Abstract

This study analyzed the effect of Good Corporate Governance (GCG) and dividend policy on the value of non-financial companies listed on the Indonesia Stock Exchange (IDX) during the period 2019-2023. GCG is represented by independent commissioners and managerial ownership, while dividend policy is represented bye the DPR. The PBV ratio was used to measure the value of the companies, with 44 companies selected by purposive sampling from a total of 857 companies. This study applies quantitative methods using secondary data from company financial reports, analyzed through panel data regression using Eviews 12. The result reveal that managerial ownership has a negative and significant impact on company value, while independent commissioners and dividend policy have no significant impact.

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