| This research aims to investigate the relationship between good corporate governance (using managerial ownership as a proxy) and ethics disclosure (using ethical commitment index as a proxy) as exogenous variables, as well as financial report quality (using conservatism as a proxy) and firm value (using tobin’s q as a proxy) as endogenous variables in research model. In an analysis of testing hypotheses, the authors used path analysis. The population used in this study are all manufacturing companies sample which listed in Indonesia Stock Exchange from 2011-2015. The research model using 81 sample data after the normality test and disposal of data outliers. Through the hypotheses developed, both exogenous variables assumed to have a significant positive effect of conservatism. However, the results showed that managerial ownership and ethics discolusre have no effect on conservatism. Then, the results also showed that managerial ownership, ethics disclosure, and conservatism shown to negatively affect to firm value. The results are consistent with two hypotheses that are developed (H3 and H5), while the other hypothesis (H1, H2 and H4) was rejected. |