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Abstract
Penelitian ini bertujuan untuk mengetahui pengaruh dari mekanisme corporate governance beserta board diversity terhadap nilai perusahaan yang terdaftar atau listed di dalam Indeks LQ45 Bursa Efek Indonesia. Nilai perusahaan pada penelitian ini diukur dengan menggunakan rasio price to book value (PBV). Penelitian ini menggunakan metode purposive sampling, dengan sampel yang digunakan yakni sebanyak 28 perusahaan yang tidak pernah keluar dari indeks LQ45 dalam periode 2017 – 2021. Adapun teknik analisis data yang digunakan adalah analisis regersi linear berganda. Hasil penelitian menunjukkan bahwa variabel kepemilikan institusional, komisaris independen dan komite audit memiliki pengaruh yang signifikan terhadap nilai perusahaan, sedangkan kepemilikan manajerial, latar belakang pendidikan direksi dan keberagaman gender direksi tidak memiliki pengaruh yang signifikan terhadap nilai perusahaan.
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Copyright (c) 2023 Ichlasul Rakha Alaudin , Abdul Moin
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References
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- Elsharkawy, M., Paterson, A.S. dan Sherif, M. (2018) “Now you see me: Diversity, CEO education, and bank performance in the UK,” Investment Management and Financial Innovations, 15(1), hal. 277–291. Tersedia pada: https://doi.org/10.21511/imfi.15(1).2018.23.
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- Mai, M.U. (2015) “Corporate Governance dan Interdependensi antara Leverage, Profitabilitas, serta Kebijakan Dividen dalam Mencapai Nilai Perusahaan,” Jurnal Keuangan dan Perbankan, 19(2), hal. 213–225.
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- Patelli, L. dan Prencipe, A. (2007) “The Relationship between Voluntary Disclosure and Independent Directors in the Presence of a Dominant Shareholder,” European Accounting Review, 16(1), hal. 5–33. Tersedia pada: https://doi.org/10.1080/09638180701265820.
- Pathan, S. dan Faff, R. (2013) “Does board structure in banks really affect their performance?,” Journal of Banking & Finance, 37(5), hal. 1573–1589. Tersedia pada: https://doi.org/https://doi.org/10.1016/j.jbankfin.2012.12.016.
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- Putri, N.D. dan Yuyetta, E.N.A. (2013) “Pengaruh Struktur Kepemilikan dan Kualitas Audit terhadap Manajemen Laba,” Diponegoro Journal of Accounting, 2(3), hal. 1–13. Tersedia pada: https://ejournal3.undip.ac.id/index.php/accounting/article/view/5962.
- Putri, W.E. (2020) “Pengaruh Board Directors Diversity Terhadap Nilai Perusahaan dalam Perspektif Corporate Governance,” Jurnal Riset Akuntansi dan Keuangan, 8(2), hal. 307–318. Tersedia pada: https://ejournal.upi.edu/index.php/JRAK/article/view/21825.
- Riyanti dan Munawaroh, A. (2021) “Kepemilikan Manajerial, Kepemilikan Institusional, Kebijakan Dividen, Ukuran Perusahaan, dan Pengaruhnya terhadap Nilai Perusahaan,” Jurnal Muhammadiyah Manajemen Bisnis, 2(1), hal. 157–166. Tersedia pada: https://doi.org/10.24853/jmmb.2.1.27-36.
- Tarjo (2008) “Pengaruh Konsentrasi Kepemilikan Institusional dan Leverage terhadap Manajemen Laba, Nilai Pemegang Saham serta Cost of Equity Capital,” in Simposium Nasional Akuntansi XI. Pontianak: Universitas Tanjungpura.
References
Alshatti, A.S. (2015) “The Effect of the Liquidity Management on Profitability in the Jordanian Commercial Banks,” International Journal of Business and Management, 10(1), hal. 62–71. Tersedia pada: https://doi.org/10.5539/ijbm.v10n1p62.
Astria, T. (2011) Analisis Pengaruh Audit Tenure, Struktur Corporate Governance dan Ukuran KAP terhadap Integritas Laporan Keuangan. Universitas Diponegoro. Tersedia pada: http://eprints.undip.ac.id/29366/.
Asward, I. dan Lina (2015) “Pengaruh Mekanisme Corporate Governance terhadap Manajemen Laba dengan Pendekatan Conditional Revenue Model,” Jurnal Manajemen Teknologi, 14(1), hal. 15–34. Tersedia pada: https://journal.sbm.itb.ac.id/index.php/mantek/article/view/1275.
Brigham, E.F. dan Houston, J.F. (2019) Fundamentals of Financial Management. 15 ed. Boston: Cengage Learning, Inc.
Buallay, A., Hamdan, A. dan Zureigat, Q. (2017) “Corporate Governance and Firm Performance: Evidence from Saudi Arabia,” Australasian Accounting, Business and Finance Journal, 11(1), hal. 78–98. Tersedia pada: https://doi.org/10.14453/aabfj.v11i1.6.
Butar, S.B. (2020) “The effects of Corporate Governance, Audit Quality, and Conservatism on Loan Collateral Requirements,” Jurnal Akuntansi dan Keuangan, 22(1), hal. 28–39. Tersedia pada: https://doi.org/10.9744/jak.22.1.28-39.
Carter, D.A. et al. (2010) “The Gender and Ethnic Diversity of US Boards and Board Committees and Firm Financial Performance,” Corporate Governance: An International Review, 18(5), hal. 396–414. Tersedia pada: https://doi.org/https://doi.org/10.1111/j.1467-8683.2010.00809.x.
Cohen, L.J. et al. (2014) “Bank Earnings Management and Tail Risk during the Financial Crisis,” Journal of Money, Credit and Banking, 46(1), hal. 171–197. Tersedia pada: https://doi.org/https://doi.org/10.1111/jmcb.12101.
