PENGARUH KARAKTERISTIK PERUSAHAAN DAN MEKANISME CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN KUALITAS SUSTAINABILITY REPORT SEBAGAI VARIABEL INTERVENING (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2015 – 2017)

PREMAVARI, YOHANA (2020) PENGARUH KARAKTERISTIK PERUSAHAAN DAN MEKANISME CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN KUALITAS SUSTAINABILITY REPORT SEBAGAI VARIABEL INTERVENING (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2015 – 2017). S2 thesis, Universitas Mercu Buana Jakarta.

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Abstract

This study aims to examine and analyze the effect of company characteristics and corporate governance mechanisms on firm value with quality sustainability report as an intervening variable (empirical study of manufacturing companies listed on the Indonesia Stock Exchange for the period 2015 - 2017). Sampling is done by purposive sampling. The analysis method used is path analysis. The results of the research in the direct effect test show that company characteristics which are proxied by company size has a significant positive effect on the quality of sustainability report and a significant negative effect on firm value. While company growth has no effect on the quality of sustainability report and firm value. Furthermore, corporate governance mechanisms that are proxied by institutional ownership, the frequency of committee meetings audits, and remuneration of directors have a significant positive effect on the quality of sustainability reports. Institutional ownership and remuneration have a significant positive effect on firm value. The frequency of audit committee meetings has a significant negative effect on firm value. The quality of sustainability reports can mediate company size, institutional ownership, frequency of audit committee meetings, and remuneration of directors to firm value. The quality of sustainability report cannot mediate the company's growth to the firm's value. Keywords: institutional ownership, frequency of audit committee meetings, company size, company growth, remuneration, sustainability report, Firm value. Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh karakteristik perusahaan dan mekanisme corporate governance terhadap nilai perusahaan dengan kualitas sustainability report sebagai variabel intervening (studi empiris pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2015 – 2017). Pengambilan sampel dilakukan dengan purposive sampling. Metode analisa yang digunakan adalah analisa jalur (path analysis). Hasil penelitian dalam uji pengaruh langsung menunjukan karakteristik perusahaan yang diproksikan dengan ukuran perusahaan berpengaruh positif signifikan terhadap kualitas sustainability report dan berpengaruh negatif signifikan terhadap nilai perusahaan. Sedangkan pertumbuhan perusahaan tidak berpengaruh terhadap terhadap kualitas sustainability report maupun nilai perusahaan. Selanjutnya mekanisme corporate governance yang diproksikan dengan kepemilikan institusional, frekuensi rapat komite, audit, dan remunerasi direksi berpengaruh positif signifikan terhadap kualitas sustainability report. kepemilikan institusional dan remunerasi berpengaruh positif signifikan terhadap nilai perusahaan. Frekuensi rapat komite audit berpengaruh negatif signifikan terhadap nilai perusahaan. Kualitas sustainability report dapat memediasi ukuran perusahaan, kepemilikan institusional, frekuensi rapat komite audit, dan remunerasi direksi terhadap nilai perusahaan. Kualitas sustainability report tidak dapat memediasi pertumbuhan perusahaan terhadap nilai perusahaan. Kata kunci: kepemilikan institusional, frekuensi rapat komite audit, ukuran perusahaan, pertumbuhan perusahaan, remunerasi, sustainability report, nilai perusahaan.

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