Indri Ayu Lestari, - (2019) PENGARUH CORPORATE GOVERNANCE TERHADAP CASH HOLDING PADA PERUSAHAAN NON-KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2010 – 2017. S2 thesis, Universitas Pendidikan Indonesia.
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Abstract
Tujuan penelitian ini adalah untuk mengetahui pengaruh Corporate Governance terhadap Cash holdings pada perusahaan yang listing di Bursa Efek Indonesia periode 2010-2017. Metode yang digunakan dalam penelitian ini adalah metode kuantitatif dengan pusposive sampling, data yang digunakan adalah data time series yang diperoleh dari Bursa Efek Indonesia. Teknik analisa data yang digunakan dalam penelitian ini berdasarkan hasil uji model penelitian adalah model fixed effect. Perusahaan yang memiliki Corporate Governance yang kurang baik cenderung mengakumulasikan dana (cash holdings) dibandingkan perusahaan yang memiliki Corporate Governance yang baik. Hasil dari penelitian ini mendukung flexibility Hypothesis dimana perusahaan di Indonesia cenderung menimbun kas seperti di Negara Singapore dan Malaysia walaupun tidak memiliki struktur kepemilikan tunggal, kemungkinan hal ini di pengaruhi oleh sistem hukum yang masih lemah, dimana sistem hukum di Indonesia tidak berperan sebagai pengawas tentang praktek pengelolaan perusahaan, sehingga perusahaan secara defacto memiliki otonomi yang luas dalam menentukan kebijakan perusahaan tanpa ada kontrol dari regulator, pemerintah sebagai regulator hanya berperan memberikan payung hukum dan tata kelola perusahaan (Corporate Governance) sepenuhnya diserahkan pada perusahaan masing-masing sehingga tidak ada standar yang dijadikan ajukan oleh perusahaan dalam praktek Corporate Governance nya. ----- The purpose of this study is to find out the influence of corporate governance on cash holdings in non-financial compa9nies that are listed in the Indonesian stock exchange for the period 2010 -2017. The method used in this study is a quantitative method equipped with a purpose sampling, the list used is time series data obtained from the Indonesian stock exchange. The data analysis technique used in this study which was based on the result of the research model test is the fixed effect model. Companies that have poor corporate governance tend to accumulate cash ( cash holdings) compared to companies that have good corporate governance. The result of this study supports the flexibility hypothesis that companies in Indonesia tend to hoard cash as in Singapore and Malaysia even though they do not have a single ownership structure. This possibility is influenced by a weak legal system, where the legal system in Indonesia does not act as a supervisor of corporate management practices, so that the company without control from regulator, the government as the regulator only has the role of providing a legal umbrella and full corporate governance submitted to each company so that there are no standards that are used as references by companies in corporate governance.
| Item Type: | Thesis (S2) |
|---|---|
| Uncontrolled Keywords: | Flexibility Hypothesis, Corporate Governance, Cash Holdings, Board Size, Board Independent, Insider, Family Pyramid, Leverage, Net Working Capital, Sales Growth dan Capital Expenditure |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Sekolah Pasca Sarjana > Magister Manajemen Bisnis |
| Depositing User: | Mrs. Santi Santika |
| Date Deposited: | 12 May 2020 08:29 |
| Last Modified: | 12 May 2020 08:29 |
| URI: | http://repository.upi.edu/id/eprint/48672 |
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