Pengujian Efektifitas Mekanisme Corporate Governance terhadap Kualitas Pengungkapan: Studi pada Perusahaan Terkonsentrasi di Indonesia

Authors

  • Hardini Ariningrum Universitas Malahayati, Lampung, Indonesia
  • Miswan Gumanti Institut Bakti Nusantara, Lampung, Indonesia
  • Kasmi Kasmi Institut Bakti Nusantara, Lampung, Indonesia
  • Muhammad Faris Afif Universitas Muhammadiyah Palembang, Indonesia

DOI:

https://doi.org/10.32493/jiaup.v13i1.46861

Keywords:

Disclosure Quality, Corporate Governance, Concentrated Ownership, Type II Agency Conflict

Abstract

This study aims to examine the Corporate Governance (CG) mechanism or corporate governance on the quality of disclosure on the characteristics of companies with highly concentrated ownership with low investor protection.CG is proxied by several Corporate Governance mechanisms and disclosure quality as measured by the Disclosure Index. The sample of this study is a concentrated manufacturing company that has a majority shareholder. The analysis method uses the Multiple Regression Analysis (MRA) statistical test with the results of the study proving that the Corporate Governance mechanism, namely the size of the board of directors, the size of the board of commissioners, independent commissioners, and institutional ownership are significant and positive on the quality of disclosure. However, evidence shows that ownership concentration has a negative effect on the quality of disclosure under highly concentrated ownership. This evidence suggests that the effectiveness of CG mechanisms needs to be part of regulations to protect investor rights and for standard setters and regulators to improve the quality of disclosure as an important way to reduce agency conflicts and increase accountability and transparency.

 

ABSTRAK

 Penelitian ini bertujuan untuk menguji mekanisme Corporate Governance (CG) atau tata kelola perusahaan terhadap kualiatas pengungkapan (disclosure quality) pada karakteristik perusahaan dengan kepemilikan yang sangat terkonsentrasi  dengan rendahnya perlindungan investor. CG diproksikan oleh  beberapa mekanisme Corporate Governance dan kualitas pengungkapan yang diukur dengan Indeks Pengungkapan. Sampel penelitian ini adalah perusahaan manufaktur terkonsentrasi yang memiliki pemegang saham mayoritas. Metode analisis menggunakan uji statistik Multiple Regression Analysis (MRA) dengan hasil penelitian  membuktikan bahwa mekanisme Corporate Governance yaitu ukuran dewan direksi, ukuran dewan komisaris, komisaris independen, dan kepemilikan institusional  signifikan dan positif terhadap kualitas pengungkapan. Namun, bukti menunjukkan bahwa konsentrasi kepemilikan memiliki pengaruh negatif terhadap kualitas pengungkapan di bawah kepemilikan yang sangat terkonsentrasi. Bukti ini menunjukkan bahwa efektivitas mekanisme CG perlu untuk menjadi bagian regulasi untuk melindungi hak investor dan  bagi pembuat standar dan regulator untuk meningkatkan kualitas pengungkapan sebagai cara penting untuk mengurangi konflik keagenan dan meningkatkan akuntabilitas dan transparansi.

Kata Kunci: Corporate Governance, Kualitas pengungkapan, Kepemilikan Terkonsentrasi, Konflik Agensi Tipe II

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2025-01-31

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