PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP KEBIJAKAN CASH HOLDINGS DENGAN KUALITAS LAPORAN KEUANGAN SEBAGAI MEDIATOR
DOI:
https://doi.org/10.25170/jara.v12i2.88Keywords:
corporate governance, cash holding, the quality of financial statements, non-finance companiesAbstract
This study aims to examine the effects of corporate governance on cash holding with the quality of financial statements as a mediator. Independent variables used in this study are managerial ownership, institutional ownership, board size, and an independent board of commissioners. The sample used in this research is 100 non-finance companies listed in Indonesia Stock Exchange (BEI) in the period 2014-2016 which is selected by using purposive sampling method. The data were tested using moderated regression analysis (MRA) with SPSS version 20. The results of the test in this study indicate that the quality of financial statements moderate the relationship between the ownership of the institution and the cash holding and the quality of the financial statements moderate the relationship between the independent commissioner and the cash holding, finance does not moderate the relationship between managerial ownership and cash holding and the quality of financial statements moderate the relationship between board size and cash holding.
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Yessica, T. C. & Erni, E. (2014). Excess cash holdings dan kepemilikan institusional pada perusahaan manufaktur yang terdaftar di BEI. Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan, 8(1), 1-10.
Adrian, S. (2011). Good corporate governance. Jakarta: Sinar Grafika.
Anggraeni, M. & Hasanah, N. (2015). The effect of stock return and ownership structure on investment risk in manufacturing companies listed on the Indonesian stock exchange (IDX) 2011-2013. The Indonesian Accounting Review, 5(2), 187-196.
Al-Najjar, B., & Clark, E. (2017). Corporate governance and cash holdings in MENA: Evidence from internal and external governance practices. Research in International Business and Finance, 39, 1-12.
Budiman, Johny, & Helena. (2017). Analisis pengaruh tata kelola perusahaan terhadap Struktur modal dengan kualitas laporan keuangan sebagai mediator pada perusahaan yang terdaftar di Bursa Efek Indonesia. Jurnal Managemen Maranatha, 16(2).
Brigham, E. F., & Houston, J. F. (2011). Dasar-dasar manajemen keuangan. Edisi 11. Buku 2. Jakarta: Salemba Empat.
Dewi, U., Ari, P., & Darsono, P., (2014). Manajemen keuangan. Jakarta: Mitra Wacana Media
Gitman, L.J., & Zutter, C.J. (2012). Principles of managerial finance. Global Edition, 13th edition. United State: Pearson.
Harmono. (2014). Manajemen keuangan berbasis balanced scorecard pendekatan teori, kasus, dan riset bisnis. Jakarta: PT Bumi Aksara
Imam, G. (2013). Aplikasi analisis multivariate dengan program IBM SPSS 21. Edisi 7. Semarang: Badan Penerbit Universitas Diponegoro.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics, 3(4), 305-360.
Jogiyanto. (2016). Metodologi penelitian bisnis: Salah kaprah dan pengalaman-pengalaman. Edisi ke-6. Yogyakarta: BPFE.
Lukas, S. A. (2008). Teori dan praktik manajemen keuangan. Yogyakarta: ANDI.
Masood, A., & Shah, A. (2014). Corporate governance and cash holdings in listed non-financial firms of Pakistan. Business Review, 9(2), 48-72.
Mohd, K. N. T., Latif, R. A., & Saleh, I., (2015). Institutional ownership and cash holding. Indian Journal of Science and Technology, 8(32), 1-6
Arief, Muh. & Effendi. (2009). The power of good corporate governance: Teori dan implementasi. Jakarta: Salemba Empat.
Myers, S. C., (1984). The capital structure puzzle. The Journal of Finance, 39(3), 574-592.
Otoritas Jasa Keuangan. (2014). Peraturan otoritas jasa keuangan nomor 33/PJOK 04/2014 tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik. Jakarta Otoritas Jasa Keuangan.
Ross, S.A., Westerfield, R.W., & Jordan, B. D. (2009). Pengantar keuangan perusahaan 2. Edisi 8. Jakarta: Salemba Empat
Sheikh, N. A., & Khan, M. I. (2015). The impact of board attributes and insider ownership on corporate cash holdings: Evidence from Pakistan. Pakistan Journal of Commerce and Social Sciences, 9(1), 52-68.
Ur Rehman, A., & Wang, M. (2015). Corporate cash holdings and adjustment behaviour in Chinese firms: An empirical analysis using generalized method of moments. Australasian Accounting Business & Finance Journal, 9(4). Pp 20-37
Wai Lee, K., & Few Lee, C. (2009). Cash holdings, corporate governance structure and firm valuation. Review of Pacific Basin Financial Markets and Policies, 12(03), 475-508.
Yessica, T. C. & Erni, E. (2014). Excess cash holdings dan kepemilikan institusional pada perusahaan manufaktur yang terdaftar di BEI. Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan, 8(1), 1-10.
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Published
2018-10-03
How to Cite
Rokhmania, N., & Murdiawati, D. (2018). PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP KEBIJAKAN CASH HOLDINGS DENGAN KUALITAS LAPORAN KEUANGAN SEBAGAI MEDIATOR. Jurnal Akuntansi, 12(2), 186–207. https://doi.org/10.25170/jara.v12i2.88
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