Koneksi Politik, Corporate Governance, dan Family Ownership sebagai Variabel Moderasi

Savira Rizma Yunita, Putri Thoyyibah

Sari


Abstrak

Penelitian ini bertujuan untuk mengetahui pengaruh koneksi politik terhadap corporate governance di perusahaan dengan menggunakan kepemilikan keluarga sebagai variabel moderasi. Penelitian menggunakan teknik analisis regresi linier berganda dengan jumlah sampel sebanyak 113 sampel perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia periode 2011-2018. Pemilihan sampel menggunakan metode purposive sampling. Hasil penelitian menemukan bahwa perusahaan yang terhubung secara politik (PCON) berpengaruh positif terhadap tata kelola perusahaan, dan kepemilikan keluarga (FOWN) memperlemah pengaruh koneksi politik (PCON) terhadap tata kelola perusahaan (CG).

Kata Kunci: Koneksi politik, tata kelola perusahaan, kepemilikan keluarga.

 

Abstract

In this study, the authors intend to determine the effect of corporate governance on capital structure, as well as the This study aims to determine the effect of political connections on corporate governance in companies by using family ownership as the moderating variable. This study uses multiple linear regression analysis techniques with a total sample of 113 samples of non-financial companies listed on the Indonesia Stock Exchange for the period 2011-2018. The sample selection in this study used purposive sampling method. The results of the study found that politically connected companies (PCON) had a positive effect on corporate governance, and family ownership (FOWN) weakened the influence of political connections (PCON) on corporate governance (CG).

Keywords: Political connection, corporate governance, family ownership


Teks Lengkap:

PDF

Referensi


Al-dhamari, R., & Ismail, K. N. I. K. (2015). Cash Holding, Political Connection and Earning Quality. International Journal of Managerial Finance, 11(2), 215-231–751. http://www.emeraldinsight.com/doi/pdfplus/10.1108/F-11-2014-0094

Andrei Shleifer, & Vishny, R. W. (1997). A Survey of Corporate Governance Andrei. PhD Proposal, 1(2), 737–783.

Bozec, Y., & Bozec, R. (2007). Ownership concentration and corporate governance practices: Substitution or expropriation effects? Canadian Journal of Administrative Sciences, 24(3), 182–195. https://doi.org/10.1002/CJAS.23

Chaney, P. K., Faccio, M., & Parsley, D. (2011). The quality of accounting information in politically connected firms. Journal of Accounting and Economics, 51(1–2), 58–76. https://doi.org/10.1016/j.jacceco.2010.07.003

Dicko, S. (2017). Political connections, ownership structure and quality of governance.

International Journal of Managerial Finance, 13(4), 358–377. https://doi.org/10.1108/IJMF-01- 2017-0010

Dinata, A., & Azazi, A. (2017). Asymmetric Information and Capital Structure: Empirical Evidence from Indonesia Stock Exchange. International Journal of Economics and Financial Issues, 7(6), 8–15.

Faccio, M. (2006). Politically connected firms. American Economic Review, 96(1), 369–386. https://doi.org/10.1257/000282806776157704

Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance and Investment, 5(4), 210–233. https://doi.org/10.1080/20430795.2015.1118917

Lees, L., & Bondi, L. (1995). De-gentrification and economic recession: The case of New York city. Urban Geography, 16(3), 234–253. https://doi.org/10.2747/0272-3638.16.3.234

Leuz, C., & Oberholzer-Gee, F. (2006). Political relationships, global financing, and corporate transparency: Evidence from Indonesia. Journal of Financial Economics, 81(2), 411–439. https://doi.org/10.1016/j.jfineco.2005.06.006

Putri, E. S., & Wisudanto, W. (2017). Struktur Pembiayaan Pembangunan Infrastruktur di Indonesia Penunjang Pertumbuhan Ekonomi. IPTEK Journal of Proceedings Series, 3(5), 222–228. https://doi.org/10.12962/j23546026.y2017i5.3136

Ramon-Llorens, M. C., Garcia-Meca, E., & Pucheta-Martínez, M. C. (2020). Female directors on boards. The impact of faultlines on CSR reporting. Sustainability Accounting, Management and Policy Journal. https://doi.org/10.1108/SAMPJ-07-2019-0273

Setiawan, R., & Pradana, E. W. (2020). Institutional ownership, newly appointed CEO, and dividend initiation: Empirical evidence from Indonesian companies. Journal of Economics, Business, & Accountancy Ventura, 22(3), 435–443. https://doi.org/10.14414/jebav.v22i3.1725

Tee, C. M. (2019). Political connections, the cost of debt and board attributes: evidence from Malaysia. Managerial Finance, 45(7), 842–855. https://doi.org/10.1108/MF-04-2018-0179

Wisudanto. (2014). Diversifikasi Usaha dan Struktur Modal. Jurnal Manajemen Bisnis Indonesia, 2, 77–89.




DOI: https://doi.org/10.37531/yum.v5i1.1398

Refbacks

  • Saat ini tidak ada refbacks.


Lisensi Creative Commons
Ciptaan disebarluaskan di bawah Lisensi Creative Commons Atribusi-BerbagiSerupa 4.0 Internasional
Web Analytics Made Easy - StatCounter