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The purpose of this study is to examine the effect of Good Corporate Governance (GCG), financial performance, and Earning Per Share (EPS) on firm value. The object of this research consists of state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange during the period of 2021–2024. This study employs a quantitative approach using secondary data in the form of annual financial statements as the primary source. The sample was selected using purposive sampling based on predetermined criteria, ensuring that only companies with complete data and consistent reporting were included in the analysis. The independent variables analyzed include the audit committee, independent commissioners, institutional ownership, Return on Assets (ROA), and Earning Per Share (EPS). Multiple linear regression analysis was used to process the data in this study, allowing the researchers to examine the simultaneous and partial effects of the variables on firm value. The findings indicate that firm value is significantly influenced by financial performance, particularly ROA, highlighting the importance of operational efficiency and profitability in enhancing shareholder wealth. While certain GCG variables such as institutional ownership showed positive influence, other elements like audit committees and independent commissioners produced mixed results, suggesting that governance mechanisms may have varying effects depending on organizational context. Meanwhile, EPS demonstrated inconsistent results in relation to firm value, implying that market perceptions of earnings may not fully capture the impact on overall firm valuation. This study provides insights for policymakers, investors, and corporate managers on the relative importance of governance and financial indicators in value creation for state-owned enterprises.

This study aims to analyze the effect of Good Corporate Governance (GCG), Firm Size, and Sales Growth on Financial Performance at PT Ace Hardware Indonesia Tbk listed on the Indonesia Stock Exchange (IDX) during the 2015–2024 period. Good Corporate Governance (GCG) in this study is proxied by institutional ownership, financial performance is measured using Return on Assets (ROA), firm size is measured by the natural logarithm of total assets, and sales growth is measured using the sales growth ratio. This study employed a quantitative method with a descriptive approach. The data used were secondary data in the form of annual financial statements obtained from the official websites of the IDX and the company. Data analysis techniques included descriptive statistics, classical assumption tests, multiple and simple linear regression analysis, and hypothesis testing consisting of t-test, F-test, and coefficient of determination with the assistance of SPSS version 27 software. The results of the study indicate that partially, the Good Corporate Governance (GCG) variable has a t-value of -1.526 < t-table 2.447, meaning that it has no significant effect on financial performance. The firm size variable has a t-value of -2.857 > t-table 2.447, indicating a significant negative effect on the company’s financial performance. The sales growth variable has a t-value of 1.593 < t-table 2.447, meaning that it has no significant effect on financial performance. Simultaneously, Good Corporate Governance (GCG), firm size, and sales growth have a significant effect on financial performance, with an F-value of 13.023 > F-table 4.76 and a significance value of 0.005 < 0.05. This study is expected to provide consideration for management and investors in decision-making and serve as a reference for future research in related fields.

This study analyzes the effect of Integrated Reporting (IR) on the Cost of Equity (COE) by examining the moderating role of Good Corporate Governance (GCG) mechanisms in companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2024 period. Governance quality is operationalized through two key mechanisms: institutional ownership and the proportion of independent board of commissioners. Employing Process Hayes Model 2 with bootstrap iterations of 5,000, and a final sample of 323 company-year observations after outlier removal, the study finds that Integrated Reporting does not exert a significant direct influence on Cost of Equity. However, the proportion of independent board of commissioners significantly moderates the negative relationship between Integrated Reporting and Cost of Equity, while institutional ownership fails to produce a significant moderating effect. Notably, under conditions of high institutional ownership paired with a low proportion of independent commissioners, Integrated Reporting paradoxically increases the Cost of Equity, underscoring the critical role of internal governance mechanisms in establishing the credibility of disclosed information. These findings confirm that the effectiveness of Integrated Reporting in reducing Cost of Equity is contingent upon the quality of the governance environment- particularly board independence. The study contributes to both theory and practice by demonstrating that the economic benefits of Integrated Reporting are realized only when accompanied by robust independent oversight structures.

