PENGARUH STRUKTUR TATA KELOLA, STRUKTUR KEPEMILIKAN, DAN CASH HOLDINGS TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Perusahaan Keuangan yang Terdaftar BEI tahun 2016-2017)

Abstract

This study aims to examine the impact of the influence of governance structures, ownership structures, and cash holdings on the value of companies in Indonesia. The corporate governance structure is measured by two proxies, namely the size of directors and the board of commissioners. The independent variables used in this study are the governance structure, ownership structure, and cash holdings while the dependent variable in this study is the value of the company. The control variables in the study are dividends, leverage, and company age. The sample used in this study was selected by a purposive sampling method on financial companies listed on the Indonesia Stock Exchange in 2016-2017. The final sample obtained was 118 samples from 91 companies. Hypothesis testing is performed using multiple regression analysis. The result of statistical test show that the structure of corporate governance measured by the of directors significantly influence the value of the company, the corporate governance structure measured using the board of commissioners does not significantly influence the value of the company, managerial ownership has a significant effect on the value of the company, and cash holdings have a significant effect to the value of the company.