Pengaruh Tata Kelola Dan Siklus Konversi Kas Terhadap Kinerja Keuangan Perusahaan Di Indonesia

Windy Yungnata, Mariana Ing Malelak

Abstract


Penelitian ini bertujuan untuk meneliti pengaruh tata kelola perusahaan dan siklus konversi kas terhadap kinerja keuangan perusahaan. Tata kelola perusahaan akan berfokus pada remunerasi direksi dan kepemilikan manajerial. Kinerja keuangan akan diukur menggunakan Tobin’s Q. Sampel yang digunakan yaitu 14 perusahaan Badan Usaha Milik Negara non-jasa yang terdaftar di BEI selama periode 2016-2020. Data sekunder didapatkan dari laporan tahunan perusahaan dan bloomberg serta diolah dengan regresi data panel Eviews 12. Hasil dari penelitian ini menunjukkan bahwa tata kelola perusahaan yang terdiri dari remunerasi direksi dan kepemilikan manajerial berpengaruh negatif signifikan terhadap kinerja keuangan perusahaan. Sedangkan siklus konversi kas tidak berpengaruh signifikan terhadap kinerja keuangan perusahaan.

This study aimed to know the influence of corporate governance and cash conversion cycle on financial performance. Corporate governance will be focused on directors’ remuneration and managerial ownership. Financial performance measured by Tobin’s Q. The sample consisted of 14 BUMN non-service companies listed on BEI during the period of 2016- 2020. Secondary data collected from annual reports dan Bloomberg, then analyzed by using panel data regression Eviews 12. The result showed that corporate governance that consisted with director’s remuneration and managerial ownership had a negative significant effect on financial performance. Meanwhile, cash conversion cycle did not significantly influence financial performance.


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