Good Corporate Governance are seriously considered by many companies. The samples were the companies listed in the Stock Index of SRI-KEHATI in the period of 2012-2016. The dependent variable consisted of firm value. The independent variables consisted of CSR disclosure, Intellectual Capital and GCG. The moderating variable in this research was Earning Management. This research also used Firm Size and Profitability as the controlling variables. The data were analyzed by employing Moderating Regression Analysis. The result of the research demonstrated that: (1)The disclosure of Corporate Social Responsibility had positive and insignificant influence on the firm value; (2) Intellectual Capital had a positive and significant influence on the firm value; (3) Good Corporate Governance had a positive and significant influence on the firm value; (4) Earning Management was not able to moderate the correlation between the variable of CSR and firm value; (5) Earning Management was not able to moderate the correlation between the variable of intellectual capital and firm value; (6) Earning Management was not able to moderate the correlation between the variable of good GCG and firm value; (7) Firm Size as the controlling variable had a negative and significant influence on firm value; and (8) Profitability as the controlling variable had a positive and significant influence on firm value.
Authors and Affiliations
Ruslan Juliana Pardosi, Isfenti Sadalia, Amlys Syahputra Silalahi
Keywords
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- EP ID EP422190
- DOI 10.9790/487X-2011034860.
- Views 61
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