ANALISIS PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Periode 2005-2009)

Abstract

Large-scale corporate failures, financial scandals and crises in various countries, have focused attention on the importance of good corporate governance. Implementation of supervision that can be used to minimize irregularities in the management company can do with corporate governance mechanism that is expected to enhance firmvalue. One of the company's main objective is to enhance firm value through increased prosperity of the owners or shareholders. This research was conducted to examine the influence of managerial ownership variables, institutional ownership, board of size, the size of independent commissioners, and the size of the board of directors of the company proxy with PBV (Price Book Value). Samples are manufacturing companies whose shares are listed on the BEI period 2005- 2009 with a total of 20 companies using purposive sampling method. While the analytical methods used are classical assumption and hypothesis testing and regression analysis. The results showed that the independent variables and managerial ownership is not significantly positive influence on Price Book Value with a significance level of 0.587> 0.050, institutional ownership is not significantly positive influence on Price Book Value with a significance level of 0.991> 0.050, the size of the board of commissioners of Price Book Value has a significant positive with a significance level of 0.010 <0.050, size commissioner independent negative effect is not significant to Price Book Value with a significance level of 0.719> 0.050, and the size of the board of directors of Price Book Value has a significant positive with a significance level of 0.010 <0.050. The five variables influence for 53.8% of the firm value of the proxy Price Book Value.