THE ROLE OF IDIOSYNCRATIC RISK AND CORPORATE GOVERNANCE IN FIRM VALUE MODERATED BY DIVIDEND POLICY

BLASIUS LEONARDO, WOERSOK THE ROLE OF IDIOSYNCRATIC RISK AND CORPORATE GOVERNANCE IN FIRM VALUE MODERATED BY DIVIDEND POLICY. [TA] (Unpublished)

Text Blasius 122110003 Tugas Akhir.pdf Download (962kB)

Abstract

This study aims to examine the effect of idiosyncratic risk and corporate governance on firm value, with dividend policy as a moderating variable. Firm value is measured using the Price to Book Value (PBV) ratio and Tobin’s Q. Idiosyncratic risk represents company-specific risk that cannot be diversified, while corporate governance is measured through board size, board of commissioners, and the proportion of independent commissioners. The research sample consists of companies consistently listed in the Kompas 100 Index from 2020 to 2024, meeting specific criteria such as having positive equity and not belonging to the financial sector. The data was analyzed using panel data regression with the help of EViews 8 software. This study contributes theoretically by demonstrating that idiosyncratic risk can signal growth potential in emerging markets, challenging traditional risk aversion views. It also refines corporate governance theory by showing the selective impact of governance mechanisms on firm value. The results show that idiosyncratic risk and several components of corporate governance significantly affect firm value. In addition, dividend policy is proven to moderate the relationship between idiosyncratic risk, corporate governance, and firm value. These findings provide important implications for company managers, investors, and policymakers in enhancing firm value through effective risk management, governance, and dividend strategy.

Item Type:	TA
Uncontrolled Keywords:	Idiosyncratic Risk, Corporate Governance, Dividend Policy, Firm Value
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance
Divisions:	Fakultas Ekonomi dan Bisnis > S1 Akuntansi
Depositing User:	umclibs1
Date Deposited:	18 Nov 2025 07:46
Last Modified:	18 Nov 2025 07:46
URI:	http://repository.machung.ac.id/id/eprint/1008

Actions (login required)

View Item