Pengaruh Mekanisme Good Corporate Governance terhadap Nilai Perusahaan

Abstract

Abstract­­. Good Corporate Governance will directly affect the value of the company. Firm value is very important because it reflects investors' perceptions of the level of success in a company which is often associated with stock prices. In fact, there are still many companies that experience weak company value due to poor implementation of Good Corporate Governance in the company. This study aims to determine how the mechanism of Good Corporate Governance and Company Value in banking sector companies listed on the Indonesia Stock Exchange in 2017-2019 and to determine the effect of the Good Corporate Governance mechanism (institutional ownership, managerial ownership, proportion of independent commissioners and audit committees) on firm value. Based on the population determined to determine the sample to be used in this study, the researcher used a purposive sampling technique with a large number of research samples, namely 37 companies. The data analysis technique used multiple linear regression using SPSS for Windows Realease 20.0. Good Corporate Governance in this researcher is measured by institutional ownership, managerial ownership, the proportion of independent commissioners and audit committees. The value of the company is proxied by the price book value. The results showed that the results of the F test of institutional ownership, managerial ownership, the proportion of independent commissioners and audit committees had a significant effect on firm value. Based on the t-test, institutional ownership has a significant effect on firm value, while managerial ownership, the proportion of independent commissioners and audit committees have no significant effect on firm value.

Keywords: institutional ownership, managerial ownership, proportion of independent commissioners, audit committee, firm value.

Abstrak. Good Corporate Governance yang baik akan secara langsung mempengaruhi nilai perusahaan. Nilai perusahaan sangat penting karena mencerminkan persepsi investor terhadap tingkat keberhasilan dalam suatu perusahaan yang sering dikaitkan dengan harga saham. Pada kenyataannya masih banyak perusahaan yang mengalami lemahnya nilai perusahaan yang disebabkan buruknya penerapan Good Corporate Governance dalam perusahaan tersebut. Penelitian ini bertujuan untuk mengetahui bagaimana mekanisme Good Corporate Governance dan Nilai Perusahaan pada perusahaan sektor perbankan yang terdaftar di BEI tahun 2017-2019 serta mengetahui pengaruh mekanisme Good Corporate Governance (kepemilikan institusional, kepemilikan manajerial, proporsi dewan komisaris independen dan komite audit) terhadap nilai perusahaan. Berdasarkan populasi yang ditentukan untuk menentukan sampel yang akan digunakan dalam penelitian ini yaitu peneliti menggunakan teknik purposive sampling dengan banyaknya sampel penelitian yaitu 37 perusahaan. Teknik analisis data menggunakan regresi linier berganda dengan mengguakan SPSS for Windows Realease 20,0. Good Corporate Governance pada peneliti ini di ukur dengan kepemilikan institusional, kepemilikan manajerial, proporsi dewan komisaris independen dan komite audit. Nilai perusahaan di proksikan dengan price book value. Hasil penelitian menunjukan bahwa hasil uji F kepemilikan institusional, kepemilikan manajerial, proporsi dewan komisaris independen dan komite audit berpengaruh signifikan terhadap nilai perusahaan. Berdasarkan uji t kepemilikan institusional berpengaruh signifikan terhadap nilai perusahaan, sedangkan kepemilikan manajerial, proporsi dewan komisaris independen dan komite audit tidak berpengaruh signifikan terhadap nilai perusahaan.

Kata kunci: kepemilikan institusional, kepemilikan manajerial, proporsi dewan komisaris independen, komite audit, nilai perusahaan.