The effect of good corporate governance on a firm's value with financial performance as the intervening variable (empirical study on state-owned enterprises listed on IDX 2012-2016)

The purpose of this research is to examine the effect of good corporate governance on a firm's value with financial performance as the mediating variable. The secondary data used was data published on state-owned enterprise companies listed in the Indonesia Stock Exchange from 2012-2016. The sampling technique used was purposive sampling. There were 89 state-owned enterprise companies listed in the 2012-2016 period. Hypothesis testing was done by using a regression analysis model contained in SPSS version 20 for windows. The results of this study showed: 1) financial performance did not mediate the relationship between the size of the board and a firm's value; 2) financial performance mediates the relationship between the size of the independent commissioners and a firm's value; 3) financial performance did not mediate the relationship between the size of the audit committee and a firm's value.