Laporkan Masalah

e-Corporate governance disclosure dan kinerja perusahaan pada periode bearish :: Studi kasus di Pasar Modal Indonesia

MANNAN, Siti Sofiyah Abdul, Prof. Dr. Marwan Asri, MBA

2009 | Tesis | S2 Manajemen

Banyak hal yang dahulu menjadi kendala dalam pelaksanaan maupun pengukuran tata kelola perusahaan dapat diatasi dengan menggunakan e-corporate governance disclosure. e-Corporate governance disclosure dianggap memiliki sifat yang sama dengan Corporate Governance yang sebenarnya. Dengan mengoptimalkan penggunaan e-corporate governance disclosure, perusahaan tidak hanya menerapkan prinsip transparansi sesuai dengan praktek tata kelola perusahaan yang baik, tetapi juga dapat lebih meningkatkan image dan kepercayaan para stakeholders terhadap kinerja perusahaan, baik dalam kondisi normal maupun periode Bearish. Penelitian ini bertujuan untuk menguji pengaruh e-corporate governance disclosure terhadap return saham pada periode Bearish di pasar modal Indonesia, serta pengaruh e-corporate governance disclosure terhadap nilai dan kinerja perusahaan. Sampel penelitian yang digunakan adalah perusahaan-perusahaan LQ45 dengan kriteria tertentu, sesuai dengan kriteria yang harus dipenuhi dalam pengukuran indeks Internet Based Corporate Governance (IBCG) Rating. Penelitian ini menggunakan alat uji analisis berupa model regresi data panel untuk mengestimasi variabel-variabel dependen yang diuji. Hasil penelitian ini menemukan bahwa e-corporate governance disclosure berpengaruh negatif dan signifikan terhadap return saham pada periode Bearish di pasar modal Indonesia. Sedangkan e-corporate governance disclosure ditemukan berpengaruh positif terhadap nilai dan kinerja perusahaan.

Many things which have been obstacles in the older days concerning the performance as well as the rating of corporate governance can be anticipated by exercising e-corporate governance disclosure. e-Corporate governance disclosure is assumed to have similar characteristics with the ‘former’ Corporate Governance. By optimizing the use of e-corporate governance disclosure, a company is not only carrying out the principle of transparency as a tone with the good corporate governance practices, but it may also facilitate in increasing the image and stakeholders’ confidence about the firm performance, whether in a normal condition or a Bearish period. This research is aimed to investigate the influence of e-corporate governance disclosure towards stock return in Bearish period specifically on Indonesian Capital Market, as well as the effect of e-corporate governance disclosure towards firm value and performance. The research samples used are the companies within LQ45 based on certain criteria according to the Internet Based Corporate Governance (IBCG) Rating Index. This research used panel data regression model as the analysis tool to estimate the dependent variables. The result of this research indicates that e-corporate governance disclosure has a negative and significant influence towards stock return in Bearish period on Indonesian Capital Market. Whereas e-corporate governance disclosure is found to have a positive influence towards firm value and performance

Kata Kunci : e,corporate governance disclosure,Periode bearish,Return saham,Nilai perusahaan,Kinerja perusahaan,Internet based corporate governance (IBCG) rating


    Tidak tersedia file untuk ditampilkan ke publik.