ABSTRAK
Penelitian ini bertujuan untuk menguji pengaruh Good Corporate Governance, ukuran perusahaan dan kebijakan pendanaan terhadap kinerja keuangan. Populasi dalam penelitian ini adalah seluruh perusahaan property dan real estate yang terdaftar di Bursa Efek Indonesia tahun 2009 hingga tahun 2013. Sampel dipilih menggunakan metode purposive sampling. Teknik pengujian data menggunakan analisis regresi berganda untuk menguji sejauh mana ketiga variabel independen secara bersama-sama mempengaruhi variabel dependen dengan tingkat signifikansi alpha 5%.
Hasil penelitian membuktikan bahwa Good Corporate Governance, ukuran perusahaan dan kebijakan pendanaan secara bersama-sama berpengaruh positif terhadap kinerja perusahaan sebesar 23.4%. Hasil uji signifikan parameter individual membuktikan bahwa dewan direksi dan dewan komisaris sebagai indikator Good Corporate Governance berpengaruh positif signifikan terhadap ROI sebagai indikator kinerja keuangan, total aset sebagai indikator ukuran perusahaan berpengaruh negatif tidak signifikan terhadap ROI, Debt to Equity Ratio (DER) dan Debt to Asset Ratio (DAR) sebagai indikator kebijakan pendanaan berpengaruh signifikan terhadap ROI sebagai indikator kinerja keuangan. DER berpengaruh negatif signifikan terhadap ROI, dan DAR berpengaruh positif signifikan terhadap ROI.
Kata kunci: dewan direksi, dewan komisaris, total asset, Debt to Equity Ratio
(DER), Debt to Asset Ratio (DAR), Return on Investment (ROI).
ABSTRAK
The research purpose to examine the effect of Good Corporate Governance, company size and financing policy on financial performance. The population of the research is all of property and real estate companies that listed on the Indonesian Stock Exchange from 2009 to 2013. The sample was selected using purposive sampling method. Technique test of data is by using multiple regression analysis to examine the effect of all independent variables on dependent variable by level of significant alpha 5%.
The research proves that Good Corporate Governance, company size and financing policy have an effect on positively significant to financial performance amounted at 23.4%. Individual parameter test result that board of directors and board of commissioners as an indicator of Good Corporate Governance have a significant positively effect on ROI as an indicator of financial performance, total assets as an indicator of firm size have a significant negatively effect on ROI, both of Debt to Equity Ratio (DER) and Debt to Asset Ratio (DAR) as an indicator of financing policy have significantly influence on ROI as an indicator of financial performance. DER have a significant negatively effect on ROI, and DAR significant positively effect on ROI.
Keywords: board of directors, board of commissioners, total assets, Debt to Equity Ratio (DER), Debt to Asset Ratio (DAR), Return on Investment (ROI).