PENGARUH STRUKTUR KEPEMILIKAN TERHADAP EFISIENSI INVESTASI (STUDI EMPIRIS PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BEI TAHUN 2015-2017)

Abstract

The purpose of this research is to examine whether ownership structure and corporate governance influences investment efficiency of listed non financial firms in Indonesia. The independent variables used in the research are ownership concentration, managerial ownership, management stock option, and mutual funds ownership. Meanwhile, the dependent variable in the research is investment efficiency. This research uses regression analysis method with secondary data obtained based on a sampling method, and that is purposive sampling method. Research data is secondary data from financial statements and annual reports of non financial firms that are listed on the Indonesia Stock Exchange in 2015-2017. The result of this research indicates that ownership concentration does not have a significant influence towards investment efficiency. The result also indicates that there is a positive influence between managerial ownership and investment efficiency, and there is a positive influence between management stock option and investment efficiency. Furthermore, mutual funds ownership is proven to have a positive influence towards investment efficiency.