Influence of Independent Commissioners and Audit Committee on the Performance of State-Owned Enterprises in Indonesia Moderated by Dual Positions of the Commissioner

Dwi Setyo Aji, Lenggogeni Lenggogeni

Abstract


This study aims to examine the effect of the Independent Board of Commissioners and the Audit Committee on the Performance of State-Owned Enterprises in Indonesia. This study also examines the effect of concurrent positions of commissioners as a moderating variable which is thought to have an effect on the performance of state-owned enterprises. The dual position of the Commissioner is suspected to affect the role of the independent variable on the dependent variable. The Financial Performance of State-Owned Enterprises is proxied using Return on Assets (RoA), the Independent Board of Commissioners uses a proxy for the number of independent commissioners in the company, and the Audit Committee uses a proxy for the number of audit committee members in a company. The sample of this research is 20 State-Owned Enterprises that are listed on the Indonesia Stock Exchange (IDX) during the period 2016 to 2019, so that a total of 80 research samples are obtained. The analytical method used to test the hypothesis in this study is moderated regression analysis (MRA) and uses statistical tools in the form of the Eviews version 12 application. The results of this study indicate that the independent board of commissioners variable has no effect on the performance of State-Owned Enterprises, the Audit Committee variable has an effect on the Performance of State-Owned Enterprises, and Concurrent Positions of Commissioners have no effect and do not moderate the influence of independent commissioners and audit committees on the financial performance of State-Owned Enterprises.


Keywords


independent commissioner; audit committee; financial performance; BUMN; multiple

Full Text:

PDF

References


Avianti, I. (2017). Privatisasi BUMN dan Penegakan Good Corporate Governance dan Kinerja BUMN.

Bhat, K. U., Chen, Y., Jebran, K., & Bhutto, N. A. (2018). Corporate governance and firm value: a comparative analysis of state and non-state owned companies in the context of Pakistan. Corporate Governance: The international journal of business in society.

Brigham, E. F., & Houston, J. F. (2006). Fundamentals of Financial Management: Dasar-Dasar Manajemen Keuangan.

Eforis, C. (2017). Pengaruh Kepemilikan Negara Dan Kepemilikan Publik Terhadap Kinerja Keuangan BUMN. Ultimaccounting: Jurnal Ilmu Akuntansi, 9(1), 18-31.

Fadillah, A. R. (2017). Analisis pengaruh dewan komisaris independen, kepemilikan manajerial dan kepemilikan institusional terhadap kinerja perusahaan yang terdaftar di LQ45. Jurnal Akuntansi, 12(1), 37-52.

Intia, L. C., & Azizah, S. N. (2021). Pengaruh Dewan Direksi, Dewan Komisaris Independen, dan Dewan Pengawas Syariah terhadap Kinerja Keuangan Perbankan Syariah di Indonesia. Jurnal Riset Keuangan dan Akuntansi, 7(2).

Jabatan, R. Pengaturan Pegawai Negeri Sipil yang Merangkap Jabatan sebagai Komisaris Badan Usaha Milik Negara.

Nuresa, A., & Hadiprajitno, B. (2013). Pengaruh efektivitas komite audit terhadap financial distress. Diponegoro Journal Of Accounting, 835-844.

Pratiwi, R. S. (2019). Legalitas Rangkap Jabatan Direksi Dan Dewan Komisaris Pada Badan Usaha Milik Negara Yang Berbentuk Perseroan Terbatas. Lex Renaissance, 4(2), 266-284.

Prayanthi, I., & Laurens, C. N. (2020). Pengaruh Dewan Direksi, Komisaris Independen, Dan Komite Audit Terhadap Kinerja Keuangan Pada Sektor Makanan Dan Minuman. Klabat Journal of Management, 1(1), 66-89.

Prihandoko, N. D. (2018). Pengaruh Rangkap Jabatan (Interlocking Directorate) dan Proporsi Dewan Komisaris Independen Terhadap Kinerja Perusahaan dan Kinerja Pasar pada Perusahaan Manufaktur di Bursa Efek Indonesia (Doctoral dissertation, STIE YKPN).

Purba, K., Sudibjo, K. (2020). The Effects Analysis of Transformational Leadership, Work Motivation and Compensation on Employee Performance in PT. Sago Nauli. Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Volume 3, No 3, Page: 1606-1617

Rahmawati, I. A., Rikumahu, B., & Dillak, V. J. (2017). Pengaruh dewan direksi, dewan komisaris, komite audit dan Corporate social responsibility Terhadap kinerja keuangan perusahaan. Jurnal Akuntansi Dan Ekonomi, 2(2), 54-70.

Ratna, D. H. (2019). Pengaruh Komisaris Independen, Dewan Direksi, dan Komite Audit Terhadap Kinerja Keuangan (Doctoral dissertation, STIE Perbanas Surabaya).

Riahi‐Belkaoui, A. (2003). Intellectual capital and firm performance of US multinational firms: A study of the resource‐based and stakeholder views. Journal of Intellectual capital.

Saputra, E. (2021). Tinjauan Fiqh Siyasah terhadap rangkap jabatan TNI dan Polri sebagai komisaris di Badan Usaha Milik Negara Berdasarkan UU Nomor 19 Tahun 2003 Tentang BUMN (Doctoral dissertation, UIN Sunan Ampel Surabaya).

Sarafina, S., & Saifi, M. (2017). Pengaruh good corporate governance terhadap kinerja keuangan dan nilai perusahaan (Studi pada Badan Usaha Milik Negara (BUMN) yang terdaftar di Bursa Efek Indonesia periode 2012-2015). Jurnal Administrasi Bisnis, 50(3), 108-117.

Sjahrial, R., Priharta, A., Parewangi, A. M. A., & Hermiyetti, H. (2014, July). Modeling Financial Distress: The Case of Indonesian Banking Industry. In EcoMod Conference Proceedings.

Vafeas, N. (2005). Audit committees, boards, and the quality of reported earnings. Contemporary accounting research, 22(4), 1093-1122.

Wahyudi, A. (2020). Problematika Rangkap Jabatan ASN, TNI, dan Polri Menjadi Komisaris di BUMN (Doctoral dissertation, Universitas Islam Negeri Alauddin Makassar).

Wernerfelt, B. (1984). A resource‐based view of the firm. Strategic management journal, 5(2), 171-180.

Widarjo, W. (2011). Pengaruh modal intelektual dan pengungkapan modal intelektual pada nilai perusahaan yang melakukan Initial Public Offering. Jurnal Akuntansi dan Keuangan Indonesia, 8(2), 157-170.

Widyati, M. F. (2013). Pengaruh dewan direksi, komisaris independen, komite audit, kepemilikan manajerial dan kepemilikan institusional terhadap kinerja keuangan. Jurnal ilmu manajemen, 1(1), 234-249.




DOI: https://doi.org/10.33258/birci.v5i2.5539

Article Metrics

Abstract view : 53 times
PDF - 13 times

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

 

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.