PENGARUH CORPORATE GOVERNANCE TERHADAP KINERJA PASAR PERUSAHAAN DENGAN VARIABEL INTERVENING PENGUNGKAPAN INFORMASI TERKAIT KARYAWAN (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2014)

Abstract

The objective of this study is to analyze the influence of corporate governance on the corportare’s market performance by intervening variables employees related information disclosure in manufacturing companies. This research uses independent directors, audit committee, and remuneration in measuring corporate governance. The corporate’s market performance is measured by Tobins'Q. The population in this study consist of all manufacturing companies listed in Indonesia Stock Exchange (BEI) in the year 2012-2014. Sampling method in this research is purposive sampling. A total sample of 55 companies were used in this analysis. The data is analyzed using analysis of partial least square (PLS). The empirical results of this study show that the variable remuneration has positive and significant effect on employees related information disclosure. While other variables such as independent directors and audit committee had no significant effect on the disclosure of information related to the employee. Furthermore, this study showed that the variables of the audit committee and the employees related information disclosure has positive and significant effect on market performance, and employees related information disclosure variables may mediate the relationship variable remuneration with market performance.