scholarly journals The Effect of Good Corporate Governance on the Market Value of Financial Sector Companies in Indonesia

2021 ◽  
Vol 23 (2) ◽  
pp. 83-94
Author(s):  
Galih Adinegara ◽  
Sukmawati Sukamulya
Keyword(s):  
Corporate Governance ◽  
Statistical Tests ◽  
Random Effect ◽  
Random Effect Model ◽  
Estimation Method ◽  
Market Value ◽  
Model Estimation ◽  
Good Corporate Governance ◽  
Effect Model ◽  
Governance Practices

Corporate governance is an interesting topic to discuss recently. Governance builds trust and predictability, hence generating comfort to investors. Companies that implement good corporate governance are expected to have a good financial performance to minimize agency problems and provide more benefits to shareholders. A corporate governance framework can determine the agency problem and its effect on shareholders' value.  This study uses a random effect model estimation method. Good corporate governance in this study is measured with the corporate governance index (CGI) score and formed based on five sub-indexes. The company's market value is calculated by Tobin's Q ratio. The results of statistical tests show a positive relationship between the implementation of good corporate governance and its market value. Furthermore, this research shows how Indonesian banks listed in IDX from 2010 to 2019 implement good corporate governance practices as the index continues to increase every year.

PERANAN GOOD CORPORATE GOVERNANCE TERHADAP KEPATUHAN PENGUNGKAPAN TRANSAKSI PIHAK BERELASI

2021 ◽  
Vol 7 (2) ◽  
pp. 157-174
Author(s):  
Grace Olivia ◽  
Dwi Jaya Kirana ◽  
Ekawati Jati Wibawaningsih
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Random Effect ◽  
Random Effect Model ◽  
Control Variable ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Related Party Transactions ◽  
Good Corporate Governance ◽  
Effect Model

ABSTRAKPenelitian ini bertujuan untuk mengetahui pengaruh dari good corporate governance terhadap kepatuhan pengungkapan transaksi pihak berelasi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada periode 2017–2019. Sampel dipilih menggunakan metode purposive sampling dan diperoleh sebanyak 117 perusahaan manufaktur. Data yang digunakan adalah data sekunder berupa laporan tahunan perusahaan. Model penelitian menggunakan Random Effect Model. Hasil penelitian menunjukkan komite audit dari komisaris independen berpengaruh positif terhadap pengungkapan transaksi pihak berelasi, sedangkan variabel dependen lain tidak berpengaruh. Ukuran perusahaan sebagai variabel kontrol tidak berpengaruh terhadap pengungkapan transaksi pihak berelasi. Pengungkapan transaksi pihak berelasi berisi informasi seberapa besar posisi keuangan perusahaan dapat dipengaruhi oleh transaksi dan saldo dengan pihak berelasi sehingga dapat meminimalisir masalah agensi berupa asimetri informasi di antara pemegang saham. Pengungkapan transaksi pihak berelasi dapat menghasilkan keputusan investasi yang terbaik bagi pemegang saham.ABSTRACTThis study aims to determine the effect of good corporate governance on disclosure compliance of related party transactions in manufacturing companies listed on the Indonesia Stock Exchange in the 2017–2019 period. The sample was selected using purposive sampling method and obtained as many as 117 manufacturing companies. The data used is secondary data in the form of the company's annual report. The research model uses the Random Effect Model. The study conclude only the audit committee of independent commissioners has a positive influence on the disclosure of related party transactions, while the other dependent variables have no effect. Firm size, as a control variable, has no effect on disclosure of related party transactions. Disclosure of related party transactions contains information on how much the company's financial position can be affected by transactions and balances with related parties so as to minimize agency problems in the form of information asymmetry among shareholders. Disclosure of related party transactions can result in the best investment decisions for shareholders.

scholarly journals Exploring Linkages Between Corporate Governance and Business Performance: Does Good Corporate Governance Lead to Enhanced Business Value?

