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PENGARUH MEKANISME GOOD CORPPRATE GOVERNANCE DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN YANG TERDAFTAR DI BEI
The purpose of this research is to find out whether the managerial
ownership, institutional ownership, independent commissioners and the financial
performance have an influence to the firm value.
The collection of samples is carried out by using purposive sampling
method, and the samples are 86 companies with the observation periods from2008
to 2012, therefore440 observation data have been obtained. The source of
secondary data is obtained from the Indonesia Stock Exchange and the Indonesia
Stock Exchange website http://www.idx.co.id/. The multiple linear regressionsand
the SPSS program are used as data analysis technique.
Based on the result of the analysis it can be concluded that: (1) managerial
ownership has significant influence to the firm value on the manufacturing
companies which are listed in Indonesia Stock Exchange is not proven. It means
that ownership structure becomes important in the agency theory since the
manager is also the shareholder it will increase the firm value therefore his
dividend as a shareholder will increase as well; (2) The institutional ownership
has significant influence to the firm value on the manufacturing companies which
are listed in Indonesia Stock Exchange is proven. When the institutional
ownership level is getting higher the control level thatis carried out by the external
parties to the company is getting stronger as well, so the agency cost that has
occurred in the company is decreasing and the firm value is increasing; (3) The
board of independent commissioners has significant influence to the firm value on
manufacturing companies which are listed in Indonesia Stock Exchange. When
the number of member of the board of independent commissioners is increasing,
the level of monitoring integrity to the board of directors is getting higher and the
impact on the firm value is getting better; (4) Company performance has
significant influence to the firm value on the manufacturing companies which are
listed in Indonesia Stock Exchange is proven. It indicates that when the ratio value
is getting higher, it will impact on the magnitude of the company’s profit value.
Keywords:Managerial Ownership, Institutional Ownership, the Board of
Independent commissioners, Company’s Performance, and Firm
Value.
1S142666 | A14/666 Alf p c.1 | Perpustakaan Pusat - Lantai 2 | Tersedia namun tidak untuk dipinjamkan - Tandon/Tidak dipinjamkan |
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