Published date: May 03 2024

Journal Title: KnE Social Sciences

Issue title: 8th Sriwijaya Economics, Accounting, and Business Conference (8th SEABC 2023)

Pages: 121–142

DOI: 10.18502/kss.v9i14.16097

Shafa SafiraSriwijaya University

Yusnaini Yusnainiyusnaini@fe.unsri.ac.idSriwijaya University

This research aims to test and analyze the influence of agency costs, intellectual capital, managerial ownership, and institutional ownership on firm value with financial performance as a moderating variable. The population in this study are LQ45 index companies listed on the Indonesia Stock Exchange (BEI) for the 2020–2022 period. This research used a purposive sampling technique with a sample size of 18 companies for three consecutive years for a total of 54 observations. Partial research results show that agency costs and intellectual capital have no effect on firm value. Meanwhile, managerial ownership and institutional ownership have a positive effect on firm value. Financial performance is unable to moderate the influence of agency costs on firm value, nor is it able to moderate the influence of intellectual capital on firm value. However, financial performance can moderate the influence of managerial ownership and the influence of institutional ownership on firm value.

Keywords: agency cost, intellectual capital, managerial ownership, institutional ownership, firm value, financial performance

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