Financial Performance and Dividend Policy on Firm Value: The Moderating Role of Corporate Governance in Indonesian State-Owned Enterprises
DOI:
https://doi.org/10.14738/abr.1401.19759Keywords:
Financial Performance, Dividend Policy, Corporate Governance, Firm Value, Indonesia Stock ExchangeAbstract
This study aims to analyze the effect of financial performance and dividend policy on firm value, with corporate governance as a moderating variable. The population of this study was state-owned enterprises listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. Data collection used a purposive sampling method, with 56 annual reports of state-owned enterprises as a sample. The analysis used Multiple Linear Regression Analysis and the Moderated Linear Regression (MRA) test. The results indicate that financial performance and dividend policy have a significant positive effect on firm value. Meanwhile, financial performance and dividend policy, with corporate governance as a moderating variable, do not significantly affect firm value.
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