PENGARUH CORPORATE GOVERNANCE TERHADAP FINANCIAL DISTRESS
DOI:
https://doi.org/10.29080/jai.v11i02.2170Keywords:
Corporate Governance, Financial Distress, Ownership Concentration, Board Size, LeverageAbstract
Penelitian ini bertujuan untuk mengetahui pengaruh corporate governance terhadap financial distress. Penelitian ini menggunakan metode kuantitatif dan diuji dengan regresi linear berganda. Corporate governance dihitung menggunakan mekanisme internal dalam bentuk ownership concentration dan board size, dan mekanisme eksternal dalam bentuk leverage. Financial distress dihitung menggunakan rumus Altman Z-Score untuk menentukan risiko. Objek dari penelitian ini adalah perusahaan sektor akomodasi dan makan minum yang terdaftar di Bursa Efek Indonesia (BEI) pada periode tahun 2020-2023. Sampel yang digunakan dalam penelitian ini adalah 83 perusahaan. Hasil penelitian menunjukkan ownership concentration memiliki pengaruh signifikan dalam meningkatkan risiko financial distress, board size tidak memiliki pengaruh signifikan terhadap financial distress, dan leverage memiliki pengaruh signifikan dalam meningkatkan risiko financial distress. Kesimpulan dari penelitian ini adalah mekanisme corporate governance yang digunakan perusahaan memiliki pengaruh dalam meningkatkan maupun menurunkan risiko financial distress perusahaan, akan tetapi hasil penelitian ini perlu diinterpretasikan dengan hati-hati akibat masalah heteroskedastisitas dan bagaimana pengukuran variabel yang berbeda dapat menghasilkan kesimpulan berbeda.
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