Caba-Pérez, 2020). Companies listed on national and international stock exchanges will

use the internet to disseminate information, both financial and non-financial information

for companies globally (Saraite-Sariene et al., 2020). Currently the internet is becoming

an important thing in disseminating company information, and it will be more significant

in the future (Teng et al., 2019). The Internet creates a new form of reporting for

companies listed on the stock exchange. The purpose of reporting via the internet is so

that companies listed on the stock exchange can communicate continuously with

stakeholders and further attract potential investors to invest their capital in the company

(Qiu, Jiang, Liu, Chen, & Yuan, 2021).

The company's annual financial report is an example of a communication tool

easily. In addition, companies are able to disseminate corporate financial reports with

global or cross-country reach, without any restrictions. Investors and other external

parties can also easily access information on the company's financial statements. One way

for companies to report company performance information, both financial and non-

financial information, is through web-based corporate reporting.

This very fast development in information and communication technology has

encouraged companies in the world to submit and disseminate financial and non-financial

corporate information globally in the form of web-based corporate reporting. This is

indicated by the increasing data on internet users in the world based on data obtained

from Internet World Stats in 2020. Based on Internet World Stats in 2020, Asia was

information or retrieve information globally.

Data on internet users in Indonesia is also supported by survey data conducted by

the Association of Internet Service Providers in Indonesia (APJII) in 2018, which showed

that the largest internet users in 2018 in Indonesia were those who worked as

entrepreneurs, with a proportion of 74 ,9%. This can be evidence that in Indonesia, many

companies use internet technology to convey and disseminate their company's financial

and non-financial information to stakeholders, especially to attract investors.

Companies listed on the stock exchange use the internet to display or show

potential investors that the company's management has a good performance (Devi,

Warasniasih, Masdiantini, & Musmini, 2020). The company discloses financial and non-

disclosure of information that can be accessed in real-time and up-to-date, the company's

management believes that this will increase the value of their company (Dubov &

Shoptawb, 2020). Potential investors will trust the company that the company

disseminates reliable and relevant information, and will invest their capital through the

purchase of company shares (Naveed, Ali, Iqbal, & Sohail, 2020). The more information

in web-based corporate reporting, the value of the company will increase. According to

the Financial Services Authorization Regulation Number 29/POJK.04/2016, the annual

report which includes financial and non-financial information must be posted on the

website of the issuer or public company on the same date as the submission of the annual

influence on increasing company value.

hypotheses can be formulated in this study, namely as follows:

investment in the tertiary sector rather than in the primary and secondary sectors. This is

indicated by a significant increase in investment in the tertiary sector, especially financial

(Nasir, Huynh, & Tram, 2019). The year 2020 was chosen because it describes the

relatively new conditions in Indonesia (Kasdi & Saifudin, 2020). By using a relatively

new sample, it is hoped that the research results will be more relevant to understanding

the actual conditions in Indonesia.

name, contact, and website address (if available) of companies listed on the IDX. The

IDX Fact Book is used primarily to determine whether the company has a website or not,

independent variables (Tokan & Imakulata, 2019). The dependent variable in this study is

the firm value variable using the measurement of earnings per share (EPS). Based on

classical assumptions and met the fit of goodness requirements. The equation model in

this study is as follows:

(2010). The argument that can support this is in accordance with signal theory that

disclosure of information by companies is a signal to the capital market, to reduce

asymmetric information, which often occurs between managers and other individuals, to

optimize financial costs, and to increase firm value (Riro and Waweru 2013). Voluntary

disclosure of the company's operational activities can reduce the information asymmetry

that usually occurs between company management and investors regarding the company's

financial condition and the impact of the company's business operations on the

environment around the company. Web-based corporate reporting which is a voluntary

disclosure should provide more information value to investors and have an impact on the

value of the company, especially the company's stock price. The information disclosed on

on firm value. From the results of research that has been done, it can be concluded that

the level of web-based corporate reporting, especially the level of stock information

disclosure, has a positive effect on firm value because web-based corporate reporting,

have an impact on firm value, especially the price. company stock. The information

disclosed on the company's website can not only reduce information asymmetry, but also

reduce delays in accessing information.

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