Pengaruh Penerapan Mekanisme Good Corporate Governance terhadap Nilai Perusahaan di Sektor Jasa keuangan di Indonesia

Gayatri, Rukmi, Haryono, M.Com

2008 | Skripsi | S1 Accounting

Penelitian ini dilakukan untuk menguji pengaruh penerapan mekanisme Good Corporate Governance terhadap nilai perusahaan. Mekanisme Good Corporate Governance diwakili oleh variable komisaris independen, komite audit, institutional ownership dan Corporate Social Responsibility (CSR). Sedangkan nilai perusahaan diwakili oleh Price to Book Value (PBV) dan Abnormal Return. Penelitian ini dilakukan pada perusahaan-perusahaan sektor jasa keuangan. Jumlah perusahaan yang diuji sebanyak 60 perusahaan pada tahun 2005. Hasil penelitian menunjukan bahwa institutional ownership dan Corporate Social Responsibility memiliki pengaruh signifikan dengan arah positif terhadap PBV. Sedangkan komisaris independen dan komite audit tidak berpengaruh signifikan terhadap PBV. Pengujian pada model regresi 2 menunjukan bahwa komisaris independen, komite audit, institutional ownership dan Corporate Social Responsibility tidak memiliki pengaruh signifikan terhadap abnormal return. Kata Kunci : Good Corporate Governance, teori keagenan, komisaris independen, komite audit, institutional ownership, CSR, PBV dan Abnormal Return

Investors consider a lot of things before making a decision in buying or selling stocks. One of which is corporate governance mechanism that will affect company's stock return. If company do good corporate governance, company's value will increase that will cause company's stock price to increase. The objective of the research is to examine the effect of good corporate governance mechanism to stock return. The samples of the research are financial sector listed in Jakarta Stock Exchange period 2005. Variables independent in this research are independent director, audit committee, institutional ownership and corporate social responnsibility (CSR). Variables dependent in this research are price to book value (PBV) and abnormal return. The results of the research indicate that simultaneously independent variables affect price to book ratio significantly, but did not affect abnormal return significantly. From t-test, independent director, audit committee, institutional ownership and corporate social responsibility affect price to book ratio significantly, but none of the variables independent affect abnormal return significantly. Keyword:Good Corporate Governance, Independent Director, Audit Committee, Corporate Social Responsibility (CSR), Price to Book Ratio (PBV), Abnormal Return

Kata Kunci : Good Corporate Governance; Nilai Perusahaan; Jasa Keuangan