The Influence of Macroeconomics, Investment Decisions, Capital, and Good Corporate Governance on Firm Value with Financial Risk and Performance Earnings as Intervening Variables in the Banking Sector Listed on the Indonesia Stock Exchange

The purpose of this study is to empirically prove the effect of macroeconomics, investment decisions, capital, and good corporate governance on firm value with financial risk and earnings performance as intervening variables. The studies sample consisted of 14 go-public banking corporations for the 2016-2020 period. The statistics evaluation approach used is partial least square (PLS). The results showed that macroeconomics and good corporate governance had no significant effect on financial risk, but investment decision and capital had a significant effect on financial risk. Macroeconomics and good corporate governance have no significant effect on earnings performance, but investment decisions and capital have a significant effect on earnings performance. Macroeconomics, investment decisions, and capital has no significant effect on firm value, but good corporate governance has a significant effect on firm value. Macroeconomics, investment decisions, capital, and good corporate governance have no significant effect on firm value through financial risk and earnings performance.