Commissioner Board Monitoring to Create Firm Performance through Environmentally Friendly Management

Utomo, Mohamad Nur; Wahyudi, Sugeng; Muharam, Harjum; Sianturi, Jeudi Agustina Taman Parulian

doi:10.14505//jemt.9.3(27).26

Cited by 7 publications

(9 citation statements)

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“…The existence of independent commissioners in the company can affect the company's cost of debt (Chen et al 2009). Independent Commissioners and Independent Directors are managers tasked with contributing more to obtaining access to loans from outside the company because independent commissioners and independent directors are parties from outside the company who have no direct or indirect relationship with company owners or company shareholders (Utomo et al 2018). An independent commissioner who is also a representative of the company's minority shareholders and the audit committee is in charge of monitoring the directors' performance, while an independent director is in charge of monitoring the work of the executive board and minimizing conflicts of interest between the managers and company owners (Tanjung 2020).…”

Section: Prior Studiesmentioning

confidence: 99%

Politically Connected Independent Commissioners and Independent Directors on the Cost of Debt

Junus

Harymawan

Nasih

et al. 2022

IJFS

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This study examines the relationship between politically connected independent commissioners and independent directors regarding the cost of debt. The sample is all companies listed on the Indonesia Stock Exchange for the 2010–2017 period, totaling 327 companies with a total data value of 1722 firm-year observations. We used the ordinary least squares regression model (OLS) and the Heckman 2SLS method to solve the endogeneity problem. We found that politically connected independent commissioners and politically connected independent directors negatively correlate with the cost of debt. These results indicate the importance of politically connected independent commissioners and independent directors in managing companies, especially in obtaining loans with low interest rates. In addition, our results are robust due to the use of the Heckman 2SLS test. Therefore, this research can contribute to the development of the literature related to corporate governance and political connections in public companies, so that politically connected independent commissioners and independent directors have an essential role in decision-making in companies.

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Section: Prior Studiesmentioning

confidence: 99%

Politically Connected Independent Commissioners and Independent Directors on the Cost of Debt

Junus

Harymawan

Nasih

et al. 2022

IJFS

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“…Selain itu mekanisme corporate governance yang terdiri dari dewan komisaris dan komite audit secara positif berpengaruh terhadap nilai perusahaan. Penelitian lainnya yang mendukung studi sebelum dilakukan oleh Utomo et al, (2018) dengan menggunakan teknik analisis Structural Equation Modeling (SEM) membuktikan bahwa peran pengewasan dewan komisaris independen berdampak positif terhadap nilai perusahaan.…”

Section: Jurnal Manajemenunclassified

“…Hasil penelitian ini tidak sejalan dengan teori agensi yang menyatakan bahwa fungsi pengendalian yang dilakukan oleh dewan komisaris independen dapat meningkatkan nilai perusahaan. Hasil penelitian ini juga tidak mendukung penelitian terdahulu oleh Siallagan & Machfoedz, (2006), Tambunan et al, (2017), dan Utomo et al, (2018) yang menyimpulkan semakin tinggi dewan komisaris independen semakin dapat meningkatkan nilai perusahaan. Penelitian ini lebih sejalan dengan penelitian yang dilakukan oleh Wedayanthi & Darmayanti, (2016) yang menemukan terdapat pengaruh negatif dan tidak signifikan dari dewan komisaris independen terhadap nilai perusahaan.…”

Section: Pengaruh Dewan Komisaris Independen Terhadap Nilai Perusahaanunclassified

Efek Mekanisme Good Corporate Governance dan Kinerja Keuangan terhadap Nilai Perusahaan

Utomo

Ariska²

2021

Self Cite

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This study aims to examine the effects of institutional ownership, independent board of commissioners, profitability and liquidity on firm value. Goods and consumer manufacturing companies listed on the Indonesia Stock Exchange were sampled in this study with the period 2015 to 2019. Data analysis used statistical methods. The results showed that Institutional Ownership and Profitability had a positive and significant effect on firm value. Meanwhile, the independent board of commissioners has a negative and insignificant effect on firm value, liquidity has a positive and insignificant effect. This study implies that increased monitoring of institutional shareholders and increased performance is an effective way to increase firm value. In addition, the company must continue to improve the supervisory role of the independent board of commissioners and maintain the level of liquidity in order to have a long-term advantage.

