Abstract:
This study examines the effect of corporate governance and corporate
sustainability on company value as measured using Tobin's Q. The independent
variables used include managerial ownership, institutional ownership, the number
of audit committees, and corporate social responsibility. This study is based on
secondary data from 12 companies with 60 observations during 2019-2023. The
focus of this study is companies in the non-financial sector that have been in the
LQ45 index for at least four years. Data was collected from annual reports and
sustainability reports obtained from the Indonesia Stock Exchange (IDX) or the
official websites of each company. Multiple linear regression was used to test the
significance and importance of managerial ownership, institutional ownership, the
number of audit committees, and corporate social responsibility in LQ45 companies
for the period 2019-2023. The results show that managerial ownership, institutional
ownership, and corporate social responsibility have a positive and significant effect
on firm value. Meanwhile, the number of audit committees does not affect firm
value. The limitations of this study are that it only focuses on non-financial
companies listed on the LQ45, and the research period is only five years.
Suggestions for future researchers include adding other variables not mentioned in
this study, expanding the scope of the research companies, and using other company
value measurements.
