KARAKTERISTIK DEWAN DIREKSI, KOMITE AUDIT, DAN KEPEMILIKAN TERHADAP KINERJA PERUSAHAAN

Widijaya Widijaya, Riskiyanto Riskiyanto

Abstract


ABSTRAK

Pada era bisnis yang semakin kompetitif, perusahaan diharuskan memiliki kinerja perusahaan yang cukup baik untuk bertahan di era ini. Kinerja perusahaan dapat ditingkatkan dengan menerapkan tata kelola perusahaan yang baik (good corporate governance), terdapat beberapa faktor yang mempengaruhi good corporate governance dari suatu perusahaan yakni karakteristik komite audit, karakteristik dari dewan direksi, serta struktur kepemilikan dalam perusahaan sehingga tujuan dari riset ini untuk mempelajari perkembangan dari kinerja perusahaan dari penerapan tata kelola perusahaan yang baik (good corporate governance). Good corporate governance melibatkan penerapan komponen penting seperti karakteristik dari komite audit, karakteristik dari dewan direksi serta struktur kepemilikan di perusahaan. penelitian ini berfokus pada perusahaan yang tercatat di Bursa Efek Indonesia dari tahun 2017 hingga tahun 2021. Purposive sampling digunakan dalam penelitian ini untuk menyeleksi data, hasilnya sebanyak 1.769 data yang memenuhi semua kriteria. Riset ini menyimpulkan bahwa pengaruh negatif yang signifikan ukuran dewan direksi terhadap kinerja perusahaan, selain itu ditemukan bahwa kepemilikan komite audit, ukuran dari komite audit, independensi komite audit, latar belakang komite audit, independensi dewan direksi, kepemilikan manajerial, konsentrasi kepemilikan saham, kepemilikan keluarga, dan kepemilikan saham oleh manajerial tidak ditemukan pengaruh signifikan terhadap kinerja perusahaan. Riset ini adalah riset perdana yang menyelidiki pengaruh antara kepemilikan komite audit dan kinerja perusahaan.

Kata Kunci: Dewan Direksi; Kepemilikan; Kinerja Perusahaan; Komite Audit; Tata Kelola Perusahaan

ABSTRACT

Nowadays businesses environment become more and more competitive companies are required to have excellent firm’s performance to survive, to increase firm’s performance companies ought to apply good corporate governance there are several factors affect good corporate governance such as the qualities of the audit committee, the board, and the ownership structure so the major objective of this study is to assess how applying excellent corporate governance has affected a firm's performance. This study's focus is on companies that will be listed on the Indonesian Stock Exchange between 2017 and 2021. Purposive sampling was utilized in this study to filter the sample data, resulting in a total of 1,769 sample data that satisfied all criteria. The outcome demonstrates that elements like audit committee size, independence, and expertise, as well as audit committee stock ownership, audit committee meeting frequency, board independence, board meeting frequency, ownership concentration, family ownership, and managerial ownership don’t have a significant impact on a company's performance. This study discovered a board size has a significant negative impact on firm performance. This study is the first to investigate the connection between the firm performance and the stock that the audit committee owns.

Keywords: Board; Ownership; Firm’s Performance; Audit Committee; Good Corporate Governance


References


Abdulsamad, A. O., Wan Fauziah, W. Y., & Lasyoud, A. A. (2018). The influence of the board of directors’ characteristics on firm performance: Evidence from Malaysian public listed companies. Corporate Governance and Sustainability Review, 2(1), 6–13. https://doi.org/10.22495/cgsrv2i1p1

Adiati, Y. (2017). Pengaruh Karakteristik Komite Audit Terhadap Kinerja Perusahaan Perbankan di Bursa Efek Indonesia Tahun 2013 - 2015. Diponegoro Journal of Accounting, 6(4), 1–15. http://ejournal-s1.undip.ac.id/index.php/accounting

