Penciptaan Nilai Pasar oleh Perusahaan Terpercaya

  • Lenni Yovita Dian Nuswantoro University
  • Ika Kristianti Universitas Kristen Satya Wacana
Keywords: profitability performance, corporate governance, market value creation

Abstract

The purpose of this study is to test the influence of profitability performance (Return on Assets and Return On Equity), Corporate Governance (Corporate Governance Perception Index) on market value creation (Market Value Added). Using Indonesian listed companies that was ranked in CGPI from 2007 to 2010, the final sample is 40 companies.Based on Multiple Regression Analysis, the empirical resultsshow that profitability performance (ROA) and Corporate Governance (CGPI) are positively significant associated with market value of the firm while profitability performance (ROE) has no effect on market value.This study has several implications: (1)Providing empirical evidence on the process of market value creation and supporting theories which related to value creation, including Signalling Theory, Shareholder Value Creation, and Agency Theory, (2) Showing an application view of the sustainability of market value creation by achieving profitability performance which being target together between shareholder and management, applying Good Corporate Governance.

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Published
2019-03-08
Section
Articles