Karakteristik Dewan dan Kinerja Keuangan Perusahaan di Indonesia
Abstract
Karakteristik dewan memiliki peran yang penting dalam mengimplementasikan tata kelola perusahaan dan dapat meningkatkan kinerja perusahaan. Penelitian ini bertujuan untuk menginvestigasi hubungan antara karakteristik dewan terhadap kinerja keuangan pada perusahaan di Indonesia. Karakteristik dewan dalam penelitian ini diukur melalui jumlah dewan direksi, proporsi komisaris independen, kepemilikan manajerial, tingkat pendidikan CEO, dan masa jabatan CEO. Sedangkan kinerja keuangan diukur melalui Return on Asset dan Return on Equity. Terdapat empat variabel kontrol yaitu ukuran perusahaan, umur perusahaan, leverage, dan pertumbuhan penjualan. Penelitian ini menggunakan analisis regresi linear berganda dengan jumlah 1.562 observasi dari 314 perusahaan non-keuangan yang tercatat di Bursa Efek Indonesia pada tahun 2015-2019. Hasil penelitian adalah semakin tinggi proporsi komisaris independen akan menyebabkan kinerja perusahaan semakin rendah. Namun, penelitian ini tidak menemukan adanya pengaruh antara jumlah dewan direksi, kepemilikan manajerial, tingkat pendidikan CEO dan masa jabatan CEO terhadap kinerja perusahaan. Sedangkan untuk variabel kontrol yaitu ukuran perusahaan dan pertumbuhan penjualan semakin tinggi akan menyebabkan kinerja semakin tinggi. Lalu umur perusahaan dan leverage berpengaruh negatif signifikan terhadap kinerja perusahaan. Hasil penelitian ini dapat menjadi referensi dan memberikan pandangan yang lebih mendalam lagi mengenai hubungan antara karakteristik dewan dengan kinerja perusahaan. Penelitian ini juga menemukan bahwa masih ada perusahaan yang belum menaati jumlah minimal proporsi komisaris independen yang sebesar 30%.
Kata kunci: karakteristik dewan, kepemilikan manajerial, tingkat pendidikan, masa jabatan, kinerja
perusahaan.
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