Al-Matari, E. M., Al-Swidi, A. K., & Fadzil, F. H. B. (2014). Audit committee characteristics and executive committee characteristics and firm performance in Oman: Empirical study. Asian Social Science, 10(12), 98–113. https://doi.org/10.5539/ass.v10n12p98

Al-Okaily, J., & Naueihed, S. (2020). Audit committee effectiveness and family firms: impact on performance. Management Decision, 58(6), 1021–1034. https://doi.org/10.1108/MD-04-2018-0422

Al Farooque, O., Buachoom, W., & Sun, L. (2020). Board, audit committee, ownership and financial performance – emerging trends from Thailand. Pacific Accounting Review, 32(1), 54–81. https://doi.org/10.1108/PAR-10-2018-0079

Alqatamin, R. M. (2018). Audit Committee Effectiveness and Company Performance: Evidence from Jordan. Accounting and Finance Research, 7(2), 48. https://doi.org/10.5430/afr.v7n2p48

Alzeban, A. (2020). The relationship between the audit committee, internal audit and firm performance. Journal of Applied Accounting Research, 21(3), 437–454. https://doi.org/10.1108/JAAR-03-2019-0054

Bagais, O. A., & Aljaaidi, K. S. (2020). Corporate governance attributes and firm performance in Saudi Arabia. Accounting, 6(6), 931–936. https://doi.org/10.5267/j.ac.2020.8.005

Bennedsen, S. K. B., & Sorensen, L. L. L. (2017). INTERNATIONALIZATION EFFECTS IN A GLOBAL KNOWLEDGE-BASED INDUSTRY: A STUDY OF MULTINATIONAL PHARMACEUTICAL COMPANIES. In The Responsive Global Organization. https://doi.org/10.1108/9781787148314

Bolton, B. (2014). Audit committee performance: Ownership vs.independence - Did SOX get it wrong? Accounting and Finance, 54(1), 83–112. https://doi.org/10.1111/j.1467-629X.2012.00504.x

Buachoom, W. (2018). How Do Board Structures of Thai Firms Influence on Different Quantile Levels of Firm Performance? 157–189. https://doi.org/10.1108/s2514-465020180000006004

Bukhori, I., & Raharja, R. (2012). Pengaruh Good Corporate Governance dan Ukuran Perusahaan Terhadap Kinerja Keuangan Perusahaan (Studi Empiris pada Perusahaan Perbankan yang Terdaftar di BEI 2010-2013). Jurnal Online Mahasiswa Fakultas Ekonomi Universitas Riau, 1(1), 263–274.

Chatterjee, M., & Bhattacharjee, T. (2020). Ownership concentration, innovation and firm performance: empirical study in Indian technology SME context. South Asian Journal of Business Studies, 10(2), 149–170. https://doi.org/10.1108/SAJBS-10-2019-0185

Dakhlallh, M. M., Rashid, N., Wan Abdullah, W. A., & Al Shehab, H. J. (2020). Audit committee and Tobin’s Q as a measure of firm performance among Jordanian companies. Journal of Advanced Research in Dynamical and Control Systems, 12(1), 28–41. https://doi.org/10.5373/JARDCS/V12I1/20201005

Ellen, R. (2016). Family ownership and busy boards: impact on performance. Management Decision.

Eluyela, D. F., Akintimehin, O. O., Okere, W., Ozordi, E., Osuma, G. O., Ilogho, S. O., & Oladipo, O. A. (2018). Board meeting frequency and firm performance: examining the nexus in Nigerian deposit money banks. Heliyon, 4(10), e00850. https://doi.org/10.1016/j.heliyon.2018.e00850

Fahmi, A. A., & Adi, P. H. (2020). Pengaruh Kepemilikan Keluarga dan Likuiditas terhadap Agresivitas Pajak dengan Pemoderasi Corporate Governance. Perspektif Akuntansi, 3(2), 85–107. https://doi.org/10.24246/persi.v3i2.p85-107

