THE EFFECT OF FIRM PERFORMANCE AND BOARD SIZE ON FIRM VALUE

Falya Sabrina Alsys, Maya Novitasari, Anggita Langgeng Wijaya

Abstract


This research aims to examine the influence of Firm Performance and Board Size on Firm Value in companies operating within the Consumer Non-Cyclical sector during the 2021–2024 period. A total of 81 companies were selected as the sample, resulting in 325 observations after eliminating outliers. The sample was chosen using a purposive sampling technique. The data analysis was conducted using multiple linear regression in SPSS version 25. This study is based on stakeholder theory, which highlights the possible conflicts of interest between shareholders and management, as well as the essential role of corporate governance in optimizing firm value. The results indicate that both Firm Performance and Board Size significantly impact Firm Value. These findings highlight that corporate performance and board composition are key determinants in enhancing firm value, particularly in the Consumer Non-Cyclical sector. For subsequent studies, it is suggested to incorporate a Corporate Social Responsibility (CSR) variable to broaden the research model and examine its potential role as a mediator or moderator in the relationship between Firm Performance, Board Size, and Firm Value.

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References


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