THE EFFECT OF GOOD CORPORATE GOVERNANCE ORGANS ON COMPANY VALUE WITH CAPITAL STRUCTURE AS INTERVENING VARIABLE (EMPIRICAL STUDY ON INFRASTRUCTURE, UTILITIES, AND TRANSPORTATION COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE 2015 – 2020)

Abstract

This research aims to obtain empirical evidence on the influence of Managerial Ownership, Institutional Ownership, Board of Commissioners, and Independent Commissioners on firm Value with Capital Structure as intervening variable on infrastructure, utility, and transportation companies in Indonesia. The independent variables in this research are Managerial Ownership, Institutional Ownership, Board of Commissioners, and Independent Commissioners. This research sample is in the form of infrastructure, utility and transportation companies registered with the IDX in 2015-2020. by purposive sampling method, selected 15 companies with a total of 90 observations for 6 years. The analytical method used in this study utilizes multiple linear regressions. The result of this research indicates that Managerial Ownership, Board of Commissioners and Independent Commissioners partially have no significant effect on firm value, institutional ownership has a significant effect on firm value. Managerial Ownership, Institutional Ownership, Board of Commissioners and Independent Commissioners Simultaneously have a significant effect on firm value, independent commissioners have a significant positive effect on firm value. Capital structure is not a mediator of the influence of Managerial Ownership, Institutional Ownership, Board of Commissioners and Independent Commissioners on firm value.