Fariha, R., Hossain, M. M., & Ghosh, R. (2021). Board characteristics, audit committee attributes and firm performance: empirical evidence from emerging economy. Asian Journal of Accounting Research, ahead-of-p(ahead-of-print). https://doi.org/10.1108/ajar-11-2020-0115

Harymawan, I., Agustia, D., Aprilia, P., & Ratri, M. C. (2020). Board meeting, loss, and corporate social responsibility disclosure. Journal of Security and Sustainability Issues, 9(J), 133–150. https://doi.org/10.9770/jssi.2020.9.J(11)

Herdjiono, I., & Sari, I. M. (2017). The effect of corporate governance on the performance of a company. Some empirical findings from Indonesia. Journal of Management and Business Administration. Central Europe, 25(1), 33–52. https://doi.org/10.7206/jmba.ce.2450-7814.188

Hussain, S., Ahmad, T., & Hassan, S. (2021). CORPORATE GOVERNANCE AND FIRM PERFORMANCE USING GMM. Accounting, 7(1), 13–22. https://doi.org/10.5267/j.ac.2020.10.019

Hussein Mohammed, B., Hammood Flayyih, H., Nori Mohammed, Y., & Qusay Abbood, H. (2019). The Effect of Audit Committee Characteristics and Firm Financial Performance: An Empirical Study on Listed Companies in Iraq Stock Exchange. Journal of Engineering and Applied Sciences, 14(14), 4919–4926. https://doi.org/10.36478/jeasci.2019.4919.4926

Ilmudeen, A., & Bao, Y. (2020). IT strategy and business strategy mediate the effect of managing IT on firm performance: empirical analysis. Journal of Enterprise Information Management, 33(6), 1357–1378. https://doi.org/10.1108/JEIM-03-2019-0068

Javeed, S. A., & Lefen, L. (2019). An analysis of corporate social responsibility and firm performance with moderating effects of CEO power and ownership structure: A case study of the manufacturing sector of Pakistan. Sustainability (Switzerland), 11(1). https://doi.org/10.3390/su11010248

Kaihatu, T. S. (2017). Good Corporate Governance dan Penerapannya di Indonesia. Polymeric Materials Science and Engineering, Proceedings of the ACS Division of Polymeric Materials Science and Engineering.

Kamaludin, K., Ibrahim, I., & Sundarasen, S. (2020). Moderating effects of family business on audit committee diligence and firm performance: A middle eastern perspective. International Journal of Economics and Management, 14(2), 173–188.

Kao, M. F., Hodgkinson, L., & Jaafar, A. (2019). Ownership structure, board of directors and firm performance: evidence from Taiwan. Corporate Governance (Bingley), 19(1), 189–216. https://doi.org/10.1108/CG-04-2018-0144

Kurniawan, R., Budiastuti, D., Hamsal, M., & Kosasih, W. (2021). Networking capability and firm performance: the mediating role of market orientation and business process agility. Journal of Business and Industrial Marketing, 36(9), 1646–1664. https://doi.org/10.1108/JBIM-01-2020-0023

Li, M., & Roberts, H. (2018). Does mandated independence improve firm performance? Evidence from New Zealand. Pacific Accounting Review, 30(1), 92–109. https://doi.org/10.1108/PAR-01-2017-0004

Lieskoski, K. (2020). HOW FAMILY OWNERSHIP AFFECTS FIRM PERFORMANCE: EVIDENCE FROM THE KOREAN EXCHANGE. Accounting and Finance, 25(1), 1–9. http://dx.doi.org/10.1016/j.jss.2014.12.010%0Ahttp://dx.doi.org/10.1016/j.sbspro.2013.03.034%0Ahttps://www.iiste.org/Journals/index.php/JPID/article/viewFile/19288/19711%0Ahttp://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.678.6911&rep=rep1&type=pdf

Lumapow, L. S. (2018). The Influence of Managerial Ownership and Firm Size On Debt Policy. International Journal of Applied Business and International Management, 3(1), 47–55. https://doi.org/10.32535/ijabim.v3i1.76

Marianus Subianto 1. (2016). Pengaruh Gaji Dan Insentif Terhadap Kinerja Karyawan Pada Pt . Serba Mulia Auto. 4, 698–712.

