Pengaruh Tata Kelola Perusahaan terhadap Struktur Modal pada Perusahaan yang Terdaftar di BEI tahun 2014 hingga 2018

Christien, Intan (2020) Pengaruh Tata Kelola Perusahaan terhadap Struktur Modal pada Perusahaan yang Terdaftar di BEI tahun 2014 hingga 2018. Undergraduate thesis, Universitas Internasional Batam.

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Abstract

Penelitian ini bertujuan untuk menganalisa pengaruh tata kelola perusahaan terhadap struktur modal. Dalam mengukur tata kelola perusahaan, peneliti menggunakan variabel konsentrasi kepemilikan, komisaris independen, dan ukuran dewan komisaris sebagai tolak ukur. Peneliti juga menggunakan variabel ukuran perusahaan, tangibilitas aset, profitabilitas, non debt tax shield, growth opportunities, dan volatilitas laba sebagai variabel kontrol. Objek dalam penelitian ini yaitu laporan keuangan perusahaan yang telah diaudit dan terdaftar di Bursa Efek Indonesia pada periode 2014 hingga 2018. Metode yang digunakan yaitu purposive sampling, yaitu dimana sampel di ambil secara acak dengan pertimbangan beberapa kriteria. Diperoleh sejumlah 460 perusahaan yang dijadikan sampel. Data yang dikumpulkan akan diolah dengan teknik analisa data regresi panel dengan bantuan software SPSS dan Eviews. Hasil penelitian ini menunjukkan bahwa ukuran dewan komisaris berpengaruh signifikan negatif terhadap struktur modal. Sedangkan komisaris independen dan konsentrasi kepemilikan tidak berpengaruh secara signifikan terhadap struktur modal. Keberadaan komisaris independen dianggap belum efektif karena keberadaan komisaris independen hanya untuk mematuhi aturan. Sedangkan konsentrasi kepemilikan tidak berpengaruh signifikan karena berapapun jumlah saham yang dimiliki blockholder tidak mempengaruhi kebijakan pendanaan perusahaan. Penelitian ini menggunakan variabel kontrol seperti ukuran perusahaan, tangibilitas aset, profitabilitas, non debt tax shield, growth opportunities, dan volatilitas laba. Hasil penelitian konsisten dengan penelitian sebelumnya yang menunjukkan adanya pengaruh signifikan variabel-variabel kontrol tersebut terhadap struktur modal. ********************************************************************** This study aims to analyze the effect of corporate governance on capital structure. To measure corporate governance, the researcher used ownership concentration, independent commissioners, and board size variables as a benchmark. The researcher also used the firm size, asset tangibility, profitability, no debt tax shield, growth opportunities, and earnings volatility as control variables. The object of this research is the company's financial statements that have been audited and listed on the Indonesia Stock Exchange as per 2014 to 2018 period. The method used is purposive sampling, wherein the sample is taken randomly with consideration of several criteria. A total of 460 companies were sampled. The data collected are processed using panel regression data analysis techniques with the help of SPSS and Eviews software. The study concludes that the size of the board of commissioners has a significant negative effect on capital structure. Whereas independent commissioners and ownership concentration do not significantly influence the capital structure. The existence of an independent commissioner is deemed ineffective due to its mere role in complying with rules. Meanwhile, the concentration of ownership does not have a significant effect since the number of shares owned by the block holder does not affect the company's funding policy. This study used control variables such as company size, asset tangibility, profitability, nondebt tax shield, growth opportunities, and earnings volatility. The results of the study are consistent with previous studies which showed a significant influence of these control variables on capital structure.

Item Type: Thesis (Undergraduate)
Additional Information: Similarity: 24
Uncontrolled Keywords: Capital structure, corporate governance, agency issues, independent commissioner, ownership concentration
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HF Commerce
H Social Sciences > HF Commerce > HF5601 Accounting
H Social Sciences > HG Finance
Divisions: School of Economic and Business > Accounting
SWORD Depositor: Admin Repository Universitas Internasional Batam
Depositing User: Admin Repository Universitas Internasional Batam
Date Deposited: 27 Apr 2020 07:10
Last Modified: 02 Oct 2020 02:35
URI: http://repository.uib.ac.id/id/eprint/2120

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