PENGARUH CORPORATE GOVERNANCE PERCEPTION INDEX (CGPI) DAN KARAKTERISTIK PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN MANAJEMEN LABA SEBAGAI VARIABEL MODERATING PADA PERUSAHAAN GO PUBLIC YANG BERPARTISIPASI DALAM CGPI DAN TERDAFTAR PADA BURSA EFEK INDO

Abstrak

The financial statements is one form of management accountability for the
management of the resource owner to owner companies that contain information
related to the company's economic condition and used as a window of information
to outsiders. One part of the financial statements are often taken as the basis for a
decision that the earnings information. Profit information may describe a good or
bad performance of a company which will have an impact on the market value of
the company and also may affect the interest of investors to invest or withdraw their
investment from a company. The increasing complexity of the enterprise
management activities increases the need for the practice of good corporate
governance. Weak implementation of corporate governance is characterized by
behavioral management began concerned itself with ignoring the interests of the
owner of the company (investor), then this caused a collapse in investor
expectations about the rate of return (return) on investments in companies in the
country. This study aims to determine the effect CGPI and the characteristics of the
company to the value of the company with earnings management as moderating
variable on publicly traded companies to participate in the CGPI partially and
simultaneously.
Design of this research applies research type of causality. Data analysis
methods Moderating Regression Analysis (MRA) and test the feasibility of this
model. The population used is the company to go public participating in the CGPI
and is listed on the Indonesia Stock Exchange (BEI). The sampling technique used
purposive sampling.
The results of this study partially CGPI and IOS positive effect on firm
value. Leverage, liquidity and earnings management has no effect on the value of
the company. Simultaneously CGPI, leverage, liquidity, investment opportunity set
and profit management striving to firm value. For moderating variable, profit
management CGPI found moderating influence, leverage, and IOS to corporate
value. While the influence of the liquidation of the firm value is not proven
moderated by earnings management.
The findings of this study, firstly, the value of the company in the sample
companies show the value of good company where PBV values above 1, which
shows the market value is higher than its book value. Secondly, Although the
company in Indonesia has implemented GCG and get the average score by category