Peran Karakteristik Perusahaan dan Corporate Governance dalam Keputusan Pendanaan Perusahaan Pertambangan

Yulianto, Agung

Jurnal Kajian Akuntansi
Vol 1 No 1 (2017): JUNI 2017

Abstract The funding decision represents important things that need to be considered by a manager when specify the portion of the company's capital structure that comes from internal funding sources as well as external funding sources. Therefore, this study aims to test empirically the influence the characteristics of the company that are measured by tangibility and profitability as well as the mechanisms of corporate governance that are measured by the board of directors and the independent commissioners in the determination of the company's capital structure. This research is based on the Pecking Order Theory that examines the hierarchy of corporate funding. This research was conducted on the mining company listings in BEI 2012-2015 year period with as many as 138 companies sample. Data analysis in this study using multiple regression analysis that was previously tested with classical assumptions. Hypothesis testing is done through t-Test. The results showed that tangibility, profitability, the board of directors and the independent commissioners have no effect on the decision of the company's funding.Keywords: Leverage; Tangibility; Profitability; Board of directors; Independent. commissioner.AbstrakKeputusan pendanaan merupakan hal penting yang perlu dipertimbangkan oleh manajer saat mengelola struktur pendanaan perusahaan yang berasal dari sumber pendanaan internal maupun sumber pendanaan eksternal. Oleh karena itu, penelitian ini dilakukan untuk menganalisis pengaruh karakteristik perusahaan yang diukur oleh tangibility dan profitabilitas serta mekanisme corporate governance yang diukur oleh dewan direksi dan komisaris independen dalam penentuan struktur permodalan perusahaan. Penelitian ini dilakukan pada perusahaan pertambangan yang go public di Indonesia tahun 2012-2015 dengan sampel sebanyak 138 perusahaan. Analisis data dalam penelitian ini menggunakan analisis regresi berganda yang sebelumnya diuji dengan asumsi klasik. Uji hipotesis dilakukan melalui Uji t. Hasil penelitian menunjukkan bahwa tangibility, profitabilitas, dewan direksi dan komisaris independen tidak berpengaruh terhadap keputusan pendanaan perusahaan. Kata kunci: Tangibility, Profitabilitas, Dewan Direksi, Komisaris Independen.