Pengaruh struktur kepemilikan dan struktur dewan terhadap kinerja perusahaan manufaktur di Indonesia
P enelitian ini bertujuan untuk menganalisis apakah mekanisme tata kelola perusahaan yang diwakili dengan struktur kepemilikan dan struktur dewan mempunyai pengaruh terhadap kinerja perusahaan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2012 - 2016. Jumlah sampel yang diambil dalam penelitian ini sebanyak 59 perusahaan dengan teknik sampling yang digunakan adalah purposive sampling. Variabel dependen dalam penelitian ini adalah kinerja perusahaan yang diukur dengan Tobin’s Q dan return on assets (ROA). Variabel independennya terdiri dari managerial ownership, institutional ownership, foreign institutional investors ownership, board of directors, independent commissioners serta variabel kontrol yaitu firm size, firm age, leverage, sales growth. Berdasarkan hasil penelitian managerial ownership, institutional ownership, foreign institutional investors ownership, board of directors, firm size, sales growth berpengaruh positif terhadap kinerja perusahaan (Tobin’s Q dan ROA). Leverage berpengaruh negatif terhadap kinerja perusahaan baik dengan Tobin’s Q maupun return on assets (ROA). Independent commissioners dan firm age tidak memiliki pengaruh terhadap kinerja perusahaan (Tobin’s Q dan ROA).
T he purpose of this paper is to analyze whether the good corporate governance represented by ownership structure and board structure have an influence on the firm performance in manufacturing companies listed in Indonesia Stock Exchange for the period of 2012 – 2016. The number of samples taken in this study are 59 companies with sampling technique used was purposive sampling. Dependent variable in this research is firm performance measured by Tobin’s Q and return on assets (ROA). The independent variables are managerial ownership, institutional ownership, foreign institutional investors ownership, board of directors, independent commissioners and control variables are firm size, firm age, leverage, sales growth. The result, managerial ownership, institutional ownership, foreign institutional investors ownership, board of directors, firm size, sales growth has a significant positive effect on firm performance (Tobin’s Q and ROA). Leverage has a significant negative effect on firm performance (Tobin’s Q and ROA). But independent commissioners and firm age has no significant effect on firm performance (Tobin’s Q and ROA).