Abstract
The objective of this research are to identify the direct and indirect influences of corporate governance structure such as, audit committee, board of independent commissioner, board of director, institutional ownership and manajerial ownership to the firm’s value and earnings management. This research examine 37 manufacturing companies listed in Jakarta Stock Exchange and issues audited financial statement since 2002-2004. The statistical methods used to test the hypothesis is Structural Equation Model (SEM). The empirical result of this research indicates that board of director, manajerial ownership, institutional ownership and board of commissioner have a positive significant influences to earnings management, whereas audit committee have no influence to earnings management. The following test indicates that board of commissioner and audit committee have significant influence to the firm’s value, whereas board of director, manajerial ownership and institutional ownership have no significant influence to the firm’s value. The control variable, firm’s size, have negative significant influence to earnings management whereas leverage have no significant influence. The last test indicates that earnings management have no influence to the firm’s value, so it can be concluded that earnings management is not an intervening variable.
Keywords: corporate governance, earnings management, firm’s value, board of director, manajerial ownership, institutional ownership, board of commissioner , audit committee, firm’s size, leverage
The objective of this research are to identify the direct and indirect influences of corporate governance structure such as, audit committee, board of independent commissioner, board of director, institutional ownership and manajerial ownership to the firm’s value and earnings management. This research examine 37 manufacturing companies listed in Jakarta Stock Exchange and issues audited financial statement since 2002-2004. The statistical methods used to test the hypothesis is Structural Equation Model (SEM). The empirical result of this research indicates that board of director, manajerial ownership, institutional ownership and board of commissioner have a positive significant influences to earnings management, whereas audit committee have no influence to earnings management. The following test indicates that board of commissioner and audit committee have significant influence to the firm’s value, whereas board of director, manajerial ownership and institutional ownership have no significant influence to the firm’s value. The control variable, firm’s size, have negative significant influence to earnings management whereas leverage have no significant influence. The last test indicates that earnings management have no influence to the firm’s value, so it can be concluded that earnings management is not an intervening variable.
Keywords: corporate governance, earnings management, firm’s value, board of director, manajerial ownership, institutional ownership, board of commissioner , audit committee, firm’s size, leverage
1 komentar:
Topik penelitian ini sangat menarik dan tergolong baru karena biasanya penelitian yang terkait dengan GCG selalu dihubungkan dengan kinerja perusahaan. Kalau boleh saya ingin membaca penelitian ini selengkapnya untuk menambah reviu literatur thesi saya.. Boleh Nggak?
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