PENGARUH STRUKTUR KEPEMILIKAN DAN GOOD CORPORATE GOVERNANCE TERHADAP AGENCY COST
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Institusion
Universitas Atma Jaya Yogyakarta
Author
Prabakurniati, Ardhiana Raditya
Subject
Manajemen Keuangan
Datestamp
2015-10-01 11:16:11
Abstract :
The research aims to find out the influence of ownership structure and good corporate governance toward agency cost. This research is basically different form the previous on which were done by Ang et al, (1999), Singh et al. (2003), Faisal (2005), in its measurement of good corporate governance (GCG) variables. The measurement of GCG in recent research was adjusted to the business condition in Indonesia (with the measurement developed by Indonesia Institute Corporate Governance). The result shows that, for regression model which used asset turnover as dependent variable, only good corporate governance variable and the variable of management board size are statistically influence that asset turnover, while for control variable only leverage variable which is statistically significant to influence the asset turnover. These outcome point out that good corporate governance and boar of director will function to improve the efficiency of asset turnover. The result of analysis of regression model with operation expenses as dependent variable, shows that ownership structure variable, good corporate governance, is statistically insignificant to influence the operation expenses. In the control variable, only leverage variable which is statistically significant toward the operation expenses. The result shows that ownership structure and good corporate governance is not yet able to minimize the managerial discretion.
The research aims to find out the influence of ownership structure and good corporate governance toward agency cost. This research is basically different form the previous on which were done by Ang et al, (1999), Singh et al. (2003), Faisal (2005), in its measurement of good corporate governance (GCG) variables. The measurement of GCG in recent research was adjusted to the business condition in Indonesia (with the measurement developed by Indonesia Institute Corporate Governance). The result shows that, for regression model which used asset turnover as dependent variable, only good corporate governance variable and the variable of management board size are statistically influence that asset turnover, while for control variable only leverage variable which is statistically significant to influence the asset turnover. These outcome point out that good corporate governance and boar of director will function to improve the efficiency of asset turnover. The result of analysis of regression model with operation expenses as dependent variable, shows that ownership structure variable, good corporate governance, is statistically insignificant to influence the operation expenses. In the control variable, only leverage variable which is statistically significant toward the operation expenses. The result shows that ownership structure and good corporate governance is not yet able to minimize the managerial discretion.
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