PENGARUH KARAKTERISTIK PRAKTIK CORPORATE GOVERNANCETERHADAP PREDIKSI FINANCIAL DISTRESS (Studi Kasus pada Perusahaan Subsektor Pertambangan Batubara yang Terdaftar di BEI Periode Tahun 2009 – 2014)

Anna Quraisy Haq(1*), Brady Rikumahu(2), Anisah Firly(3)
(1) 
(2) 
(3) 
(*) Corresponding Author
DOI : 10.36706/jp.v3i1.5550

Abstract

Abstract : The purpose of this research is to acknowledge the effect of characteristic corporate governance practices on the prediction of financial distress on sub sector coal mining company listed in BEI period 2009-2014. This research can be used as information for companies to know how corporate governance practices could affect the occurrence of a state of financial distress. Independent variables used are institutional ownership, managerial ownership, independent board and audit committee and prediction of financial distress using Altman Z-score as dependent variable. This research is a quantitative study using panel data regression. The population in this study is a sub-sector coal mining company listed on BEI period 2009-2014. The sampling technique in this research is purposive sampling method obtaining 6 companies.The results of research shows that institutional ownership, managerial ownership, independent board and audit committee did not significantly affect the prediction of financial distress. Of the four independent variables, only the institutional ownership that partially has significant impact negatively on the prediction of financial distress.

Abstrak : Penelitian ini bertujuan untuk mengetahui pengaruh karakteristik praktik corporate governance terhadap prediksi financial distresspada perusahaan subsektor pertambangan batubara yang telah terdaftar di BEI periode tahun 2009- 2014.Penelitianini dapat dimanfaatkan sebagai informasi bagi perusahaan untuk mengetahui bagaimana praktik corporate governance diperusahaan yang dapat mempengaruhi terjadinya keadaan financial.Penelitian ini menggunakan variabel independen kepemilikan institusional, kepemilikan manajerial, proporsi dewan komisaris independen, dan komite audit serta prediksi financial distress menggunakan Altman Z-score sebagai variabel dependen.Penelitian ini merupakan penelitian kuantitatif dengan analisis regresi data panel.Populasi dalam penelitian ini adalah perusahaan subsektor pertambangan batubara yang terdaftar di BEI periode 2009 - 2014.Teknik pengambilan sampel dengan metode purposive sampling sehingga didapatkan 6 perusahaan sampel.Hasil dari penelitian disimpulkan bahwa kepemilikan institusional, kepemilikan manajerial, proporsi dewan komisaris independen, dan komite audit tidak berpengaruh secara signifikan terhadap prediksi financial distress.Dari keempat variabel independen, hanya kepemilikan institusional yang secara parsial memiliki pengaruh signifikan negatif terhadap prediksi financial distress.

Keywords


tata kelola perusahaan, kesulitan keuangan, Altman Z-score, regresi data panel

References


Bank Indonesia. (2009). Laporan Perekonomian Indonesia 2009. Jakarta: Bank Indonesia.

[Brigham, E., & Ehrhart, M. (2013). Financial Management: Theory & Practice. Mason, Usa: South-Western, Cengage Learning.

Bursa Efek Indonesia. (2014, Juni). Mendorong Emiten Indonesia Menjadi 50 Perusahaan Dengan GCG Terbaik Di Asean. Idx Newsletter, P. 7.

Emery, D., Finnerty, J., & Stowe, J. (2011). Corporate Financial Management. New Jersey: Pearson International Edition.

Fuad, D. S. (2013). Pengaruh Corporate Governance Dan Firm Size Terhadap Perusahaan Yang Mengalami Kesulitan Keuangan (Financial Distress). Diponegoro Journal Of Accounting, 2(3), 1-10.

Hui, H., & Jing - Jing, Z. (2008, September). Relationship Between Corporate Governance And Financial Distress: An Empirical Study Of Distressed Companies In China. International Journal Of Management, 25(4), 654 - 778.

Jensen, M., & Meckling, W. (1976, Oktober). Theory Of The Firm: Managerial Behavior, Agency Costs, And Ownership Structure. Journal Of Financial Economics, 3(4), 305-360.

Paramitha, R. A., & Rahardjo, S. N. (2013). Faktor - faktor yang Mempengaruhi Kualitas Komite Audit. Diponegoro Journal Of Accounting, 2(3), 1-11.

Putri, N. W., & Merkusiwati, N. K. (2014). Pengaruh Mekanisme Corporate Governance, Likuiditas, Leverage, Dan Ukuran Perusahaan Pada Financial Distress. E-Jurnal Akuntansi Universitas Udayana, 7(1), 93-106.

Rezaee, Z. (2009). Corporate Governance And Ethics. United States: John Wiley & Sons.

Solomon, J. (2010). Corporate Governance And Accountability. United Kingdom: John Wiley & Sons.

Wiranata, Y. A., & Nugrahanti, Y. W. (2013, Mei). Pengaruh Struktur Kepemilikan Terhadap Profitabilitas Perusahaan Manufaktur di Indonesia. Jurnal Akuntansi dan Keuangan, 15(1), 15-26.


Article Statistic

Abstract view : 203 times
PDF views : 717 times

The PDF file you selected should load here if your Web browser has a PDF reader plug-in installed (for example, a recent version of Adobe Acrobat Reader).

If you would like more information about how to print, save, and work with PDFs, Highwire Press provides a helpful Frequently Asked Questions about PDFs.

Alternatively, you can download the PDF file directly to your computer, from where it can be opened using a PDF reader. To download the PDF, click the Download link above.

Fullscreen Fullscreen Off

Full Text: PDF

How To Cite This :

Refbacks

  • There are currently no refbacks.