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This study aims to analyze the effect of Corporate Governance (CG) on firm value with financial performance as a moderating variable. CG is proxied by institutional ownership, managerial ownership, and an audit committee. Financial performance is proxied by Return On Asset (ROA). The population used are conventional commercial banks listed on the IDX for 2019-2022, with 172 sample data from 43 banks determined based on purposive sampling. The results showed that institutional ownership, managerial ownership, and audit committee do not affect firm value. Financial performance cannot moderate the influence of institutional and managerial ownership on firm value. Financial performance can moderate the influence of the audit committee on firm value. Meanwhile, financial performance can moderate the influence of the audit committee on firm value.
Arbaina et al. (Sun,) studied this question.