ANALISIS PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP CASH HOLDINGS PERUSAHAAN (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun 2012-2015)

Abstract

This study examines the relationship between corporate governance mechanism and cash holdings. The analysis used corporate governance mechanism such as board of commission meeting, audit committee size, audit committee financial expertise, audit committee meeting, board of director remuneration and institutional ownership. Population of this research is the listed manufacture companies on Indonesian Stock Exchange for the year of 2012-2015. The selection of sample is conducted using purposive sampling method and give 320 observations as the result. In analyzing data, this study conduct classical assumption test, hypotheses test, and multiple regression analysis. The result shows that board of commission meeting, audit committee financial expertise and institutional ownership have negative significant effect on cash holdings. On the other side, board of director remuneration have positive significant effect on cash holdings. However, in this research, audit committee size, audit committee meeting show insignificant effects on cash holdings.