PENGARUH CORPORATE GOVERNANCE TERHADAP FIRM’S DEBT PADA PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI PERIODE 2013-2018

  • Francisca Program Finance & Investment, Program Studi Manajemen Fakultas Bisnis dan Ekonomi, Universitas Kristen Petra Jl. Siwalankerto 121-131, Surabaya
  • Mariana Ing Malelak Program Finance & Investment, Program Studi Manajemen Fakultas Bisnis dan Ekonomi, Universitas Kristen Petra Jl. Siwalankerto 121-131, Surabaya
Keywords: Board composition, board size, corporate governance, firm’s debt, firm size, profitability, teori keagenan.

Abstract

Era globalisasi menjadikan perusahaan menjadi bersaing dan menentukan strategi bisnis yang sesuai dengan kondisi perusahaan. Kemampuan perusahaan dalam menentukan kinerjanya akan meningkatkan daya saing perusahaan. Penelitian ini bertujuan untuk meneliti pengaruh corporate governance terhadap firm’s debt pada perusaha­an sektor industri barang konsumsi periode 2013-2018. Sampel yang digunakan adalah 31 perusahaan sektor industri barang konsumsi yang tercatat selama periode 2013-2018. Metode analisa data dilakukan dengan menggunakan regresi data panel dengan fixed effect model dan random effect model. Variabel kontrol yang digunakan pada penelitian ini terdiri dari profitability dan firm size. Hasil penelitian in menunjukkan bahwa board size dan board composition berpengaruh signifikan terhadap short term debt, board size tidak berpengaruh signifikan terhadap long term debt namun board composition berpengaruh signifikan terhadap long term debt, serta board size dan board composition tidak berpengaruh signifikan terhadap total debt.

Downloads

Download data is not yet available.

References

Abor, J. (2007). Corporate governance and financing decisions of Ghanaian listed firms. Corporate Gover-nance, 7 (1), 83-92.
Adams, R. B., Hermalin, B. E., & Weisbach, M. S. (2010). The role of boards of directors in corporate gover¬nance: A Conceptual Framework and Survey. Journal of Economic Literature 2010, 48 (1), 58-107.
Baysinger, B. D., & Butler, H. N. (1985). Corporate governance and the board of directors: Performance effects of changes in board composition. Journal of Law, Economics, & Organization, 1 (1), 101-124.
Bulan, F., & Yuyetta, E. N. (2014). Pengaruh corporate governance terhadap capital structure. Diponegoro Journal of Accounting, 3 (11), 1-12.
Clarke, T. and Gholamshahi, S. (2016). Corporate Governance and Inequality: The Impact of Financialization and Shareholder Value. Finance and Economy for Society: Integrating Sustainability (Critical Studies on Corporate Responsibility, Governance and Sustainability, 11, Emerald Group Publishing Limited, pp. 27-55
Gujarati, D. N. (2004). Basic econometrics: Fourth Edition. New York: Mc. Graw Hill Companies.
Jackling, B., & Johl, S. (2009). Board structure and firm performance: Evidence from India's top companies. Corporate Governance: An International Review, 17, 492-505.
KNKG. (2006). Pedoman umum good corporate governance Indonesia. Retrieved from ecgi.ppglobal: https://ecgi.global/sites/ default/files//codes/documents/indonesia_cg_2006_id.pdf
Kurniati, S. (2019). Stock returns and financial performance as mediation variables in the influence of good corporate governance on corporate value. Corporate Governance, 19 (6), 1289-1309
Kusi, B.A., Gyeke-Dako, A., Agbloyor, E.K. and Darku, A.B. (2018). Does corporate governance structures promote shareholders or stakeholders value maximization? Evidence from African banks. Corporate Governance, 18(2), 270-288
Malelak, M. I. (2017). Manajemen Keuangan Lanjutan. Surabaya: Universitas Kristen Petra.
Munawir, S. (2004). Analisis Laporan Keuangan (4 ed.). Yogyakarta: Liberty.
Ogier, Rugman, J., & Spicer, L. (2013). The real cost of capital. Great Britain: Pearson.
Robert, J., McNulty, T., & Stiles, P. (2005). Beyond Agency Conceptions of the Work of the Non-Executive Director: Creating Accountability in the Boardroom. British Journal of Management, 16, 5-26.
Sheikh, N. A., & Wang, Z. (2012). Effects of corporate governance on capital structure: empirical evidence from Pakistan. Corporate Governance: The international journal of business in society, 12 (5), 629-641.
Wen, Y., Rwegasira, K., & Bilderbeek, J. (2002). Corporate governance and capital structure decisions of Chinese listed firms. Corporate Governance An International Review, 10 (2), 75-83.
Published
2020-09-14
How to Cite
Francisca, & Malelak, M. I. (2020). PENGARUH CORPORATE GOVERNANCE TERHADAP FIRM’S DEBT PADA PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI PERIODE 2013-2018. International Journal of Financial and Investment Studies (IJFIS), 1(1), 30-41. https://doi.org/10.9744/ijfis.1.1.30-41
Section
Articles