The objective of this thesis is to analyze the impact of financial performance, disclosure of GCG on firm value. I examine the effect of financial performance (ROA and ROE), disclosure of GCG on firm value in the manufacturing companies listed in Indonesia Stock Exchange during the period 2008-2009. This research uses secondary data obtained from the annual report of companies listed in Indonesia Stock Exchange in 2008-2009. The population in this study consists 193 firms, and 34 companies with 68 observations satisfy the criteria of sample selection. Firm value was measured as Tobin's Q. Measurement of GCG is proxied by the percentage of stock ownership by managers, directors, and commisioners divided by the number of outstanding shares.The result indicated that either financial performance (ROA and ROE), jointly have insignificant effect on firm value during 2008-2009. Inside ownership ratio seems to have a negative impact on firm value which implies that agency problem exists between inside and outside shareholders.