This study aims to analyze the influence of Good Corporate Governance (GCG) mechanisms, proxied by the Board of Commissioners and Audit Committee, as well as Environmental Performance on Financial Performance in food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2023 period. The research method used is quantitative, with a purposive sampling technique that resulted in 22 companies as samples, totaling 88 observations over the four-year study period. The research data is secondary data obtained through financial statements and annual reports from the official IDX website. Literature reviews indicate inconsistencies in previous studies; however, the hypothesis of this research suggests that the Board of Commissioners, Audit Committee, and Environmental Performance have a positive and significant effect on the company's financial performance. The board of commissioners and audit committee play a role in strengthening the oversight function to minimize agency costs and improve efficiency. Meanwhile, good environmental performance, measured through PROPER ratings, is expected to enhance the company's positive image in the eyes of investors and stakeholders. 

Penelitian ini bertujuan menganalisis pengaruh Good Corporate Governance (GCG), Financial Risk, dan Capital terhadap Opini Audit, dengan Earning sebagai variabel intervening dan Reputasi Kantor Akuntan Publik (KAP) sebagai variabel moderasi, pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020–2024. Penelitian menggunakan pendekatan kuantitatif kausal dengan data panel dari 15 bank yang dipilih secara purposive sampling, sehingga diperoleh 75 observasi bank-tahun. GCG diproksikan dengan jumlah Dewan Direksi dan Komite Audit; Financial Risk diproksikan dengan Non-Performing Loan (NPL) dan Loan to Deposit Ratio (LDR); Capital diproksikan dengan Debt to Equity Ratio (DER) dan Debt to Asset Ratio (DAR); Earning diproksikan dengan Return on Assets (ROA) dan Return on Equity (ROE); dan Opini Audit diukur dengan skor 1–5 berdasarkan jumlah catatan tambahan auditor. Data dianalisis menggunakan Partial Least Squares Structural Equation Modeling (PLS-SEM) berbantuan SmartPLS dengan konstruk formatif dan prosedur bootstrapping 5.000 resample. Hasil penelitian menunjukkan Financial Risk dan Capital berpengaruh negatif signifikan terhadap Earning, sedangkan GCG tidak berpengaruh signifikan. GCG dan Capital berpengaruh signifikan meskipun dengan arah negatif terhadap Opini Audit, sementara Financial Risk dan Earning tidak berpengaruh signifikan. Earning tidak terbukti memediasi pengaruh variabel eksogen terhadap Opini Audit, dan Reputasi KAP tidak terbukti memoderasi hubungan Earning-Opini Audit, meskipun berpengaruh positif secara langsung terhadap Opini Audit. Temuan ini mengindikasikan bahwa pada industri perbankan yang sangat teregulasi, opini audit lebih ditentukan oleh kewajaran penyajian laporan keuangan dan kredibilitas auditor dibandingkan kinerja profitabilitas semata.

This research aims to investigate the impact of Good Corporate Governance (GCG) which are measured by 3 indicators; institutional ownership, managerial ownership, board indeoendence, and Corporate Social Responsibility Disclosure on Tax Avoidance in Multinational Companies on Indonesia. The study used multiple linear regression with periods start from 2022 until 2024. The sample of this study is a multinational companies in Indonesia with the total of 47 samples for 3 years, the criteria of the company can be said multinational companies is if the companies had a entities in more than one country. Tax avoidance is measured using the Cash Effective Tax Rate (CETR), while GCG variables and CSR disclosure are measured based on relevant ownership structures, board composition, and the Global Reporting Initiative (GRI) index. The result shows that Institutional ownership had a significantly negative effect of tax avoidance, while the other three independent variables had no significant power in Tax Avoidance. This study concludes that tax avoidance in multinational companies is a complex phenomenon influenced by various internal and external factors beyond the scope of this research. The findings provide practical implications for regulators and investors and suggest that future research should consider additional variables, longer observation periods, and alternative tax avoidance proxies.