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“…Berdasarkan agency theory, komisaris independen sebagai penghubung antara pihak pemilik perusahaan (principal) dan manajer (agent) tidak melaksanakan tugasnya dengan baik dalam menjembatani pihak principal dan agent sehingga tidak memberikan pengaruh terhadap nilai perusahaan. Hasil penelitian ini mendukung hasil penelitian yang telah dilakukan oleh Rusli, Nainggolan, & Pangestu (2020), namun hasil penelitian ini tidak sejalan dengan hasil penelitian yang dilakukan oleh Dewi, Rasmini, & Ratnadi (2019), Utomo et al(2018), Handayani et al (2020).…”

Section: Diskusiunclassified

“…Maryanti dan Fithri (2017);Setiadi et al (2017);Utomo et al(2018);Handayani et al (2020) berdasarkan penelitiannya menunjukkan bahwa independent board of commissioners memberikan pengaruh yang positif dan signifikan terhadap firm value. Sehingga semakin besar komposisi komisaris independen maka semakin besar nilai perusahaan tersebut.Berdasarkan kerangka pemikiran tersebut, maka peningkatan liquidity akan menurunkan firm value, peningkatan profitability akan meningkatkan firm value, peningkatan free cash flow akan meningkatkan firm value, dan peningkatan independent board of commissioners akan meningkatkan firm value, sehingga model kerangka pemikiran pada penelitian ini adalah sebagai berikut: Dengan demikian, berdasarkan kerangka pemikiran, hipotesis pada penelitian ini dirumuskan sebagai berikut:1.…”

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Dampak Rasio Keuangan Dan Good Corporate Governance Terhadap Nilai Perusahaan

Apriana

Ruslim

2021

JMK

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This study aims to examine the effect of financial ratios (liquidity, profitability, and free cash flow) and good corporate governance (independent board of commissioners) on firm value by using time-series data of property and real estate companies listed in Indonesia Stock Exchange in the period of 2015-2019. The samples of this study were 33 firms (165 observations). The method used in this study is multiple panel data regression analysis using E-Views 10.0 software. Firm value is measured by Tobin’s Q, liquidity is measured by current ratio, profitability is measured by return on equity, free cash flow is measured by free cash flow ratio, and independent board of commissioners is measured by independent commissioners ratio. The results show that liquidity and free cash flow significantly influence firm value, but profitability and independent board of commissioners do not have any significant influence on firm value. Penelitian ini bertujuan untuk menguji pengaruh rasio keuangan (liquidity, profitability, dan free cash flow) dan good corporate governance (independent board of commissioners) terhadap firm value dengan menggunakan data time-series pada perusahaan property dan real estate yang terdaftar di BEI periode 2015-2019. Sampel pada penelitian ini berjumlah 33 perusahaan (165 observasi). Metode yang digunakan dalam penelitian ini adalah panel data regression analysis menggunakan software E-Views 10.0. Firm Value diukur menggunakan Tobin’s Q, liquidity diukur menggunakan current ratio, profitability diukur menggunakan return on equity, free cash flow diukur menggunakan free cash flow ratio, dan independent board of commissioners diukur menggunakan independent commissioners ratio. Hasil penelitian menunjukkan bahwa liquidity dan free cash flow berpengaruh signifikan terhadap nilai perusahaan, tetapi profitability dan independent board of commissioners tidak berpengaruh signifikan terhadap firm value.

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Commissioner Board Monitoring to Create Firm Performance through Environmentally Friendly Management

Cited by 7 publications

References 0 publications

Politically Connected Independent Commissioners and Independent Directors on the Cost of Debt

Politically Connected Independent Commissioners and Independent Directors on the Cost of Debt

Efek Mekanisme Good Corporate Governance dan Kinerja Keuangan terhadap Nilai Perusahaan

Dampak Rasio Keuangan Dan Good Corporate Governance Terhadap Nilai Perusahaan

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