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

Anna Quraisy Haq; Brady Rikumahu; Anisah Firli

Authors

Anna Quraisy Haq Universitas Telkom
Brady Rikumahu Universitas Telkom
Anisah Firli Universitas Telkom

Keywords:

corporate governance, financial distress, Altman Z-score, data panel regression

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.

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.