Meiryani. (2021). An empirical analysis of corporate governance and firm value: Evidence from KSE-100 Index. Accounting and Finance, 52(4), 971–1000.

Moon, C., & Acquaah, M. (2020). Performance implications of combining creative and imitative innovation strategies. European Journal of Innovation Management. https://doi.org/10.1108/EJIM-06-2020-0213

Mulyadi, R. (2017). Pengaruh karakteristik komite audit dan kualitas audit terhadap profitabilitas Perusahaan. Jurnal Akuntansi, 4(2), 22–35.

Musallam, S. R. M. (2020). Effects of board characteristics, audit committee and risk management on corporate performance: evidence from Palestinian listed companies. International Journal of Islamic and Middle Eastern Finance and Management, 13(4), 691–706. https://doi.org/10.1108/IMEFM-12-2017-0347

Muslih, M. (2019). THE COMMITTEE OF AUDIT ROLE ON THE STATE-OWNED ENTERPRISES ( BUMN ) PERFORMANCE OF INDONESIA REGISTERED ON THE STOCK EXCHANGE OF INDONESIA JEL Classification : M41 , M42. 1(2), 131–146.

Mutmainnah, N., & Wardhani, R. (2013). Analisis Dampak Kualitas Komite Audit Terhadap Kualitas Laporan Keuangan Perusahaan Dengan Kualitas Audit Sebagai Variabel Moderasi. Jurnal Akuntansi Dan Keuangan Indonesia, 10(2), 147–170. https://doi.org/10.21002/jaki.2013.08

Muttakin, B. M., & Ullah, S. M. (2012). Corporate Governance and Bank Perofmance from Balangdesh.

Nafiss, A. (2020). Kronologi Kasus Jiwasraya. CNN.Com, 1 Diakses 3 Juni 2021. https://www.cnnindonesia.com/ekonomi/20200108111414-78-463406/kronologi-kasus-jiwasraya-gagal-bayar-hingga-dugaan-korupsi

Naimah, Z., & Hamidah. (2016). The role of corporate governance. Fraud: The Counter Fraud Practitioner’s Handbook, 13003, 391–403. https://doi.org/10.1051/shsconf/20173413003

Nuryaman, N. (2009). Pengaruh Konsentrasi Kepemilikan, Ukuran Perusahaan, Dan Mekanisme Corporate Governance Terhadap Pengungkapan Sukarela. Jurnal Akuntansi Dan Keuangan Indonesia, 6(1), 89–116. https://doi.org/10.21002/jaki.2009.05

Olayinka, O. M. (2019). Audit Committee and Firms Performance in Nigeria: Case Study of selected Nigerian Banks. International Journal of Scientific and Research Publications (IJSRP), 9(9), p9315. https://doi.org/10.29322/ijsrp.9.09.2019.p9315

Pardanawati, S. L., Rukmini, R., & Fatyasin, M. L. N. (2020). Analisis Pengukuran Kinerja Perusahaan Dengan Konsep Kartu Skor Berimbang. Jurnal Akuntansi Dan Pajak, 21(01), 48–58. https://doi.org/10.29040/jap.v21i1.795

Pertiwi, D. E., & Husaini. (2017). Ukuran Komite Komite Audit Dan Penerapan Manajemen Risiko. Jurnal Fairness, 7(3), 169–180. https://doi.org/10.33369/fairness.v7i3.15180

Puni, A., & Anlesinya, A. (2020). Corporate governance mechanisms and firm performance in a developing country. International Journal of Law and Management, 62(2), 147–169. https://doi.org/10.1108/IJLMA-03-2019-0076

Qahatan, N., Basiruddin, R., Mohdali, R., Samuel, A. B., & Khlifa, H. (2020). Board-level competency and firm performance in the information age. International Journal of Innovation, Creativity and Change, 13(4), 1171–1189.

