Detail Karya Ilmiah
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PENGARUH KUALITAS CORPORATE GOVERNANCE, KEPEMILIKAN INSTITUSIONAL DAN STRUKTUR MODAL TERHADAP KINERJA KEUANGAN PERUSAHAAN (Studi Pada Perusahaan Peserta CGPI (Corporate Governance Perception Index)Penulis : Izzati Choirini MardhotillahDosen Pembimbing I : Dr. Chairul Anam, Drs. Ec., M.KesDosen Pembimbing II :Dr. Mohammad Arief, S.E., M.M.Abstraksi
ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh kualitas corporate governance, kepemilikan institusional, struktur modal terhadap kinerja keuangan perusahaan peserta CGPI (Corporate Governance Perception Index) dengan variabel kontrol ukuran perusahaan dan growth opportunity. Kinerja keuangan diproksikan dengan ROA sebagai pengukur kinerja keuangan perusahaan berdasarkan operasional perusahaan. Kualitas corporate governance diproksikan oleh skor CGPI (Corporate Governance Perception Index) yang dikembangkan oleh IICG. Kepemilikan institusi diukur dengan menggunakan rasio antara jumlah saham yang dimiliki oleh institusi. Struktur modal diproksikan dengan DER sebagai pengukur struktur modal perusahaan. Sedangkan variabel kontrolnya adalah ukuran perusahaan dan growth opportunity. Sampel dalam penelitian ini adalah perusahaan yang menjadi peserta CGPI dan terdaftar di BEI (Bursa Efek Indonesia) dalam periode 2011-2014. Jumlah sampel yang digunakan sebanyak 10 perusahaan yang diambil melalui purposive sampling. Metode analisis dari penelitian ini menggunakan regresi linier berganda. Hasil penelitian ini menunjukkan bahwa kualitas corporate governance, kepemilikan institusional, struktur modal, dan growth tidak signifikan terhadap kinerja keuangan perusahaan, sedangkan ukuran perusahaan berpengaruh signifikan terhadap Return on Asset. Kata Kunci : Kualitas corporate governance, kepemilikan institusional, struktur modal, ukuran perusahaan, growth opportunity, Return on Asset
AbstractionABSTRACT This study aims to determine the effect of the quality of Corporate governance, institutional ownership, capital structure to the company's financial performance of companies included in the ranking CGPI (Corporate Governance Perception Index) with control variables firm size and growth opportunity. Financial performance is proxied by the ROA as a measure of financial performance of companies based on the company's operations. The quality of corporate governance is proxied by the score CGPI (Corporate Governance Perception Index) developed by IICG. Institutional ownership is measured by using a ratio between the number of shares held by institutions. The capital structure is proxied by DER as a measure of the company's capital structure. While the control variables are firm size and growth opportunity. The sample in this study is a company that is a participant CGPI and listed in Stock Indonesian Stock Exchange (IDX) in 2011-2014. The number of sample used were 10 companies listed were taken by purposive sampling. The method of analysis of this research used multiple liniear regression. The result of this research showed that the quality of corporate governance, institutional ownership, capital structure, and the growth opportunity of the company not significant to the company's financial performance; meanwhile size significant influence to Return on Assets. Keywords: Quality of corporate governance, institutional ownership, capital structure, company size, growth opportunity, Return on Assets