Dewan Komisioner Otoritas Jasa Keuangan (2014) Peraturan Otoritas Jasa Keuangan Nomor 2/POJK.05/2014 Tentang Tata Kelola Perusahaan yang Baik Bagi Perusahaan Perasuransian. Indonesia: Otoritas Jasa Keuangan. Tersedia pada: https://www.ojk.go.id/id/regulasi/Documents/Pages/POJK-tentang-Tata-Kelola-Perusahaan-yang-Baik-bagi-Perusahaan-Perasuransian/pojk 2-2014.pdf.
Dwaikat, N., Qubbaj, I.S. dan Queiri, A. (2021) “Gender diversity on the board of directors and its impact on the Palestinian financial performance of the firm,” Cogent Economics & Finance. Diedit oleh Y. Seetharam, 9(1), hal. 1948659. Tersedia pada: https://doi.org/10.1080/23322039.2021.1948659.
Elsharkawy, M., Paterson, A.S. dan Sherif, M. (2018) “Now you see me: Diversity, CEO education, and bank performance in the UK,” Investment Management and Financial Innovations, 15(1), hal. 277–291. Tersedia pada: https://doi.org/10.21511/imfi.15(1).2018.23.
Gottesman, A.A. dan Morey, M.R. (2010) “CEO Educational Background and Firm Financial Performance,” Journal of Applied Finance, 2, hal. 70–82. Tersedia pada: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2693079.
Hambrick, D.C. dan Mason, P.A. (1984) “Upper Echelons: The Organization as a Reflection of Its Top Managers,” The Academy of Management Review, 9(2), hal. 193–206. Tersedia pada: https://doi.org/10.2307/258434.
Handayani, B.D. (2017) “Mekanisme Corporate Governance, Enterprise Risk Management, Dan Nilai Perusahaan Perbankan,” Jurnal Keuangan dan Perbankan, 21(1), hal. 70–81. Tersedia pada: https://doi.org/10.26905/jkdp.v21i1.1228.
Jensen, M.C. dan Meckling, W.H. (1976) “Theory of the firm: Managerial behavior, agency costs and ownership structure,” Journal of Financial Economics, 3(4), hal. 305–360. Tersedia pada: https://doi.org/https://doi.org/10.1016/0304-405X(76)90026-X.
Kılıç, M. dan Kuzey, C. (2016) “The effect of board gender diversity on firm performance: evidence from Turkey,” Gender in Management, 31(7), hal. 434–455. Tersedia pada: https://doi.org/10.1108/GM-10-2015-0088.
Mai, M.U. (2015) “Corporate Governance dan Interdependensi antara Leverage, Profitabilitas, serta Kebijakan Dividen dalam Mencapai Nilai Perusahaan,” Jurnal Keuangan dan Perbankan, 19(2), hal. 213–225.
Marinova, J., Plantenga, J. dan Remery, C. (2016) “Gender diversity and firm performance: evidence from Dutch and Danish boardrooms,” The International Journal of Human Resource Management, 27(15), hal. 1777–1790. Tersedia pada: https://doi.org/10.1080/09585192.2015.1079229.
Nelson, S.P. dan Devi, S. (2013) “Audit committee experts and earnings quality,” Corporate Governance, 13(4), hal. 335–351. Tersedia pada: https://doi.org/10.1108/CG-02-2011-0009.
Patelli, L. dan Prencipe, A. (2007) “The Relationship between Voluntary Disclosure and Independent Directors in the Presence of a Dominant Shareholder,” European Accounting Review, 16(1), hal. 5–33. Tersedia pada: https://doi.org/10.1080/09638180701265820.
Pathan, S. dan Faff, R. (2013) “Does board structure in banks really affect their performance?,” Journal of Banking & Finance, 37(5), hal. 1573–1589. Tersedia pada: https://doi.org/https://doi.org/10.1016/j.jbankfin.2012.12.016.
Perdana, R.S. dan Raharja (2014) “Analisis Pengaruh Corporate Governance terhadap Nilai Perusahaan,” Diponegoro Journal of Accounting, 3(3), hal. 1–13. Tersedia pada: https://media.neliti.com/media/publications/251998-analisis-pengaruh-corporate-governance-t-0e12c660.pdf.
Putri, N.D. dan Yuyetta, E.N.A. (2013) “Pengaruh Struktur Kepemilikan dan Kualitas Audit terhadap Manajemen Laba,” Diponegoro Journal of Accounting, 2(3), hal. 1–13. Tersedia pada: https://ejournal3.undip.ac.id/index.php/accounting/article/view/5962.
Putri, W.E. (2020) “Pengaruh Board Directors Diversity Terhadap Nilai Perusahaan dalam Perspektif Corporate Governance,” Jurnal Riset Akuntansi dan Keuangan, 8(2), hal. 307–318. Tersedia pada: https://ejournal.upi.edu/index.php/JRAK/article/view/21825.
Riyanti dan Munawaroh, A. (2021) “Kepemilikan Manajerial, Kepemilikan Institusional, Kebijakan Dividen, Ukuran Perusahaan, dan Pengaruhnya terhadap Nilai Perusahaan,” Jurnal Muhammadiyah Manajemen Bisnis, 2(1), hal. 157–166. Tersedia pada: https://doi.org/10.24853/jmmb.2.1.27-36.
Tarjo (2008) “Pengaruh Konsentrasi Kepemilikan Institusional dan Leverage terhadap Manajemen Laba, Nilai Pemegang Saham serta Cost of Equity Capital,” in Simposium Nasional Akuntansi XI. Pontianak: Universitas Tanjungpura.