The Impact of CapitallStructure, FirmsSize, and Firm Growth on Firm Value with Good Corporate Governance as Moderator

In today’s globalized and complex economic environment, enhancing firm value stands as a paramount objective for firms navigating competitive markets. Safeguarding this value through sustainable practices is crucial for survival amidst fierce competition. This study investigates the moderating role of good corporate governance in the relationship between capital structure, firm size, firm growth, and firm value, focusing specifically on Property and Real Estate companies listed on the IDX from 2019 to 2023. Utilizing purposive sampling, data from 16 companies were analyzed using moderated regression analysis (MRA).
Findings reveal that neither capital structure nor firm growth significantly impacts firm value, whereas firm size shows a negative effect. Good corporate governance, however, does not moderate the relationships studied. Implications highlight the imperative for enhanced governance practices to optimize firm value and the necessity for adaptive management strategies to tackle challenges posed by larger firm sizes. Future research should delve deeper into the moderation mechanism of good corporate governance in the context of certain industries, and consider additional variables to gain a better understanding.