Pengaruh Tata Kelola dan Arus Kas Terhadap Nilai Perusahaan dengan Dewan Direksi sebagai Variabel Moderasi di Tiga Negara ASEAN
DOI:
https://doi.org/10.58344/locus.v4i5.3948Keywords:
firm value, size of audit committee, board of directors, operating cash flow, corporate social responsibility (CSR)Abstract
Reformasi tata kelola di Indonesia, Malaysia, dan Singapura terus berkembang sejak skandal Enron. Indonesia menerbitkan pedoman GCG (2006), Malaysia merevisi MCCG, dan Singapura menerapkan pendekatan “comply or explain.” Penelitian ini mengkaji pengaruh CSR, BOC, komite audit, dan OCF terhadap nilai perusahaan, dengan BOD sebagai variabel moderasi, pada perusahaan manufaktur tahun 2021–2023. Penelitian ini penelitian kausal-komparatif menggunakan SPSS 27. Hasil menunjukkan OCF signifikan terhadap nilai perusahaan tanpa moderasi BOD. Analisis antar negara dengan memasukan variabel dummy negara menunjukan tidak ada perbedaan nilai perusahaan ditiga negara. Dengan BOD, pengaruh BOC menjadi signifikan. Efek komite audit lebih kuat di Singapura dibanding Indonesia, sedangkan pengaruh BOC di Malaysia dan Singapura lebih lemah dibanding Indonesia.
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