Pengaruh ownership structure terhadap financial performance perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia
P Penelitian ini bertujuan untuk menganalisis apakah mekanisme tata kelola perusahaan yang diwakili dengan ownership structure mempunyai pengaruh terhadap financial performance pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2016 - 2020. Jumlah sampel yang diambil dalam penelitian ini sebanyak 88 perusahaan dengan teknik sampling yang digunakan adalah purposive sampling. Variabel dependen dalam penelitian ini adalah kinerja perusahaan yang diukur dengan return on assets (ROA) dan return on capital employed (ROCE). Variabel independennya terdiri foreign ownership, instutitional ownership, director’s ownership, dan government ownership serta variabel kontrol yaitu liquidity ratio, leverage ratio dan firm size. Berdasarkan hasil penelitian foreign ownership tidak berpengaruh terhadap financial performance (ROA), namun berpengaruh negatif signifikan terhadap financial performance (ROCE). Instutitional ownership dan director’s ownership berpengaruh negatif signifikan terhadap financial performance (ROA), namun tidak berpengaruh terhadap financial performance (ROCE). Government ownership berpengaruh positif signifikan terhadap financial performance (ROA dan ROCE). Liquidity ratio, dan leverage ratio berpengaruh negatif signifikan terhadap financial performance (ROA dan ROCE). Firm size berpengaruh positif signifikan terhadap financial performance (ROA), namun tidak berpengaruh terhadap financial performance (ROCE)
T The purpose of this paper is to analyze whether the good corporate governance represented by ownership structure have an influence on the financial performance in manufacturing companies listed in Indonesia Stock Exchange for the period of 2016 – 2020. The number of samples taken in this study are 88 companies with sampling technique used was purposive sampling. Dependent variable in this research is firm performance measured by return on assets (ROA) and return on capital employed (ROCE). The independent variables are foreign ownership, instutitional ownership, director’s ownership, government ownership, and control variables are liquidity ratio, leverage ratio, firm size. The result, foreign ownership has no significant effect on financial performance (ROA), but has a significant negative effect on financial performance (ROCE). Instutitional ownership and director’s ownership has a significant negative effect on financial performance (ROA), but has no significant effect on financial performance (ROCE). Government ownership has a significant positive effect on financial performance (ROA dan ROCE). Liquidity ratio, and leverage ratio has a significant negative effect on financial performance (ROA and ROCE). Firm size has a significant positive effect on financial performance (ROA), but has no significant effect on financial performance (ROCE).