PENGARUH GOOD CORPORATE GOVERNANCE DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN LQ 45

Abstract

This research is aimed to examine the influence of good corporate governance and dividend policy to the
firm value through the annual financial statements which have been prepared by the LQ-45 companies which are
listed in Indonesia Stock Exchange. The good corporate governance mechanism is proxy by managerial
ownership, institutional ownership, independent commissioner and audit commitee. The population has been
obtained by using purposive sampling method to the LQ-45 companies which are listed in Indonesia Stock
Exchange in 2013-2015 periods and based on the predetermined criteria, 54 companies in LQ-45 have been
selected as samples. The analytical method has been carried out by using multiple linear regression analysis and
the SPSS (Statistical Product and Service Solutions). The result of the research shows that institutional
ownership, independent commisioner and dividend policy give positive and significant influence to the firm
value. The result of managerial ownership shows negative and significant influence to the firm value.
Meanwhile, the audit commitee does not give significant influenceto the firm value. Simultaneously,
independent variables gives significant influence to the dependent variable.
Keywords: good corporate governance, dividend policy, firm value.