2020 ◽  
Vol 27 (1) ◽  
pp. 37-61
Author(s):  
Tirthankar Nag ◽  
Chanchal Chatterjee
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Business Performance ◽  
Stock Exchange ◽  
Random Effect ◽  
Corporate Boards ◽  
Market Returns ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
The Relationship

This study explores the influence of corporate governance practices in corporate boards on firm performance and draws insights on the relative importance for companies for fostering the development of governance mechanisms in business. The study examines 50 firms belonging to the benchmark index of the National Stock Exchange of India (NIFTY 50) and tracks them for over a five-year period. The study uses fixed and random effect econometric models to explore the relationship between corporate governance variables, and firm performance using both accounting returns (EVA, ROA and ROE) and market returns (MVA). The study finds that corporate governance variables significantly improve firm performance or value creation. Especially, multiple directorships, involvement of foreign institutional investors and increase in promoter holdings may significantly affect returns of the firm. The study suggests that it may be useful to foster better corporate governance practices and monitor linkages with firm performance as the effect is influenced by other control variables also.

scholarly journals PENGARUH CORPORATE GOVERNANCE DAN KINERJA KEUANGAN TERHADAP MANAJEMEN LABA PERBANKAN SYARIAH

2021 ◽  
Vol 8 (4) ◽  
pp. 509
Author(s):  
Imaniar Agustin ◽  
Dian Filianti
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Commercial Banks ◽  
Quantitative Methods ◽  
Random Effect ◽  
Random Effect Model ◽  
Supervisory Board ◽  
Board Size ◽  
Purposive Sampling ◽  
Effect Model

ABSTRAKPenelitian ini bertujuan untuk mengetahui variabel-variabel spesifik yang memiliki pengaruh terhadap manajemen laba pada Bank Umum Syariah di Indonesia periode Januari 2013 sampai Desember 2018. Penelitian ini menggunakan metode kuantitatif dengan teknik analisis regresi data panel, meneliti pengaruh Ukuran Dewan Pengawas Syariah, Ukuran Dewan Komisaris, Proporsi Dewan Komisaris Independen, Bank Size, dan Return On Asset (ROA) terhadap Manajemen Laba. Penelitian ini menggunakan data laporan tahunan Bank Umum Syariah di Indonesia. Populasi dalam penelitian ini adalah seluruh Bank Umum Syariah yang terdaftar di Bank Indonesia periode 2013-2018. Penelitian ini menggunakan teknik purposive sampling, dan dari kriteria yang ditetapkan diperoleh 11 Bank Umum Syariah tahun 2013-2018. Hasil dari penelitian dengan model estimasi Random Effect Model (REM) menunjukkan bahwa variabel Ukuran Dewan Pengawas Syariah, Ukuran Dewan Komisaris, Proporsi Dewan Komisaris Independen, Bank Size, dan Return On Asset (ROA) secara simultan berpengaruh terhadap manajemen laba. Secara parsial, variabel Ukuran Dewan Pengawas Syariah, Proporsi Dewan Komisaris Independen dan Return On Asset (ROA) tidak berpengaruh terhadap manajemen laba, variabel Bank Size berpengaruh negatif signifikan terhadap manajemen laba, variabel Ukuran Dewan Komisaris berpengaruh positif dan signifikan terhadap manajemen laba Bank Umum Syariah di Indonesia.Kata Kunci: corporate governance, kinerja keuangan , dan  perbankan syariah. ABSTRACTThis study aims to determine specific variables that have an impact on Earnings Management in Sharia Commercial Banks in Indonesia from January 2013 to December 2018. This study used quantitative methods with panel data regression analysis techniques, examining the effect of Sharia Supervisory Board Size, Board of Commissioners Size, The proportion of the Independent Commissioner, Bank Size, and Return On Asset (ROA) on Earnings Management. This study used annual report data for Islamic Commercial Banks in Indonesia.  The population in this study were all Sharia Commercial Banks registered with Bank Indonesia for the period 2013-2018. This research used the purposive sampling technique, and from the specified criteria obtained 11 Islamic Commercial Banks in 2013-2018. The results of the study with the estimation model of Random Effect Model (REM) show that the variables of Sharia Supervisory Board Size, Board of Commissioners Size, Proportion of Independent Commissioners, Bank Size, and  Return On Asset (ROA) simultans affect earnings management. Partially, in the Syariah Supervisory Board, Proportion of Independent Commissioners, and Return On Asset does not affect earnings management, the Bank Size variable has a significant negative effect on earnings management, the size of the Board of Commissioners variable has a positive and significant effect on earnings management in Sharia Commercial Banks in Indonesia.Keywords: corporate governance, financial performance and sharia banking.

