Pengaruh Tata Kelola Perusahaan terhadap Kinerja Perusahaan dan Peran Faktor Pemoderasian

Bonifasius Bonifasius

Abstract


This research studied the relationship between good corporate governance (GCG) and the company’s performance. The previous studies on this topic revealed inconsistency in the relationship. In this research, GCG applies to agency theory and stewardship theory to measure the company’s performance in term of ROE and ROA. The objective of this research is to study the relationship among GCG, company’s performance and moderating of manager’s compensation and foreign ownership. Methodology used in this research is moderating regression analysis (MRA) while using 167 collected respondents to acknowledge GCG and company’s performance to test whether they have significant relationship in term of ROE-ROA or not. The results of this research indicate that GCG in Indonesia has not yet been considered necessary to evaluate the company’s performance. The company’s performance is measured in term of profitability. However, all managers should maintain relationship in harmony between principal, agent and the foreign ownership in order not to will trim down the agency cost.

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