PENGARUH MEKANISME TATA KELOLA PERUSAHAAN TERHADAP KESULITAN KEUANGAN (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2014-2015)

Widya Wanti Paramastri, P. Basuki Hadiprajitno

Abstract


The purpose of this study is to examine the influence of corporate governance mechanism to financial distress. The dependent variable of this study is financial distress which is proxied as dummy variable of negative net profit in two years and the independent of this study are corporate governance index, institutional ownership, state ownership, and ownership concentration. Control variables in this study are  return on sales, current ratio, book-to-market ratio, leverage and corporate size.

The population of this study are manufacture companies that listed in Indonesia Stock Exchange  (BEI)  in  2014-2015.  Total  samples  are 165 companies. This  study  used  purposive sampling  as  the sampling  method and logistic  regression  as  the  data  analysis.  In logistic regression the classical assumption test that needed in this analysis is multicollinearity test.

The results of this study indicates that the corporate governance index has significant negatif influence to likelihood  of financial distress. While the institutional ownership, state ownership, and ownership concentration have no significant influence to likelihood of financial distress.


Keywords


financial distress, corporate governance mechanism, corporate governance index, and ownership mechanism

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Program Studi Akuntansi
Fakultas Ekonomika dan Bisnis
Universitas Diponegoro
Jl. Prof. Sudharto, SH – Tembalang, Semarang
Jawa Tengah 50275

ISSN : 2337-3806