scholarly journals PENGARUH CORPORATE GOVERNANCE TERHADAP FIRM’S DEBT PADA PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI PERIODE 2013-2018

2020 ◽  
Vol 1 (1) ◽  
pp. 30-41
Author(s):  
Francisca ◽  
Mariana Ing Malelak
Keyword(s):  
Corporate Governance ◽  
Random Effect ◽  
Random Effect Model ◽  
Fixed Effect Model ◽  
Board Composition ◽  
Short Term ◽  
Board Size ◽  
Total Debt ◽  
Effect Model

Era globalisasi menjadikan perusahaan menjadi bersaing dan menentukan strategi bisnis yang sesuai dengan kondisi perusahaan. Kemampuan perusahaan dalam menentukan kinerjanya akan meningkatkan daya saing perusahaan. Penelitian ini bertujuan untuk meneliti pengaruh corporate governance terhadap firm’s debt pada perusaha­an sektor industri barang konsumsi periode 2013-2018. Sampel yang digunakan adalah 31 perusahaan sektor industri barang konsumsi yang tercatat selama periode 2013-2018. Metode analisa data dilakukan dengan menggunakan regresi data panel dengan fixed effect model dan random effect model. Variabel kontrol yang digunakan pada penelitian ini terdiri dari profitability dan firm size. Hasil penelitian in menunjukkan bahwa board size dan board composition berpengaruh signifikan terhadap short term debt, board size tidak berpengaruh signifikan terhadap long term debt namun board composition berpengaruh signifikan terhadap long term debt, serta board size dan board composition tidak berpengaruh signifikan terhadap total debt.

scholarly journals The Relevance of Good Corporate Governance Practices to Bank Performance

2021 ◽  
Vol 4 (2) ◽  
Author(s):  
Muhammad M. Ma’aji ◽  
◽  
Ediri O. Anderson ◽  
Christine G. Colon
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Random Effect ◽  
Random Effect Model ◽  
Least Square ◽  
Annual Reports ◽  
Suitable Model ◽  
Current Guideline ◽  
Board Committees ◽  
Effect Model

The purpose of this paper is to examine how corporate governance instruments impact firm value in the context of Cambodian banks. This paper considers foreign and domestic-owned banks in Cambodia. This study opts for a balanced sample of foreign and domestic owned banks for the period 2014-2018. Panel data regression is adopted for estimation of main results. The suitable model, i.e. fixed and random effect model is selected using the Hausman specification test where the result shows that the random effect model using generalized least square (GLS) regression is more suitable for the analysis. The findings show that Cambodian banks are having a substantially higher percentage of NEDs on their board, high implementation of governance procedures on board committees where on average the banks are having more than the required two board committees (audit and risk committees) as required by the Prakas on the governance of banks by National Bank of Cambodia. The average board size is around 8 members of which at least 3 members are having a postgraduate degree or a professional qualification. Policymakers need to improve on their supervisory function as the majority of the domestic and some foreign banks do not disclose their annual reports on their company website as required by the Prakas on Corporate Governance of Banks operating in Cambodia. Moreover, amendments should be made to the current corporate governance code for financial institutions as there are no explanatory notes that guide companies and therefore, the current guideline is open to individual and subjective interpretation.

scholarly journals CORPORATE SOCIAL RESPONSIBILITY DAN NILAI PERUSAHAAN: MODERASI CORPORATE GOVERNANCE

2020 ◽  
Vol 1 (2) ◽  
Author(s):  
Andyka Yudha Satria Putra ◽  
Suherman Suherman ◽  
Destria Kurnianti
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Audit Committee ◽  
Random Effect ◽  
Random Effect Model ◽  
Firm Age ◽  
Effect Model ◽  
Corporate Social