Rahman, M. M., Meah, M. R., & Chaudhory, N. U. (2019). The impact of audit characteristics on firm performance: An empirical study from an emerging economy. Journal of Asian Finance, Economics and Business, 6(1), 59–69. https://doi.org/10.13106/jafeb.2019.vol6.no1.59

Santos, J. B., & Brito, L. A. L. (2012). Toward a subjective measurement model for firm performance. BAR - Brazilian Administration Review, 9(SPL. ISS), 95–117. https://doi.org/10.1590/S1807-76922012000500007

Sayyar, H., Basiruddin, R., Rasid, S. Z. A., & Elhabib, M. A. (2015). The Impact of Audit Quality on Firm Performance: Evidence from Malaysia. Journal of Advanced Review on Scientific Research, 10(1), 2289–7887.

Setiawan, I. (2020). Bedah Kasus Gagal Bayar Dan Kerugian Pt. Asuransi Jiwasraya (Persero). Jurnal Akuntansi Dan Bisnis Indonesia (JABISI), 1(1), 34–41. https://doi.org/10.55122/jabisi.v1i1.38

Shan, Y. G., Troshani, I., & Tarca, A. (2019). Managerial ownership, audit firm size, and audit fees: Australian evidence. Journal of International Accounting, Auditing and Taxation, 35, 18–36. https://doi.org/10.1016/j.intaccaudtax.2019.05.002

Taras, V., Memili, E., Wang, Z., & Harms, H. (2018). Family involvement in publicly traded firms and firm performance: a meta-analysis. Management Research Review, 41(2), 225–251. https://doi.org/10.1108/MRR-05-2017-0150

Velte, P. (2017). The link between audit committees, corporate governance quality and firm performance: A literature review. Corporate Ownership and Control, 14(4), 15–31. https://doi.org/10.22495/cocv14i4art2

Vieira, E. S. (2018). Board of directors characteristics and performance in family firms and under the crisis. Corporate Governance (Bingley), 18(1), 119–142. https://doi.org/10.1108/CG-01-2017-0010

Wang, Y., Abbasi, K., Babajide, B., & Yekini, K. C. (2020). Corporate governance mechanisms and firm performance: evidence from the emerging market following the revised CG code. Corporate Governance (Bingley), 20(1), 158–174. https://doi.org/10.1108/CG-07-2018-0244

Widijaya, W., & Kristina, K. (2021). Dampak Tata Kelola Terhadap Efisiensi Modal Intelektual Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah MEA (Manajemen …, 5(3), 2130–2140. http://journal.stiemb.ac.id/index.php/mea/article/view/1637

Widijaya, W., & Peny, P. (2019). Tata kelola perusahaan dan pengaruhnya terhadap struktur modal. Jurnal Ekonomi Modernisasi, 1(3), 16–29. https://pdfs.semanticscholar.org/c7e9/652c29e7abc7301904871d24fc4827a11ba0.pdf




DOI: http://dx.doi.org/10.35906/jep.v8i2.1219

Article Metrics

Abstract view : 1224 times
PDF (Bahasa Indonesia) - 931 times

The Author Owns the Copyright of The Article Published in Jurnal Ekonomi Pembangunan STIE Muhammadiyah Palopo

Article Jurnal Ekonomi Pembangunan STIE Muhammadiyah Palopo been through a peer review process prior to publication. Journals, editors and editorial boards have the right or obligation to retract articles that contain inaccurate and misleading data if any. Read the Plagiarism Policy and Publication Ethics. Use of this site signifies your agreement to the Terms of Use.


This is an open access article distributed under the terms Creative Commons Attribution-ShareAlike 4.0 International License Creative Commons License.

Website Layout and Editing © 2016 Jurnal Ekonomi Pembangunan STIE Muhammadiyah Palopo on Lembaga Penerbitan dan Publikasi Ilmiah (LPPI) Universitas Muhammadiyah Palopo.