International Journal of Research and Review DOI: https://doi.org/10.52403/ijrr.20210875 Vol.8; Issue: 8; August 2021 Website: www.ijrrjournal.com Research Paper E-ISSN: 2349-9788; P-ISSN: 2454-2237 International Journal of Research and Review (ijrrjournal.com) 559 Vol.8; Issue: 8; August 2021 The Effect of Total Asset Turnover and Profitability on Firm value with Good Corporate Governance as Moderating Variable in Food and Beverage Subsector Manufacturing Companies Listed on the IDX 2010-2019 Isnartik Bama 1 , Azhar Maksum 1 , Abdhy Aulia Adnans 1 1 Department of Accounting, Faculty of Economics and Business at Universitas Sumatera Utara, Indonesia Corresponding Author: Isnartik Bama ABSTRACT The success rate of the company is often associated with stock prices. High stock prices will impact increasing the value of the company and increasing market confidence. This study aims to analyze the effect of total asset turnover and profitability on firm value in food and beverage companies listed on the Indonesia Stock Exchange for the 2010-2019 period. This study will also examine the good corporate governance variable used as a moderating variable in the research model. The population is food and beverage companies listed on the Indonesia Stock Exchange for 2010 – 2019. From this population, 26 selected companies became the research sample, as many as 14 companies. Moreover, the numbers of observations used were 140 observations. The data type used is secondary data and the data analysis technique used in Panel Data Regression Analysis and Interaction Moderating Test with the help of EViews10 software. The results of this study indicate that the alpha 5% profitability has a positive and significant influence on firm value. Meanwhile, total asset turnover has a positive but not significant effect on firm value. This study also indicates that good corporate governance can strengthen the influence of profitability on firm value. However, good corporate governance cannot moderate the effect of total asset turnover on firm value. Keywords: total asset turnover, profitability, firm value and good corporate governance INTRODUCTION In the current digital 4.0 era, business competition is getting more challenging, so managers must develop strategies to compete with other companies and maintain their existence. The purpose of establishing the company, among others, is to maximize the profits earned by the company. Second, provide welfare for company members or shareholders. Moreover, the last is optimizing the company's value, which is reflected in the increase in its share price (Harjito & Martono, 2005). The three goals of the company have a harmonious meaning, namely wanting to maintain the company's growth. Only the main emphasis that a company wants to achieve is different. The increase in the company's growth can be seen from the company's value, which is reflected in its share price so that the increase in the share price has a good impact on the image of the company's value. Meanwhile, the increase in stock prices is influenced by the company's performance in operating. The company's value is an investor's perception of the company's level of success, which is often associated with stock prices. High stock prices will increase