Penelitian ini bertujuan untuk mengetahui pengaruh corporate social responsibility terhadap nilai perusahaan dimoderasi oleh corporate governance pada perusahaan pertambangan yang terdaftar di IDX Tahun 2013-2017. Variabel bebas yang digunakan dalam penelitian ini adalah corporate social responsibility yang diukur dengan CSRI. Variabel terikat yang digunakan adalah Nilai Perusahaan yang diproksikan dengan PBV dan variabel moderasi yang digunakan adalah corporate governance yang diproksikan dengan komite audit. Penelitian ini juga menggunakan variabel kontrol, yaitu ukuran perusahaan, profitabilitas, leverage, dan usia perusahaan. Metode pengambilan sampel yang digunakan adalah teknik purposive sampling. Model yang digunakan dalam penelitian ini adalah data panel dengan pendekatan random effect model. Hasil penelitian menunjukkan bahwa corporate social responsibility berpengaruh positif dan signifikan terhadap nilai perusahaan. Corporate governance yang diproksikan Komite Audit melemahkan hubungan antara corporate social responsibility terhadap Nilai Perusahaan.Kata Kunci:  Nilai Perusahaan, Corporate Social Responsibility, Komite Audit, Ukuran Perusahaan, Profitabilitas, Leverage, Usia Perusahaan.The aim of this study is to determine the effect of corporate social responsibility on the firm value moderated by corporate governance on mining sector listed on IDX Period 2013-2017. Independent variable of this study is corporate social responsibility as measured by CSRI. Dependent variable of this study is firm value with PBV as a proxy. While moderating variable used is corporate governance with audit committee as the proxy. Then control variable in this study are Firm Size, Profitability, Leverage, and Firm Age. The data used in this study is annual report of mining sector listed in Indonesia Stock Exchange (IDX) period 2013-2017. The sampling method of this study is purposive sampling technique. The research model of this study employs panel data analysis with random effect model approach. The empirical result shows that corporate social responsibility does positive effect and significant on firm value. Corporate governance moderated by audit committee weakening the relation between corporate social responsibility on Firm Value.Keywords: Firm Value, Corporate Social Responsibility, Audit Committee, Firm Size, Profitability, Leverage, Firm Age.

scholarly journals The Influence of Good Corporate Governance and Corporate Social Responsibility on Firm Value: Evidence from Indonesia

2019 ◽  
pp. 177-183
Author(s):  
Farida Farida ◽  
Adhika Ramadhan ◽  
Ratih Wijayanti
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Audit Committee ◽  
Stock Exchange ◽  
Random Effect ◽  
Random Effect Model ◽  
Good Corporate Governance ◽  
Corporate Social

The company goal is to maximize the shareholders’ prosperity, not just to maximize profit. The fact is that the company not only has economic responsibility but also social responsibility to the community and its environment. The purpose of this study was to analyze the effect of good corporate governance (GCG) and corporate social responsibility (CSR) on the firm value. The research sample of 15 companies was taken using purposive sampling from companies listed in the LQ-45 on the Indonesia Stock Exchange for the period of 2014-2017. This study uses panel data regression analysis with Random Effect model method. GCG is a representation of managerial ownership, institutional ownership, independent commissioner, and audit committee. The results of this study indicate that there is a significant influence between GCG and CSR on firm value simultaneously. Partially, independent Commissioners and CSR each have an influence on the firm value, but there is an anomaly.

scholarly journals META-ANALYSIS: MENGEVALUASI EFEKTIVITAS PROBLEM BASED LEARNING PADA KEMAMPUAN PEMAHAMAN MATEMATIS SISWA

2021 ◽  
Vol 4 (1) ◽  
pp. 1-18
Author(s):  
Yulina Kartika Sari ◽  
Dadang Juandi ◽  
Maximus Tamur ◽  
Angela Merici G Adem
Keyword(s):  
Mathematics Education ◽  
Meta Analysis ◽  
Mathematics Learning ◽  
Random Effect ◽  
Random Effect Model ◽  
Estimation Method ◽  
Problem Based Learning ◽  
Effect Model ◽  
Study Characteristics ◽  
Learning Software

