PENGARUH STRUKTUR CORPORATE GOVERNANCE, AGENCYCOST DAN OPINI GOING CONCERN TERHADAP KONDISI FINANCIAL DISTRESS (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia)

Abstract

This research examine the influence of ownership structure, board independency, managerial agency cost, and going concern audit opinion on the financial distress condition in manufacturfirms listed on IDXduring 2004-2007. This research used data from annual report and ICMD manufactur firms listed on IDX during 2004-2007. Logit model is used to test the research problem on 61financially distressedfirms and their 61 paired samples. The result of this research showed that ownership structure, board independence, managerial ownership, going concern audit opinion and leverage don't have significant impact on the probability offirms experience financial distress, while liquidity and profit margin is negatively significant related with financial distress. Keywords: Corporate Governance, financial distress, ownership structure, board independence, agency cost, and going concern audit opinion.