This study discusses the function of corporate criminal liability for State-Owned Enterprises (SOEs), particularly SOEs, by examining a case of corruption in the sale of commodities at Perum Bulog Jakarta in 2022-2023, which caused financial losses to the state amounting to approximately IDR 7.192 billion. This case illustrates the abuse of authority by SOE officials, which not only reflects individual violations but also is a symptom of weaknesses in the culture of internal control and compliance in state-owned companies. The purpose of this study is to examine the regulation and application of the principle of corporate criminal liability in State-Owned Enterprises (SOEs) with reference to Law Law Number 31 of 1999 in conjunction with Law Number 20 of 2001 concerning Eradication of Corruption Crimes, the latest Criminal Code (Law Number 1 of 2023), and Supreme Court Regulation Number 13 of 2016. The method used is normative legal research with a juridical approach, which focuses on the review of legislation, the concept of corporate criminal liability, and the analysis of related court decisions. The results of the study show that acts of corruption involving Bulog have fulfilled the elements of corporate criminal liability, because they were carried out in the exercise of official authority and were intended for the benefit of the institution. The application of the provisions in the new Criminal Code, particularly Articles 45 to 47 and Article 118, confirms the position of corporations as legal subjects in the criminal law system. The implications of this research highlight the need to strengthen the Good Corporate Governance (GCG) system in SOEs and the need for consistent enforcement of corporate criminal liability by law enforcement officials to ensure justice, transparency, and the prevention of structural corruption in Indonesia.  

The primary focus of this research is to evaluate the influence of Good Corporate Governance (GCG), profitability levels, and entity scale on the market value of coal mining companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2023. This study adopts a quantitative design by utilizing secondary data from the official IDX website, where 8 companies were selected as samples from a total population of 34 coal sub-sector companies through purposive sampling techniques. Data processing was carried out through panel data regression analysis using Eviews 12 software. The research data indicates that, independently, the implementation of good corporate governance and the level of profit acquisition do not contribute significantly to determining the value of the entity. Conversely, company size is proven to have a significant negative impact. Simultaneous testing confirms that these three independent variables collectively have a significant effect on company value. These findings indicate the need for strategies that consider factors beyond good corporate governance and profitability in efforts to increase company value, such as operational efficiency and proper asset management.

This study aims to analyze the implementation of Good Corporate Governance (GCG) principles at PT Bank Mandiri (Persero) Tbk as one of the state-owned banks that plays a strategic role in the Indonesian banking system. The implementation of GCG is crucial in maintaining public trust, improving performance, and ensuring business sustainability in the banking sector. This research employs a qualitative method with a descriptive approach, focusing on secondary data analysis obtained from annual reports, corporate governance reports, sustainability reports, and official information published on the website of PT Bank Mandiri (Persero) Tbk. The results indicate that Bank Mandiri has consistently implemented the principles of transparency, accountability, responsibility, independency, and fairness in its corporate governance system. These principles are reflected in information disclosure practices, clear organizational structures, regulatory compliance, independent decision-making processes, and fair treatment of all stakeholders. Overall, the implementation of GCG at PT Bank Mandiri (Persero) Tbk contributes positively to strengthening internal control systems, enhancing public trust, and supporting the stability and sustainability of banking operations.

The policy of involving expatriates in the board of directors of State-Owned Enterprises (SOEs) has become a debated issue, particularly regarding its implications for corporate governance and national workforce interests. The main problem discussed in this article is how the policy of expatriate involvement in the board of directors of PT Garuda Indonesia is viewed from the perspective of Good Corporate Governance (GCG). This study aims to analyze the suitability of the policy with GCG principles and its implications for corporate governance and company performance. The research method used is a literature review by examining laws and regulations, academic journals, policy reports, and other relevant secondary sources. The analysis is conducted based on five main GCG principles, namely transparency, accountability, responsibility, independence, and fairness. The results show that the involvement of expatriates in the board of directors of PT Garuda Indonesia has the potential to strengthen corporate governance through the adoption of global managerial standards, improvement of institutional credibility, and acceleration of organizational transformation and efficiency. However, this policy also faces challenges, especially related to transparency in the selection process and the assurance of knowledge transfer to local human resources. It can be concluded that the expatriate involvement policy will provide optimal benefits if it is implemented consistently with GCG principles and accompanied by a strong commitment to strengthening local managerial capacity.