Problem-based learning (PBL) has been widely applied as a learning method in mathematics education. This meta-analysis study was conducted to summarize the evidence on the effectiveness of PBL on students' comprehension abilities. An associated database was searched for studies that met the inclusion criteria. The estimation method used a random-effect model with a 95% confidence interval (CI). The study analyzed 35 effect sizes from 22 primary studies published between 2011 and 2020, and for a total of 1993, students were included. The Comprehensive Meta-Analysis (CMA) program was used to assist the analysis. As a result of the study, the overall effect size was 0.790 (moderate effect) with a standard error of 0.181. Analysis of the study characteristics revealed that the application of PBL was more effective in the conditions of the sample size set by 1 - 30 students; lower level of education, and combined with the use of mathematics learning software. These findings become a consideration for mathematics education practitioners for the implementation of PBL in the future.

Investigation of prevalence and complications of female genital circumcision: A systematic and meta-analytic review study

2021 ◽  
Vol 17 ◽  
Author(s):  
Sara Abdoli ◽  
Seyedeh Zahra Masoumi ◽  
Ensiyeh Jenabi
Keyword(s):  
Female Genital Mutilation ◽  
Female Circumcision ◽  
Statistical Tests ◽  
Random Effect ◽  
Random Effect Model ◽  
Genital Mutilation ◽  
Effect Model ◽  
Analytic Review ◽  
Prevalence Estimates ◽  
Female Genital

Objective: The present study was conducted to investigate the complications of circumcision and determine its prevalence in the studied areas. Method: In this study, the electronic databases of Scopus, PubMed, SID, Web of Science, Magiran were selected to search the total population of observational studies published in Persian and English on the prevalence and circumcision complications in girls. The keywords searched for this purpose were as follows: female genital mutilation, Infibulations, Epidemiologic Methods, Clitorectomies, Female Circumcision, Clitorectomy, Clitoridectomy Complications, Prevalence, associated disease, coexistent conditions, and sequels associated with concomitant conditions, and coexistent disease and their Persian equivalent words. Prevalence estimates of all studies were pooled using a random-effects model at a confidence level of 95%. The bias in the published results of the studies and any reporting errors were examined using Begg and Egger’s statistical tests. Out of 3756 studies, 45 articles were included in the study after excluding irrelevant and repetitive articles. Results: After reviewing the articles in this field, it was determined that female genital mutilation has sexual complications, problems during childbirth, physical and psychological complications. The prevalence of female genital circumcision in world and Iran in the study areas was obtained using the random effect model was estimated to be 61% (95%, CI = 0.49, 0.73) and 61% (95%, CI = 0.52, 0.70), respectively. In other areas, the prevalence was reported to be close to zero. In total among different countries of world in the study area, Of the 207,709 participants surveyed, 110,596 had undergone female genital circumcision (110,596 of 207,709). Conclusion: The effects of female genital mutilation on girls are high and require government intervention in various countries.

scholarly journals Nilai Pasar, Aset Tetap, Profitabilitas, Struktur Modal dan Nilai Perusahaan pada Perusahaan yang Melakukan IPO di Tahun 2013

2019 ◽  
Vol 1 (1) ◽  
pp. 133
Author(s):  
Matilda Matilda
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Price ◽  
Random Effect ◽  
Random Effect Model ◽  
Market Value ◽  
Fixed Effect Model ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Effect Model

This research aims to find out financial performance of firms that conduct an IPO of shares in the year of 2013 which are listed in the Indonesian Capital Market (Bursa Efek Indonesia) for observation period 2013 until 2016, using Tobin’s Q model. To get the value of Tobin’s Q, data are collected form internet, such as financial statement and closing stock price. Companies with highest Q value (overvalued condition) illustrates that the company has high investment growth. Which variations are influenced by variations of free variables such as market value, tangibility, profitability, and capital structure. The specific uniqueness is emperical data are generally applied for IPO-firms. Because IPO is a phenomenon of the early phase of growth. This research conducted by using Eviews 8. Model 1 uses random effect model. Model 2 uses fixed effect model. The conclusion of this research is that market value, tangibility dan profitability have significant influence for capital structure. Futhermore, firm value would be more fit with capital structure as compared to profitability. Because profitability of firms that conduct an IPO of share is negative.

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