PENGARUH STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN YANG DIMEDIASI ENVIRONMENTAL PERFORMANCE DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERATOR PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2013 – 2019

Abstract

This study aims to determine the effect of disclosure of capital structure on firm value with environmental performance as a mediating variable and good corporate governance as a moderating variable. The independent variable in this study is the capital structure. The dependent variable is firm value. The mediating variable in this study is environmental performance which is measured using the PROPER rating. And the moreration variable is good corporate governance. The population in this study were all manufacturing companies officially listed on the Indonesia Stock Exchange for the period 2013 – 2019 as many as 144 companies. The data is reprocessed according to the needs of the model used. The analytical method used in this research is path analysis. The sampling technique chosen was purposive sampling method. The sample in this study were 41 companies. The results of this study indicate that; First, capital structure has a positive effect on environmental performance; Second, capital structure has a positive and significant effect on firm value; Third, environmental performance has a positive effect on firm value; Fourth, capital structure has an effect on firm value with environmental performance as an intervening variable; Fifth, good corporate governance strengthens the relationship between environmental performance and firm value.

Keywords : Firm Value, Capital Structure, Environmental Performance, Good Corporate Governance