Pengaruh Kualitas Corporate Governance, Kepemilikan Institusi Terhadap Kinerja dan Nilai Perusahaan

Abstract

This study examines the effect of the quality of corporate governance and institutional ownership on performance and value of the firms. This study is based on 100 sample of companies included in the ranking Corporate Gavernance Perception Index (CGPI) years 2008-2012. The data is collected from Indonesian Capital Market Directory (ICMD), annual report and yahoo finance. The method analysis use multiple regression. The result showst the quality of corporate governance and institutional ownership affects firm performance. The results of this study support the hypothesis monitoring. Companies with better corporate governance have better corporate performance and institutional investors capable of acting as a fiduciary. When associated with value of the firm, both these variables have no significant effect. These results indicated that the effect of the quality of corporate governance on corporate performance is not something universally acceptable. In addition, these findings support the hypothesis of strategic alignment and conflict hyphothesis interest. Because institution ownership belongs to the family then has a tendency to compromise and reduce conflicts with management, resulting in less impact on the market.