FIRM SIZE EFFECT ON THE INDONESIA STOCK EXCHANGE: IS IT STILL RELEVANT?
This study indicates that the concept of firm size effect is still strongly affect firm value and majority proxy variables of corporate finance. Firm size effect does not affect mechanism of agency or ownership concentration. However, mechanism of agency affects firm value. Proxy variables of corporate finance produces mixed results to firm value. Free cash flow is a very strong intervening variable that has an indirect effect from firm size effect to firm value
firm size effect, ownership concentration, FCF, leverage, business diversification, Stock liquidity, firm value. JEL Classification: G30,G32, G34