PENGARUH CEO STEM DAN FIRM PERFORMANCE TERHADAP FIRM VALUE PADA PERUSAHAAN TEKNOLOGI YANG TERDAFTAR DI BURSA EFEK INDONESIA

This research aims to analyze the influence of CEOs with a formal STEM (Science,
Technology, Engineering, and Mathematics) educational background and firm
performance on firm value in technology companies listed on the Indonesia Stock
Exchange. Using Upper Echelons Theory and Signaling Theory, this research tests
whether a CEO's formal educational background in the STEM field and company
performance can increase company value. The research method used is a
quantitative approach with simple linear regression analysis on 44 technology
companies selected through purposive sampling. CEO STEM is measured using
dummy variables and company performance is measured using Return on Assets
(ROA) and company value is measured using Tobin's Q. The research results show
that CEOs with formal education backgrounds in the STEM field do not have a
significant effect on company value. Likewise, company performance as measured
by ROA also does not have a significant influence on company value. These findings
suggest that in the technology industry, other factors such as innovation, business
strategy, and market expectations play a greater role in determining company value
than the CEO's formal educational background in a STEM field or current financial
performance.