Pengaruh Tata Kelola terhadap Kinerja dan Status Operasional Perusahaan Terdaftar di Bursa Efek Indonesia Sebelum dan Selama Pandemi Covid-19

TIARA, Aprilia Beta Suandi, Dr., S.E., M.Ec.,

2023 | Tesis | MAGISTER AKUNTANSI

Tujuan - Penelitian ini memiliki tiga tujuan. Pertama, menguji pengaruh pandemi Covid-19 terhadap tata kelola dan kinerja perusahaan. Kedua, menguji pengaruh tata kelola perusahaan terhadap kinerja perusahaan yang di proksikan melalui Return on Assets (ROA) dan Return on Equity (ROE). Ketiga, menguji pengaruh tata kelola terhadap pengukuran kinerja terbaru yakni Company Operational Status (OCS). Metode Penelitian - Metode penelitian yang digunakan ialah pendekatan kuantitatif. Pertama dilakukan paired T-Test untuk melihat pengaruh pandemi terhadap tata kelola dan kinerja perusahaan. Kedua dilakukan multiple linear regression untuk menguji pengaruh tata kelola terhadap ROA, ROE, dan OCS. Temuan - Hasil penelitian pada perusahaan non keuangan untuk tahun 2019 dan 2020 menunjukan pandemi Covid-19 terbukti membuat peningkatan signifikan terhadap semua semua faktor tata kelola perusahaan kecuali gender diversivity (GD). Pandemi juga terbukti menyebabkan penurunan signifikan ROA dan ROE. Selanjutnya, variabel tata kelola berupa jumlah anggota dewan komisaris (BS), frekuensi rapat dewan komisaris (BM), dan jumlah anggota komite audit (ACS) berpengaruh positif signifikan terhadap ROA dan ROE, rapat komite audit (ACM) berpengaruh negatif terhadap ROA dan ROE, sedangkan variabel tata kelola lainnya tidak memiliki pengaruh. Terakhir, penelitian ini menemukan tidak ada satu pun variabel tata kelola yang berpengaruh terhadap status operasional perusahaan (OCS) selama pandemi, namun terbukti dipengaruhi oleh variabel kontrol berupa likuiditas, ukuran, dan sektor perusahaan. Originalitas - Penelitian ini memberikan kontribusi tentang pengaruh tata kelola terhadap kinerja perusahaan yang belum banyak diteliti khususnya di Indonesia. Penelitian ini juga memperkenalkan pengukuran kinerja terbaru di masa pandemi Covid-19 berupa status operasional perusahaan yang dinilai lebih relevan.

Objectives - This study has three objectives. First, examining the effect of the Covid-19 pandemic on corporate governance and performance. Second, examining the effect of corporate governance on company performance which is proxied through Return on Assets (ROA) and Return on Equity (ROE). Third, examining the effect of governance on the latest performance measurement, Operational Company Status (OCS). Research Methods - The research method used was a quantitative approach. First, a paired T-Test was conducted to see the effect of the pandemic on corporate governance and performance. Second, multiple linear regression was performed to examine the effect of governance on ROA, ROE, and OCS. Findings - The results of research on non-financial companies for 2019 and 2020 showed that the Covid-19 pandemic had proven to have made a significant increase in all factors of corporate governance except gender diversity (GD). The pandemic had caused significant reductions in ROA and ROE. Furthermore, governance variables in the form of the number of commissioners members (BS), frequency of commissioners meetings (BM) , and number of audit committee members (ACS) had a significant positive effect on ROA and ROE, audit committee meetings (ACM) had a negative effect on ROA and ROE, while other governance variables had no effect. Finally, this study found that none of the governance variables had an effect on the company's operational status (OCS) during the pandemic, but it was proven to be influenced by control variables in the form of liquidity, company size, and sector. Originality - This research contributes to the influence of governance on company performance which has not been widely studied, especially in Indonesia. This research also introduces the latest performance measurement during the Covid-19 pandemic in the form of a company's operational status which is considered more relevant.

Kata Kunci : Pandemi COVID-19, Kinerja Perusahaan, Tata Kelola, Status Operasional Perusahaan