The Effect of Good Corporate Governance on Financial Performance in LQ45 Companies Listed in Indonesian Stock Exchange

Nurkholis Muhammad, Damayanti Damayanti

Abstract


This study is conducted to examine the effect of good corporate governance on financial performance. The variables used in this study are the board of commissioners, the board of directors, institutional ownership and the audit committee as independent variables, while the dependent variable is financial performance proxies with ROA. This study uses 14 consistent samples of LQ45 companies that met the sample criteria during 2014 to 2018. The sampling technique in this research is purposive sampling in order to obtain 70 observations. Because the classical assumption test gets problems in the autocorrelation test, the data are transformed using the cochrane orcutt method, so that the total observations become 69 observations. The data analysis technique utilizes multiple linear regression analysis. The results of this study indicate that the board of commissioners has a positive and significant effect on financial performance, while the board of directors has a significant negative effect on financial performance, and institutional ownership has a significant positive effect on financial performance, while the audit committee has a significant negative effect on financial performance. Based on the determination testing of variable of the board of commissioners, board of directors, institutional ownership and audit committee in the regression model, this study is able to explain the dependent variable of financial performance by 32.9%, while 67.1% is explained by other variables not examined in this study

Keywords


Good Corporate Governance, Financial Performance, Board of Commissioners, Board of Directors, Institutional Ownership and Audit Committee.

Full Text:

PDF

References


Aulia, Hendratno dan Zultilisna, 2018, PengaruhGood Corporate Governance terhadap Return on Asset(Studi pada PerusahaanProperty dan Real Estateyang Terdaftar di Bursa Efek Indonesia Periode 2012-2016). e-Proceeding of Management: Vol.5, No.1 Maret 2018, Page 606 ISSN: 2355-9357

Candradewi dan Sedana, 2016, Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional Dan Dewan Komisaris Independen Terhadap Return On Asset. E-Jurnal Manajemen Unud, Vol. 5, No. 5, 2016: 3163 3190, ISSN: 2302-8912.

Effendi, Muh. Arief, 2016, The Power of Good Corporate Governance, Edisi Kedua, Jakarta: Salemba Empat.

Ekaningtias, 2017, Pengaruh Penerapan Good Corporate Governance terhadap Kinerja Keuangan pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia Periode 2013-2015. JIPI Vol. 1 No. 1, November 2017. e-ISSN: 2598-067.

Eksandy, A. 2018, PengaruhGood Corporate Governanceterhadap Kinerja Keuangan Pada Perbankan Syari ah Indonesia. Jurnal Akuntansi, Vol 5 No. 1, Januari 2018, p-ISSN 2339-2436 e-ISSN 2549-5968.

Erawati dan Wahyuni, 2019, Pengaruh Corporate Governance, Ukuran Perusahaan dan Leverage terhadap Kinerja Keuangan Perusahaan di Bursa Efek Indonesia (Studi Kasus Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia Periode 2013-2017). Jurnal Akuntansi Pajak Dewantara Vol. 1 No. 2 Mei - Agustus 2019.

Ghozali, Imam, 2018, Aplikasi Analisis Multivariete Dengan program IBM SPSS 25, Edisi 9, Badan Penerbit Universitas Diponegoro Semarang.

Keputusan Menteri BUMN No. Kep-117/MBU/2002 Tanggal 31 Juli 2002 Tentang Penerapan Praktik GCG Pada BUMN.

Lubis dan Ovami, 2018, Pengaruh Corporate Governance terhadap Kinerja Keuangan pada Perusahaan yang Terdaftar di Indeks Saham Syariah Indonesia. Jurnal Bisnis Net, Volume: I N0. 2, ISSN: 2621-3982.

Manossoh, Hendrik, 2016, Good Corporate Governance untuk Meningkatkan Kualitas Laporan Keuangan, PT. Norlive Kharisma Indonesia, Bandung.

Masitoh dan Hidayah, 2018, Pengaruh Penerapan Good Corporate Governance terhadap Kinerja Perusahaan (Studi Empirik Pada Perusahaan Perbankan di BEI tahun 2014 2016). Jurnal Tekun. Vol 1. No. 1.

Meidona dan Yanti, 2018, Pengaruh Corporate Governance Dan Kualitas Audit Terhadap Kinerja Keuangan Pada Perusahaan LQ45 Yang Terdaftar Di Bursa Efek Indonesia. Jurnal indovisi. Vol 1. No. 1 2018, Hal. 67 82 ISSN 2615-4234.

Pahlawan, Purnomo dan Murniati. 2018. Analisis Pengaruh PenerapanGood Corporate Governanceterhadap Kinerja Perusahaan(Studi pada Perusahaan Manufakturyang terdaftar di BEI Periode 2014-2016). Jurnal Riset Akuntansi Vol 1, Nomor 1, September 2018.

Pakpahan, Rasyid dan Hutajulu, 2017, PengaruhGood Corporate Governanceterhadap Kinerja Keuangan Studi Kasus pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2015. Fundamental Management Journal Vol 2, No.1 2017 E-ISSN: 2540-9220.

Peraturan Menteri Negara BUMN No. PER-01/MBU/2011 Tanggal 1 Agustus 2011 tentang Penerapan Tata Kelola Perusahaan yang Baik (Penerapan Good Corporate Governance) pada BUMN.

Putri dan Muid, 2018, Pengaruh Penerapan Good Corporate Governance Terhadap Kinerja Perusahaan. Diponegoro Journal of Acconting. Vol 6. No. 3 eISSN: 2337-3806.

Rahmawati, Rikumahu dan Dillak, 2017, Pengaruh Dewan Direksi, Dewan Komisaris, Komite Audit dan Corporate Social Responslinilty Terhadap Kinerja Keuangan Perusahaan Di Bursa Efek Indonesia (Studi Kasus Perusahaan Sub Sektor Pertambangan Yang Terdaftar di Bursa Efek Indonesia Tahun 2013-2015). Jurnal Akuntansi dan FE. UN PGRI Kediri Vol. 2. No.2, September 2017 eISSN: 2541-0180.

Sugiyono, 2017. Metode Penelitian dan Pengembangan, Edisi Ketiga, ALFABETA, Bandung.

Undang-undang No. 40 Tahun 2007 tentang Perseroan Terbatas.

Wilar, Mangantar dan Tulung, 2018, Pengaruh Good Corporate Governance terhadap Kinerja (ROA) Pada Lembaga Pembiayaan Terdaftar di BEI Tahun 2012-2016. Jurnal EMBA Vol.6 No.4 September 2018, Hal. 2698 2707: ISSN 2303-1174




DOI: http://dx.doi.org/10.26623/ebsj.v4i2.2789

Refbacks

  • There are currently no refbacks.


Copyright (c) 2020 Economics and Business Solutions Journal



INDEXING :

Economics and Business Solutions Journal: is an International Scientific Journal, published by Fakultas Ekonomi Universitas Semarang (USM) is licensed under a Creative Commons Attribution 4.0 International License.