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All Journal Jurnal Manajemen Terapan dan Keuangan Ekonomi Bisnis Media Ekonomi dan Manajemen Asia-Pacific Management and Business Application Hasanuddin Economics and Business Review Jurnal Riset Manajemen dan Bisnis (JRMB) Fakultas Ekonomi UNIAT JRMSI - Jurnal Riset Manajemen Sains Indonesia Jesya (Jurnal Ekonomi dan Ekonomi Syariah) MABIS: Manajemen dan Bisnis Revitalisasi : Jurnal Ilmu Manajemen RESLAJ: RELIGION EDUCATION SOCIAL LAA ROIBA JOURNAL Formosa Journal of Multidisciplinary Research (FJMR) Studi Akuntansi, Keuangan, dan Manajemen Formosa Journal of Applied Sciences (FJAS) Jurnal Dehasen Untuk Negeri Multifinance Student Journal of Business and Management (SJBM) Management Analysis Journal Jurnal Akuntansi
Zoraya, Intan
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Journal : Formosa Journal of Multidisciplinary Research (FJMR)

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Corporate Governance and Financial Distress: Empirical Evidence of Energy Sector Companies on the Indonesia Stock Exchange Debora, Dea Niken; Zoraya, Intan
Formosa Journal of Multidisciplinary Research Vol. 4 No. 1 (2025): January 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjmr.v4i1.12679

Abstract

The present paper is an empirical analysis of the impact of corporate governance on financial distress in companies listed on the Indonesia Stock Exchange (IDX) over the period from 2016 to 2023. Financial distress is measured by the Altman Z-score model. Variables of corporate governance include institutional ownership, managerial ownership, the ratio of independent commissioners, and board size. The sample consisted of 107 companies. Multiple linear regression was used to analyze the data. The results proved that institutional ownership and managerial ownership do not significantly affect financial distress. On the other hand, it was found that independent commissioners and board size have a considerable negative impact to, while the board of commissioners has a positive impact. Among the control variables, Leverage is negatively significant, whereas firm size is highly significant.
Co-Authors Apriansyah, Syahrud Arriqoh, Dhiyyah Aziz, Dwi Abdul Berto Usman, Berto Chairil Afandy Debora, Dea Niken Dewi Rahmayanti Elvionita, Melinia Fitranita, Vika Fitri Santi Harahap, Ridha Anggita Kamaludin Kamaludin Kananlua, Paulus Suluk Kurnia, Nisa Lupita, Reska Maulana, Risqi Murni, Trisna Norma Hayati, Norma Perkasa, Adam Putra Permata, Yoeni Reza Putra, Mukti Trio Putri, Lydia Gustina Refianti, Refianti Ridwan Nurazi, Ridwan Saputra, Aseng Saputra, Fachri Eka Siregar, Nella Astria Syamsul Bahri Wiardi, Akram Harmoni Widanti, Afrima Wijayanti, Indah Oktari Willy Abdillah