PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP KINERJA KEUANGAN PERUSAHAAN

RIZQI FEBRIAN UTAMA, Eddy Junarsin, S.E., M.B.A., Ph.D.

2019 | Tesis | Magister Manajemen

Penelitian ini bertujuan untuk menguji pengaruh penerapan good corporate governance (GCG) terhadap kinerja keuangan perusahaan. Variabel good corporate governance pada penelitian ini menggunakan skor dari laporan hasil riset dan pemeringkatan Corporate Governance Perception Index (CGPI) yang dilaksanakan oleh The Indonesian Institute for Corporate Governance (IICG). Variabel kinerja keuangan perusahaan diukur dengan rasio Net Profit Margin (NPM), Return on Assets (ROA), dan Price Earnings Ratio (PER). Penelitian ini juga menggunakan variabel kontrol, yaitu leverage, growth, dan size. Periode penelitian dilakukan dengan rentang waktu lima tahun untuk mengetahui penerapan good corporate governance (GCG) dalam jangka panjang. Metode analisis penelitian ini menggunakan analisis regresi berganda dengan data panel, yaitu Model Pooled OLS, Model Fixed Effect, dan Model Random Effect. Pengujian hipotesis pada penelitian ini menggunakan Uji Statistik T dan Uji Statistik F. Hasil penelitian membuktikan bahwa terdapat pengaruh positif penerapan good corporate governance (GCG) terhadap kinerja keuangan. Hasil penelitian ini juga membuktikan bahwa perusahaan-perusahaan di Indonesia sudah fokus menerapkan good corporate governance (GCG) karena memberikan manfaat terhadap peningkatan kinerja keuangan, meningkatkan kepercayan investor, dan meningkatkan nilai saham.

This study aims to examine the effect of the implementation of good corporate governance (GCG) to the financial performance of the company. The Good corporate governance variables in this study uses scores from the results of research and ratings of the Corporate Governance Perception Index (CGPI) by the Indonesian Institute for Corporate Governance (IICG). The variables financial performance of the company are measured by the ratio of Net Profit Margin (NPM), Return on Assets (ROA), and Price Earnings Ratio (PER). This study also uses control variables, there are leverage, growth, and size. The research period was carried out with a span of five years to determine the implementation of good corporate governance (GCG) in the long term. The method of analysis of this study uses multiple regression analysis with panel data, that is Pooled OLS Model, Fixed Effect Model, and Random Effect Model. Testing the hypothesis in this study uses the Statistical T Test and F Statistical Test.. The results of the study prove that there is a positive influence on the application of good corporate governance (GCG) to financial performance. The results of this study also prove that companies in Indonesia have focused on implementing good corporate governance (GCG) because it provides benefits for improving financial performance, increasing investor trust, and increasing the value of shares.

Kata Kunci : Good Corporate Governance (GCG), Kinerja Keuangan, Corporate Governance Perception Index (CGPI), Net Profit Margin (NPM), Return on Assets (ROA), Price Earnings Ratio (PER), Data Panel.