PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP STRUKTUR MODAL PERUSAHAAN (Studi Empiris pada Perusahaan Nonkeuangan yang Terdaftar di Bursa Efek Indonesia Tahun 2013-2014)

Abstract

This study aims to examine the influence between components in the corporate governance consisting the board of commissioner size, institutional ownership, quality of external auditor, frequency of commissioner’s meetings and frequency of audit committee’s meetings against capital structure.. This study also uses three control variables such as growth opportunity, profitability, and firm size. This study was a replication with a modification from the research of Hussainey and Aljifri (2012) examining the corporate governance against capital structure proxied by debt-to-equity ratio. This study uses the time span during 2013-2014. This study using purposive sampling method as a method of sample selection. Data obtained from annual reports and financial statements non-financial companies listed on the Indonesian Stock Exchange. The number of samples obtained from these criteria amounted to 269 companies. Analysis of data using multiple regression analysis. The results of this research indicate that board of commissioner size, institutional ownership and frequency of commissioner’s meeting are significantly negative related to capital structure . While other variables such as quality of external auditor and frequency of audit committee’s meeting are not significantly effected . This research also uses the control variable and the result growth opportunity is significantly negative effected to capital structure and firm size is significantly positive effected to capital structure . While another control variables such as profitability are not significantly effected.