Corporate Governance And Firm Value: The Mediating Role Of Intellectual Capital Disclosure In Indonesian Manufacturing Firms
European Journal of Molecular & Clinical Medicine,
2020, Volume 7, Issue 2, Pages 5320-5335
AbstractThe objective of this study is to examine the relationship between corporate governance (managerial ownership and institutional ownership) and firm value with intellectual capital disclosure as a mediating variable for a panel sample of 358 manufacturing firms in Indonesia during 2016-2018. We found that corporate governance is associated with intellectual capital disclosure and firm value. Intellectual capital disclosure has a positive effect on firm value. Splitting the firms into small and large firm subsamples, we observe some influence of corporate governance on intellectual capital disclosure and firm value. Furthermore, intellectual capital disclosure mediates the effect of some corporate governance on firm value for the large firms.
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