EFISIENSI INVESTASI, TATA KELOLA, DAN NILAI PERUSAHAAN: STUDI PADA SEKTOR MANUFAKTUR

The research analyzes the effect of investment efficiency, independent board of commissioners, and audit committees on the firm value of manufacturing firms listed on the Indonesia Stock Exchange in 2020–2022. This research uses a purposive sampling method, choosing 23 manufacturing companies that published complete financial statements annually. We use Tobin's Q to measure firm value, ROA, and sales growth residuals to capture investment efficiency. In contrast, independent commissioners and audit committees are assessed based on the proportions and frequency of meetings. The results show that investment efficiency and independence commissioners positively affect firm value. The audit committee has a significant effect. These findings add to the corporate governance literature. They can facilitate investors during their decision-making by providing firm-level insights.